How to switch credit cards
Written by
Emily Tye
Reviewed by
Amy LancashireTo switch credit cards, you take one of 2 routes: apply for a new card with a different provider, or ask your current provider to move you to one of their other cards (sometimes called a product change). If you're carrying debt, you'd usually move it across to the new card with a balance transfer. Once the new card is set up, you decide whether to keep or close the old one.
The right route depends on why you're switching and whether you're carrying a balance. This guide walks through both, the steps involved, what switching does to your credit score, and how to handle your old card.
Is there a credit card switch service in the UK?
No. The Current Account Switch Service moves your direct debits, standing orders and salary automatically when you change current accounts. There's no equivalent for credit cards.
That matters because it makes switching a credit card more of a hands-on job. You choose and apply for the new credit card, request a balance transfer if you're moving debt, update any recurring payments tied to the old card, and close the old account if you want to.
The balance transfer itself isn't manual; your new provider usually pays off the old card for you once you've asked them to, but you have to set up and coordinate everything else. That's worth knowing up front, so nothing catches you out later, like a subscription still charging a card you thought you'd finished with.
How do I switch credit cards?
Switching to a new card usually follows these steps:
Work out what you actually need. A lower interest rate, a 0% balance transfer deal, rewards, or a higher limit are all common reasons. The right card depends on which of these matters to you, so it helps to be clear before you compare. Our guide to the different types of credit cards can help you narrow it down.
Use an eligibility checker before you apply. A credit card eligibility checker uses a soft search to show your chances of approval without leaving a mark on your credit file. Only a full application triggers a hard search.
Apply for the new card. Once you've found a card you're likely to get, submit the application. This is the point at which the lender runs a hard credit check.
Transfer your balance, if you're moving debt. If you're switching to clear existing debt, you likely applied for a balance transfer credit card. Here, you typically give your new provider the details of the old card and the amount to move, and they pay it off for you. One thing to know: a balance transfer has to be to a card from a different provider, as you can't transfer a balance between cards from the same bank or banking group. Here's what a balance transfer is and how it works.
Set up your payments. Update any subscriptions or recurring payments charged to your old card with the new card details, and set up a direct debit from your bank account to cover at least the minimum on the new card, so you don't miss a payment while you're getting used to it.
Decide what to do with the old card. Once everything has moved across, you can keep the old account open or close it. More on that below.
Switching provider or changing card with your current provider
There are 2 ways to switch, and they work quite differently.
Applying with a new provider is the most common route. You compare cards across the market, apply for one that suits you, and move your balance if you have one.
Changing cards with your current provider is the other option, sometimes called a product change or swap. It's different from a balance transfer: a balance transfer moves a debt to a card from a different provider, usually to grab a 0% deal, whereas here you stay with the same provider and they switch your existing card to a different one of theirs.
How it works varies a lot, so check your own provider's terms before you commit. Some don't run a credit check at all. Others treat it as a full application, run a full credit and affordability check, and any remaining balance moves onto the new card at its standard rate. So for some people this route is quick and leaves their credit file untouched, while for others it carries the same hard search as a fresh application and could cost you a 0% deal.
Does switching credit cards affect my credit score?
Yes, usually in the short term, and often only mildly. Three things are worth understanding.
The hard search. When you apply for a new card, the lender runs a hard credit check, which leaves a footprint on your file. Hard searches stay on your credit report for 12 months with Experian and Equifax, and 2 years with TransUnion. Too many hard checks in a short space of time can negatively affect your score. One application is unlikely to do much harm, but several in quick succession can, which is why the eligibility-checker step matters.
Your credit utilisation. This is how much of your available credit you're using. Opening a new card raises your total available credit, which can lower your utilisation and help your score. Closing your old card does the opposite. You can read more about how your credit utilisation ratio works and why it counts.
The age of your accounts. Lenders like to see a stable, established history. If your old card is one of your longest-held accounts, closing it can shorten your average account age slightly.
For a fuller picture of the application side, see how applying for a credit card affects your credit score.
Should I close my old credit card after switching?
Not always. It depends on the card and how you tend to spend.
Keeping it open can help your credit score, because it holds your total available credit higher (which supports your utilisation) and keeps a long-standing account on your file. That said, an unused card can be a target for fraud, and for some people the temptation to keep spending on it outweighs the benefit.
Closing it makes sense if it charges an annual fee you no longer want to pay, or if having the extra credit available makes it harder to stay on top of your spending. If you do close it, clear the balance first and check the account is fully settled. Here's how to cancel a credit card properly, and what happens to your old card after a balance transfer if you've moved a balance across.
When is it worth switching credit cards?
Switching is often worth it when:
You're paying interest on a balance and could move it to a 0% balance transfer deal
Your current rate is higher than what you'd get elsewhere
You want rewards, cashback or features your current card doesn't offer
You'd qualify for a higher limit that better suits your spending
It's usually better to wait if:
You've recently applied for other credit, as several applications close together can dent your score
You're partway through a 0% deal that still has time left to run
You're planning a big application soon, such as a mortgage, where you'll want your credit file looking as settled as possible
The honest test is whether the new card leaves you better off once any fees are accounted for. If it doesn't, there's no need to switch just for the sake of it.
FAQs
There are a range of financial products available that may suit your needs. We encourage you to research your options carefully and consider seeking independent financial advice before making any decisions. This blog is for informational purposes only and does not constitute financial advice.
