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    • static92
    • By static92 17th Jul 17, 11:18 PM
    • 5Posts
    • 0Thanks
    static92
    santander basic account
    • #1
    • 17th Jul 17, 11:18 PM
    santander basic account 17th Jul 17 at 11:18 PM
    hi is the santander basic account any good to help build a good credit rating as it comes with a debit top up card and cash card and you have to transfer between money between both cards depending which card you use on the bank account is this somthing that would help improve your credit rating/score as i was advised by a friend to open this account so i can it can help.improve my credit score/rating.
Page 1
    • SnowTiger
    • By SnowTiger 17th Jul 17, 11:40 PM
    • 3,039 Posts
    • 2,011 Thanks
    SnowTiger
    • #2
    • 17th Jul 17, 11:40 PM
    • #2
    • 17th Jul 17, 11:40 PM
    It will likely appear on your credit files, but it's only a bank account that doesn't offer a credit facility.

    If your credit files are sparse it may be a positive, but won't demonstrate how you handle credit.
    • Don80
    • By Don80 18th Jul 17, 9:28 AM
    • 150 Posts
    • 58 Thanks
    Don80
    • #3
    • 18th Jul 17, 9:28 AM
    • #3
    • 18th Jul 17, 9:28 AM
    hi is the santander basic account any good to help build a good credit rating as it comes with a debit top up card and cash card and you have to transfer between money between both cards depending which card you use on the bank account is this somthing that would help improve your credit rating/score as i was advised by a friend to open this account so i can it can help.improve my credit score/rating.
    Originally posted by static92
    I don't think so. My understanding is that basic accounts involve no credit so they don't show, and therefore don't affect your credit rating. When you apply they do an ID check only. A friend of mine had a Bank of Scotland basic account, and it was not on his credit file at all. Now that he has "upgraded" to a regular account, it is showing. So maybe you need a normal account for it to show on your credit file. Lloyds Banking Group seem to have them on Experian and Noddle (Call Credit). So an account with Lloyds Bank, Bank of Scotland, or Halifax should help?

    If you really want to boost your credit rating, you really need credit - as long as it is managed well. The best way to do that is with a credit card. Try the MSE credit checker to see if you are likely to get a credit card. If you can, that's the best way (spend a little each month and pay it off in full). Capital One and Barclaycard let you do a check on their websites before you apply, and it won't affect your credit rating.

    If you cannot get a credit card, there are more drastic (read "last resort") options, such as a cashbuilder card. This is a pre-paid card that comes with what is essentially a loan. You pay an amount every month, and at the end of a year they report this as a fully paid off loan which should help. But that is a last resort as you are effectively paying over £100 over the year. Although it shows as a loan on your credit file, you never see the money!
    • pmduk
    • By pmduk 18th Jul 17, 10:55 AM
    • 7,474 Posts
    • 5,385 Thanks
    pmduk
    • #4
    • 18th Jul 17, 10:55 AM
    • #4
    • 18th Jul 17, 10:55 AM
    If you're looking for a basic bank account this is probably the last one I'd go for because of the complicated nature of their debit card.
    • SnowTiger
    • By SnowTiger 18th Jul 17, 4:07 PM
    • 3,039 Posts
    • 2,011 Thanks
    SnowTiger
    • #5
    • 18th Jul 17, 4:07 PM
    • #5
    • 18th Jul 17, 4:07 PM
    If you're looking for a basic bank account this is probably the last one I'd go for because of the complicated nature of their debit card.
    Originally posted by pmduk
    Some people pay £12.50 a month for a similar account elsewhere http://www.eccount.com/the-eccount/how-it-works/.
    • Don80
    • By Don80 18th Jul 17, 4:35 PM
    • 150 Posts
    • 58 Thanks
    Don80
    • #6
    • 18th Jul 17, 4:35 PM
    • #6
    • 18th Jul 17, 4:35 PM
    If you're looking for a basic bank account this is probably the last one I'd go for because of the complicated nature of their debit card.
    Originally posted by pmduk
    I agree. If I had no choice, and was not too fussed about branch access, I would be thinking Nationwide, you can apply directly and they give you a contactless card with the basic account.
    • pmduk
    • By pmduk 18th Jul 17, 5:29 PM
    • 7,474 Posts
    • 5,385 Thanks
    pmduk
    • #7
    • 18th Jul 17, 5:29 PM
    • #7
    • 18th Jul 17, 5:29 PM
    Some people pay £12.50 a month for a similar account elsewhere http://www.eccount.com/the-eccount/how-it-works/.
    Originally posted by SnowTiger

    A fool and his money... Some people are brainwashed into thinking they have no alternative or are too lazy to budget for themselves.
    • stehouk
    • By stehouk 26th Jul 17, 6:32 PM
    • 3 Posts
    • 0 Thanks
    stehouk
    • #8
    • 26th Jul 17, 6:32 PM
    • #8
    • 26th Jul 17, 6:32 PM
    I have one of these account aswell as another as my main account, i use it for savings only though, i set up direct debits to other higher paying regular savings accounts.
    It is recorded as an id check on my credit report and shows a monthly up to date record on the report so it is useful to improve your'e credit rating, it also has access to the regular saver for 12mths @ 3%
    you have to transfer funds to top up the debit card which is simple with the online app.
    • cipnt
    • By cipnt 18th Sep 17, 12:09 PM
    • 4 Posts
    • 1 Thanks
    cipnt
    • #9
    • 18th Sep 17, 12:09 PM
    • #9
    • 18th Sep 17, 12:09 PM
    I confirm Santander reports the Basic Account to the credit agencies and it will hep you build your credit history and improve your online identification with other lenders.
    An interesting fact about the Santander Basic Account is that they report both the current account and the top-up card separately, so you will actually have two entries in your report.
    Very useful!
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