I heard somewhere that if I change banks, i.e. close my HSBC account and move to a Cahoot account, that this will have a negative effect on my credit rating.
Is this true? and to what extend would it affect it?
thanks
I heard somewhere that if I change banks, i.e. close my HSBC account and move to a Cahoot account, that this will have a negative effect on my credit rating.
Is this true? and to what extend would it affect it?
thanks
On credit applications you often get asked how long you have had your main bank account, a short time will probably be a negative mark of some kind although probably not a very serious one. Also in a few cases people may want a bank reference, which will probably look better for a long-standing customer. And the bank itself may be more prepared to give you credit if you have been there a long time and kept your account in good order. Probably none of those is very serious though.
"Stephen Burke" wrote
Do they really usually say "main"? I don't think I've ever noticed that!
I have kept my first ever current a/c (set up just before 18th birthday!), and always quote that one (I do still use it, but perhaps not as much as others... :-)
The wording probably varies, but I doubt they would be interested in the girobank account which I last used in 1984 and which IIRC has a balance of 7p :)
It depends what they're looking for - overdraft (and repayments) or straight length of time. I almost gave my giro account up when I got a One Account CAM before realising it might be better to keep it for precisely this reason.
btw Girobank are Alliance & Leicester now !
Daytona
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