Does opening a savings (not current) account have any impact on credit report?

mr_fishbulb

I keep chasing the best savings rates and might do this quidco £20 A&L one.

My girlfriend is worried that my credit rating will be affected by keep oping lots of accounts. I told her that they don't do a credit check or show up on your credit report as there is no actual credit applied for - it is just a savings account.

Though I better double check with yous lot though - am I right?

catieeb06

In short, no it doesnt. It's not credit. It's savings.

Hope this helps mr fishy

mr_fishbulb

Thanks Catie.

What's the £20 per week for?

alanwsg

When you open an account with a new provider they do a search that will show up on your credit report, but I can't imagine it would affect your credit rating.

I got my credit report from Equifax (Free with a Capital One CC), the searches show up as ...
"Identity Check to comply with Anti Money Laundering Regulations"

dunstonh

The identification search does not class as a credit check.

1echidna

Also if you already have an account, say with A&L, they do not carry out an additional identification search.

DiggerUK

Mr.Fishbulb,
Sounds like you have not seen your credit reference files.
Makes for interesting reading if nobody else has seen theirs either.
Only costs 2.50 to see big brother for real. Get hard copy through the post, sit down with a stiff drink and be amazed.

Experian, Call Credit and Equifax are the main agencies.
We get updates every year or two to add corrections.

mr_fishbulb

DiggerUK wrote: »

Mr.Fishbulb,
Sounds like you have not seen your credit reference files.
Makes for interesting reading if nobody else has seen theirs either.
Only costs 2.50 to see big brother for real. Get hard copy through the post, sit down with a stiff drink and be amazed.

Experian, Call Credit and Equifax are the main agencies.
We get updates every year or two to add corrections.

Thanks Digger, I have seen all 3. That was many years ago though when I first started using this site and never gave any though to what interest rate I was getting

catieeb06

£20 a week is my spending money i'm allowing myself from my wages.

Just trying to save as much as possible.

Doesnt include my driving lessons though, seperate budget

Experian_company_representative

There are many types of search footprint on a credit report: ID check, credit application, checking own report, getting a quote etc etc. Only credit application searches are used in credit scoring. The others are simply registered so you can see who has been accessing your data, when and why.