HSBC £125 switcher offer - can the account now be closed?

allygate

I recently did an HSBC switch for the £125 offer which has now been credited. Does anyone know if it's now ok to switch to RBS for the £100 offer or does the HSBC account need to stay open for a certain minimum period?

Thanks!

Anamox

Switching around like this made my new mortgage application a bit of a nightmare as it got me automatic rejections from most lenders, I guess it looks a bit dodgy on somebody's credit history regardless of the motivation.

I'm currently with HSBC following the £175 offer but before this I left Halifax a week after they gave me their £125 offer. If you can find the original terms and conditions if the offer is still active it is usually quite obvious, but I've never seen one that says you have to stay for a minimum time. Usually if that is the case they work it so you get the reward after 4 months of having and using the account.

Ed-1

Anamox said:

Switching around like this made my new mortgage application a bit of a nightmare as it got me automatic rejections from most lenders, I guess it looks a bit dodgy on somebody's credit history regardless of the motivation.

I'm currently with HSBC following the £175 offer but before this I left Halifax a week after they gave me their £125 offer. If you can find the original terms and conditions if the offer is still active it is usually quite obvious, but I've never seen one that says you have to stay for a minimum time. Usually if that is the case they work it so you get the reward after 4 months of having and using the account.

It's normally really only recent hard credit searches (within the last 6 months) that make a difference to mortgage applications.

D3xt3r5L4b

To answer OP’s question - yes it’s fine. 

David28

To OP, did you pay in £1750?
I got my £125 as well and never paid in anything other than what was in the account that I switched from.