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    • dane1986
    • By dane1986 11th Oct 17, 2:00 PM
    • 8Posts
    • 0Thanks
    dane1986
    Account balance effect on credit score
    • #1
    • 11th Oct 17, 2:00 PM
    Account balance effect on credit score 11th Oct 17 at 2:00 PM
    Iím currently in the process of building up my credit file and Iíve got a couple of quick questions for people in the know.

    1. I got some money in saved up in my current account, what Iím thinking about transfering over to my isa (with another bank) will it effect my credit score if my balance is now showing lower on my file? Because my isa account donít show on my credit score, but my currant account does

    2. Iím looking at the possibility of getting a loan next year through my bank, would they look more in favour of approving the loan if i was to keep the money with them?

    Cheers
Page 1
    • zx81
    • By zx81 11th Oct 17, 2:01 PM
    • 13,683 Posts
    • 14,143 Thanks
    zx81
    • #2
    • 11th Oct 17, 2:01 PM
    • #2
    • 11th Oct 17, 2:01 PM
    Ignore your score.

    Neither your current account or ISA balance will show on your files.

    Your savings will have little impact on the loan application.
    Last edited by zx81; 11-10-2017 at 2:04 PM.
    • dane1986
    • By dane1986 11th Oct 17, 2:12 PM
    • 8 Posts
    • 0 Thanks
    dane1986
    • #3
    • 11th Oct 17, 2:12 PM
    • #3
    • 11th Oct 17, 2:12 PM
    Thanks for the reply, the reason I ask is because the money in my current account is burning a whole in my pocket. But my isa is a book only account, so if I put it in there there is less of a chance me being able to spend it.
    • boo_star
    • By boo_star 11th Oct 17, 9:50 PM
    • 1,287 Posts
    • 652 Thanks
    boo_star
    • #4
    • 11th Oct 17, 9:50 PM
    • #4
    • 11th Oct 17, 9:50 PM
    Thanks for the reply, the reason I ask is because the money in my current account is burning a whole in my pocket. But my isa is a book only account, so if I put it in there there is less of a chance me being able to spend it.
    Originally posted by dane1986
    Credit balances arenít shown for current accounts on your credit file so you can happily put the money wherever you want, it wonít affect your ability to get credit.
    • binaryuniverse
    • By binaryuniverse 11th Oct 17, 10:41 PM
    • 412 Posts
    • 208 Thanks
    binaryuniverse
    • #5
    • 11th Oct 17, 10:41 PM
    • #5
    • 11th Oct 17, 10:41 PM
    A credit file will show any money you owe to other organisations. That is all.
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