Switching credit cards with same bank

I was thinking of switching from Barclaycard platinum to Barclaycard rewards due to the cash back and apparently a good travel card (I’m going on holiday next year)

Will switching affect my credit report/score/history? I’m due to remortgage next year. 

Thanks


Comments

  • grumbler
    grumbler Posts: 58,629
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    A credit search may have a minor effect, but
    • only for 6 months
    • most likely, there will be no any search if you don't ask for a credit limit increase
  • pw007
    pw007 Posts: 17
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    I was looking at switching through the Barclays app and it says it won’t affect credit score. Apologies 
  • CliveOfIndia
    CliveOfIndia Posts: 1,187
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    pw007 said:
    I was looking at switching through the Barclays app and it says it won’t affect credit score. Apologies 
    Whether it affects your credit score or not is neither here nor there, seeing as how your credit score is a meaningless number made up by the CRA's as a marketing gimmick (and is not seen by any lender).
    If they DO make a search on your file, this will be recorded, and will be taken into account by any other lender.  However, one or two searches over a period of several months will have next to zero effect.  To answer your specific question, a mortgage lender is far more concerned with your overall credit history and debt/income ratio.  Do you have a history of paying all your debts on time?  Do you always repay your credit card in full (indicating that you're not struggling) ?  Do their algorithms think that your current income and existing debt is affordable, and will continue to be so if you take out a new mortgage deal?
    Whilst it's generally advised not to take out any new credit products shortly before a mortgage application, one new credit card taken out a few months before a mortgage is very unlikely to have any meaningful impact.

  • pw007
    pw007 Posts: 17
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    I’m not that worried about the score because I keep getting told it’s meaningless. I have no debt and I’ve always paid loans and cards off in time or in full
  • Nebulous2
    Nebulous2 Posts: 5,063
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    Far too many people let the CRA tail wag the personal benefits dog. 

    If the new card meets your needs better than the old one, then go for it.... 
  • pw007
    pw007 Posts: 17
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    Thanks another question do you get charged foreign exchange rates when purchasing something online be it with Barclays rewards or any other card? 
  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,888
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    edited 9 December 2023 at 10:33AM
    A foreign exchange rate is used to convert the transaction to sterling.

    Whether you pay forex fees depends on the card.
  • pw007
    pw007 Posts: 17
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    Thanks any idea if Barclays rewards has these fees? I know there isn’t if purchasing in a foreign country or withdrawing cash abroad just wasn’t sure how online purchasing worked 
  • Foreign currency is the same whether abroad or online.
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