Amex Platinum Vs Santander 123

A question about : Amex Platinum Vs Santander 123

I applied for the 123 cashback card in Jan, was approved instantly.

After having that for a month I applied for an everyday cashback platinum Amex, which I also got instant approval for.

They both have a similar limit, now the question is, would there be any negative consequences to my file if I closed the 123 account down after just 2 months (settled).

I also have a Lloyds duo with very low credit which I have had for 11 months, I do not use this card. Would closing BOTH be an issue at the same time too? Does this come across in a wrong way to lenders?

On another note, I do have a nationwide CC which I have been actively spending and paying off for, for over 5 years.

Thanks all.

Best answers:

• On a medium to long term, there will no issues with closing down these accounts.
  In the short term, your credit utilisation versus available credit will change and may have some sort of effect on your file. Can't predict it even if we had a full look at your file.
  This won't stop you getting mobile phone contracts or anything like that .. It might have some slight effect if you're applying for a mortgage. Most likely it won't matter at all.
• The 123 Card is great for petrol (3% cashback) that alone makes it a keeper for me.
  If you don't use the Duo then close it.
  The Nationwide CC might be worth keeping because you have a long history with it.
  Any closed/settled accounts might take a couple of months to show up on your credit report.
  Either way, with 2 new credit cards in 2 months you'll want to take it easy and not apply for any more credit for another 6 months at least, possibly a year.
• in terms of which i would favour, i would go Amex over Santander every time. massive fan of Amex CS.
  and i wouldnt worry too much re. your file. if you dont want the account any more, just close it. but bear in mind that you might find some places which won't accept your Amex card.. i currently use CapOne as my Amex backup, but very tempted to let it go.
• Thanks for the replies.
  I will be closing the duo soon.
  My only concern is having a credit card on file which was on there for just 2 months. Looks weird?
  I plan to keep the Amex and build out higher limit on it, alongside the nationwide.