Credit score rating

randomsaver

I've got an current account with HSBC which I've had for several years now. I went to the bank to close this account as I never use it anymore since I've opened a new one elsewhere.

I was told that if I closed this account, it may affect my credit rating and was told to carry out a little activity now and which would help to maintain my credit rating.

Does this sound correct as other people told me the opposite?

The other reason I wanted to close this account was to get rid off the debit card as my main banking has changed and do not use it.

So is it worth me keeping this account opening in regards to my credit rating or close it as I do not use it. Thanks

ShelfStacker_3

I was told that if I closed this account, it may affect my credit rating and was told to carry out a little activity now and which would help to maintain my credit rating.

Who exactly told you that? Because it's b*llocks.

But you don't have to go into branch to close an account. AFAIK you can do it over the phone or by post as well.

YorkshireBoy

ShelfStacker wrote: »

Who exactly told you that? Because it's b*llocks.

The second part is, but the first statement holds true because 'time with bank' is a recognised credit scoring criterion. That's if the HSBC account was being reported to the CRA's of course.

Scousebird_2

It depends if you had an overdraft or any lending, as long as you were running the account within it's limits and this was being reported to the CRA's then it all goes towards your scoring, If you didn't have any lending, then really, there is no benefit to having two current accounts when there is no need there.

I take it there was a reason why you left HSBC-as people don't tend to change their current accounts for the fun of it! Do they? Lol!!