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    • sparky0138
    • By sparky0138 12th Oct 17, 9:13 AM
    • 219Posts
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    sparky0138
    Will closing current accounts affect credit score?
    • #1
    • 12th Oct 17, 9:13 AM
    Will closing current accounts affect credit score? 12th Oct 17 at 9:13 AM
    My dad has 12 current accounts open across 6 different banks. None of them have overdraft facilities and all currently have healthy balances in order to get maximum interest. Does anyone know if closing 10 of them would have any impact on his credit score? And would people advise closing one or two per month rather than all in one go?
    Last edited by sparky0138; 12-10-2017 at 9:13 AM. Reason: spelling
Page 1
    • zx81
    • By zx81 12th Oct 17, 9:30 AM
    • 13,665 Posts
    • 14,112 Thanks
    zx81
    • #2
    • 12th Oct 17, 9:30 AM
    • #2
    • 12th Oct 17, 9:30 AM
    Perhaps, but then again, so does s spell of bad weather. Fortunately, no one sees the score and it's meaningless.

    Do any of them appear on his credit files? Is he thinking of applying for credit in the next couple of months?
    • DCFC79
    • By DCFC79 12th Oct 17, 9:53 AM
    • 30,094 Posts
    • 19,049 Thanks
    DCFC79
    • #3
    • 12th Oct 17, 9:53 AM
    • #3
    • 12th Oct 17, 9:53 AM
    Why close them when they are earning money ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • sparky0138
    • By sparky0138 13th Oct 17, 2:48 PM
    • 219 Posts
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    sparky0138
    • #4
    • 13th Oct 17, 2:48 PM
    • #4
    • 13th Oct 17, 2:48 PM
    Do any of them appear on his credit files? Is he thinking of applying for credit in the next couple of months?
    Originally posted by zx81
    Yes, they're listed under Open Accounts/Other Accounts.

    He won't be applying for credit as he has plenty of savings but it's possible that in about a year's time he'll be renting a house for the first time ever.

    He's currently living in a rent-free house that goes with the job he's had since he was 14 (he's 64 now) and I believe landlords like to do credit checks.
    • sparky0138
    • By sparky0138 13th Oct 17, 2:51 PM
    • 219 Posts
    • 322 Thanks
    sparky0138
    • #5
    • 13th Oct 17, 2:51 PM
    • #5
    • 13th Oct 17, 2:51 PM
    Why close them when they are earning money ?
    Originally posted by DCFC79
    He's not bank account/computer savvy and needs them simplifying so his money is just in a couple of accounts he can easily manage himself.
    • tenchy
    • By tenchy 13th Oct 17, 4:13 PM
    • 113 Posts
    • 23 Thanks
    tenchy
    • #6
    • 13th Oct 17, 4:13 PM
    • #6
    • 13th Oct 17, 4:13 PM
    Yes, they're listed under Open Accounts/Other Accounts.

    He won't be applying for credit as he has plenty of savings but it's possible that in about a year's time he'll be renting a house for the first time ever.

    He's currently living in a rent-free house that goes with the job he's had since he was 14 (he's 64 now) and I believe landlords like to do credit checks.
    Originally posted by sparky0138
    Landlords can't do credit checks, nor can their agents. All they can see is public information. This business of credit checking potential tenants is an urban myth.
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