Amazon Mastercard Query

72 Posts
If I was to acquire an Amazon Mastercard to make use of the £20 voucher and 0% interest for 3 months. If I made a purchase and then paid it off well within those 3 months, would I take a hit on my credit rating for cancelling the credit card after paying the balance off?
Thanks in advance.
Thanks in advance.
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It would be up to each lender to take a view on whether that puts you in a negative light. It very much depends on the rest of your file.
Why not just keep the card, use it to buy things from your monthly budget (groceries and travel costs) and pay it off in full each month?
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And please, forget about your credit score. Lenders neither see nor use it. They score independently against their own criteria and policies using the data in your credit files, plus the data you submit in your credit application.
I love my job
Experian in particular will drop your score on any change, good or bad, so if you want them to give you a high number, don't ever do anything. That won't do much for how lenders view you though.
I'd only get rid of the card if you have at least three or four other well managed ones, or are carrying too much credit.
Understandly, these customers tend not to say great things about their card provider.
I intend to do the same once I receive the first statement which will include the purchase I made. It automatically became default card in my Amazon account.
They gave me a £3000 limit which is much more than I wanted or anticipated. I want to cancel as soon as to remove that from my total available credi!
How long after taking the card did you cancel it?
I took mine out the other day and plan to cancel it a month later at the very latest.