Will tidying my bank and credit accounts up impact my score?

Jlawson118

I'm 20 and I've had my First Direct account just over two years now and I consider it my main one as I keep most of my savings in there. I later opened one with Lloyds Bank just to have a spare account after I was victim to a fraud attack.

Then earlier this year, I was preparing to go abroad for a few months over the Summer and was looking for a credit card I could use abroad at no extra cost, and also start using it to build my credit score up for the future for mortgages and things. Lloyds rejected me for their Avios card, and so I opened one with Aqua for their Advance card, they gave me a £300 limit.
I was using it to buy small things like lunches and then paying it off at the end of the week. Around a month or two later, I was accepted for the Lloyds Avios and used that instead, with a £750 credit limit. Aqua later increased my limit from £300 to £1050.

Around a similar time, I opened up a student account with HSBC, but I was unhappy with them and switched over to Halifax for their Reward scheme. Yet they let me down hugely at a time I needed them. I'll also add here that First Direct gave me a £1000 overdraft in August when I needed to borrow some money short term.

So last month, I decided to go with Barclays for their insurance deals, and I also applied for the Barclaycard Reward scheme, where I was accepted with a £3500 credit limit. I was planning to keep the Lloyds Avios one but after six months of spending a fortune with them and always paying my bill off way before it was even due, they wouldn't increase my limit, and it seemed daft to me that Aqua could increase it with no problems, and Barclaycard could offer me £3500 and yet Lloyds wouldn't give me anything higher than £750.

So I've pretty much had a clean up:
I've closed my current account with Lloyds, and credit card.
I've closed my Halifax account down.
And also closed my Aqua account down.
In the meantime, I've opened the Barclays and Barclaycard accounts as I've mentioned, but I also opened a First Direct Gold Card as well just to have a backup credit card. And also a phone contract

I know I've been a bit unsettled with credit this year but I'm settled now. But my question is, despite closing down credit cards and opening new ones, will this impact my score badly? Or good? Or no difference really?

Maximum_Saving

It is excellent that you have sorted out your finances. I wish you lots of luck with your credit report. It is awful that you suffered some fraud. I hope that never happens again to you. I used to have a number of credit cards and I closed all but one. I have a mortgage and my credit reports shows this.In 2012 I felt fed up with fees on a Lloyds Bank current account when I travelled overseas. I got rid of my Lloyds account and made First Direct my main back. I got a Halifax Credit card which I use on my travels. Even better in 2012 I opened a Norwich and Peterborough Light Account. It gives fee free spending overseas. I keep it by doing 5 transactions a month.

Jlawson118

Maximum_Saving wrote: »

It is excellent that you have sorted out your finances. I wish you lots of luck with your credit report. It is awful that you suffered some fraud. I hope that never happens again to you. I used to have a number of credit cards and I closed all but one. I have a mortgage and my credit reports shows this.In 2012 I felt fed up with fees on a Lloyds Bank current account when I travelled overseas. I got rid of my Lloyds account and made First Direct my main back. I got a Halifax Credit card which I use on my travels. Even better in 2012 I opened a Norwich and Peterborough Light Account. It gives fee free spending overseas. I keep it by doing 5 transactions a month.

I wanted to make Halifax my main account, but they wouldn't accept me for their clarity card which I wanted to use abroad, and they refused to give me an overdraft either. First Direct have given me anything I'll ever need so they're my main bank too

DCFC79

I wouldnt worry about your score, focus on the history as that is what lenders see.

Ben8282

Considering the fact that you are only 20 years old and have successfully opened several current accounts and obtained several credit cards including an avios reward card which is not a credit builder card, your credit rating can't be all that bad.
Quite why you repay your cards on a weekly basis or 'spend a fortune and pay it off way before it is even due' I don't know.