Does changing your credit card effect your credit report for first time buyers

afc_dan

I have had a post office credit card for around 1 and a half years (never missed a payment) however there are no benefits to it. If I change cards, will this be a bad move with me looking to buy my first place in around 6 months time?
Thanks

fergie_

Likely to be fine if you change now, but it is ultimately a hard search on your record. The lenders however will be more interested in level of debt, affordability and how you manage the card.

MEM62

It will have no impact on a mortgage application.  

Nasqueron

I wouldn't change cards, just get a new one if you qualify for better perks and keep the old one, using occasionally to keep it "alive" as it were as a positive for your credit history

DullGreyGuy

afc_dan said:

I have had a post office credit card for around 1 and a half years (never missed a payment) however there are no benefits to it. If I change cards, will this be a bad move with me looking to buy my first place in around 6 months time?
Thanks

To the mortgage provider it will be that you've applied for an additional credit product and then have closed a prior credit product at a later date. It will all be in your credit history and thats what lenders use to decide if to lend etc. 

What the impact is? That depends on a lot of other factors, if you are a border line case it may tip the balance, if you're applying for a 30% LTV and 1.5x salary then its unlikely to make the slightest difference. Doing it 6 months before applying is going to be better than doing it a month before applying (at which point the original card would still show as open) but not as good as doing it a year in advance