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How long should I wait between switching donor bank accounts for switching incentives?
pinknsparkly
Posts: 545 Forumite
Morning all,
As the title says, what are your thoughts on how long to wait between switching bank accounts for opening incentives? I will be using donor accounts, not moving my main current accounts.
I have recently fixed my mortgage for 5 years (mid Dec), and taken out a 27 month credit card (early Jan, for stoozing) so have no "important" credit applications coming up. I'm trying to decide the best balance between maximising the number of opening incentives I can claim and minimising the chance of rejection due to previous searches on my credit file. I am not after overdrafts, and (unless a requirement for the opening incentive) will not be requesting one as I imagine this may make them take a harsher view on my credit search history?
Also, how far in advance of a new credit card application (it would be a balance transfer card) would you suggest I avoid opening any new bank accounts?
Thanks in advance!
As the title says, what are your thoughts on how long to wait between switching bank accounts for opening incentives? I will be using donor accounts, not moving my main current accounts.
I have recently fixed my mortgage for 5 years (mid Dec), and taken out a 27 month credit card (early Jan, for stoozing) so have no "important" credit applications coming up. I'm trying to decide the best balance between maximising the number of opening incentives I can claim and minimising the chance of rejection due to previous searches on my credit file. I am not after overdrafts, and (unless a requirement for the opening incentive) will not be requesting one as I imagine this may make them take a harsher view on my credit search history?
Also, how far in advance of a new credit card application (it would be a balance transfer card) would you suggest I avoid opening any new bank accounts?
Thanks in advance!
MFW2023 challenge #99: £1090.11 / £1,000 MFiT-T6 (Jan 2022 - Jan 2025) challenge #99: Reduce mortgage to £400,000. Current balance = £413,551.19 Initial MF date (23rd Aug 2022): Sep 2051 Current MF date: Jul 2051 Last updated: 15/06/2023
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