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changing accounts & credit rating
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eja
Posts: 1 Newbie
Does anyone know if changing my current account will have a negative effect on my credit rating? My rating is already lowish, mostlt due to having moved house recently and I don't want to make it any worse. I also have an overdraft and I'm thinking about taking up the A&L account currently on offer.
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Almost every time you apply for a credit they ask you, how long you are with your bank. Don't switch your accont - A&L don't insist in switching. Keep your old accont and apply for a new one. The impact on your credit scoring will be very small - just a credit search. Only several searches during a short period of time can seriously affect your credit rating - and this will last for only about half a year.
Your Credit Rating: How they decide and how you find out for free article
See also: Opening several new current accounts. thread ...0
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