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Closed bank accounts- will this effect my credit file negatively?

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Hello everyone,

I'm 18 and as soon as I turned 18 I applied for an Amex card to build my credit history/file and I got accepted. I've had it for 4 months now, every month I've spent around £200 out of the 1,000 limit and paid it off in full and on time each month.

Now I have a question - I banked with Santander then I switched to Nationwide for the £100 bonus. I then opened an account with RBS closed it after a month of having it opened to switch to First direct for the £125 bonus, I then also opened an account with TSB and closed after a month to switch to NatWest for the £150 bonus.

So to sum things up I have a decent repayment history so far, but having 3 closed accounts on my file, will this look bad to lenders when I apply for credit products? I'm looking to get a overseas credit card in August for when I go abroad.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Not particularly, but try to calm down with opening and closing if accounts.

    Aim to show some stability.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    Opening so many accounts in such a short period will show several searches on your credit files. Negative.
    Having had the accounts open for such a short time will also look rather odd and will continue to have a negative effect on your average account age for the next 6 years.
    You have not exactly built up much of a repayment history if you have only one credit card account which has only been open for 4 months.
    What effect all of this will have on a future credit card application in the near future is difficult to predict
  • Yep that is the plan now, gonna keep my 3 accounts and 1 credit card open for as long as possible.
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