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I’m trying to figure out which scenario is going to cause me the least problems / harm to my credit reference files.
1. My current, and only credit card is due to be discontinued on the 6th of June (Jaja are withdrawing their own branded cards from the market).
If I don’t find a replacement by the end of business on the 6th, I’ll be without a credit card :
Will that harm my credit reference file etc, and am I effectively flushing 14 years (Jaja took over from the Post Office / Bank of Ireland) of spotless credit score down the toilet?
2. Since I joined credit club last month, my circumstances have changed, and I’ve updated my profile info accordingly (I work freelance, which has really picked up as of May. In September it’s due to change again, as I’ll take on a year long contract - when I’ll update my profile again).
This has meant that I’ve been pre-approved for credit cards I previously would have been declined.
However, whilst that Experian data is up to date, and valid, it stated that the monthly file updates (that are used for a hard check) won’t actually get updated until the 23rd of June.
Pre-approval means that in most cases one breezes through an application, and the credit card provider doesn’t do a hard check, but as MSE states, that’s not a cast iron guarantee, and the provider might do a hard check…
And in this case, the existing, outdated files would cause me to be declined.
So, which is the least bad option?
- Let my existing credit card die, and go without a credit card until my files are correctly updated on the 23rd of June (or even choose not to get another credit card until after I start my year long contract in September, and have updated my profile to reflect that)?
- Apply for a pre-approved credit card, and worst case scenario; they reference my outdated files, and reject the application.
Any guidance, and advice greatly appreciated.
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