bank account applications and credit rating

Briz_Blue

Hi, I've finally joined up to the forum after a couple of months using this site, and was looking for some advice as there appears to be a lot of people with a lot of answers on here!

Does applying for mutliple bank accounts in a short space of time affect your credit rating or the likelyhood of the banks accepting your application?

I recently added a couple of Lloyds Vantage accounts and was thinking of opening a couple of accounts with other banks for different reasons (travel money and good introductory offer). But as they do credit checks when you open an account, I wanted to make sure I wasn't going to cause myself problems.

thanks for any help!

stella2009

Applying for any form of credit will result in a search on your credit file (unless it's an internal application with your bank most of the time).

Multiple searches in a short space of time will have a negative effect on your credit rating, although depending on the creditor it will have a different effect.

Generally though this will have an adverse effect.

Briz_Blue

Thanks. Might wait a bit before applying for the next one then, it's not urgent at the moment.

onlypaddy

do lloyds do credit searches just when you add vantage to the accounts though?

noh

onlypaddy wrote: »

do lloyds do credit searches just when you add vantage to the accounts though?

No they don't.