Help, I have a question all advice welcome....

redcoltraine

Hi All

I am trying to have an accounts shake up. I have very recently paid off my loan and want to get saving amoungs other thing improve my credit rating......
Anyway, to cut along story short, I have 4 bank accounts, all are funded as follows.
A/C 1- wages job 1 - plus bills
A/C 2- wages job 2
A/C 3 - Joint A/C household bills and joint expenditure.
A/C 4 - Spend A/C
Is this madness, and will it affect my credit scoring?
Am I just an account collector?
What should I do, I'm thinking close afew........

Red

Lokolo

Talk to YorkshireBoy, he has like 15 current accounts.

They won't effect your credit rating.

Credit cards and such effect your credit rating.

exel1966

redcoltraine wrote: »

Hi All

I am trying to have an accounts shake up. I have very recently paid off my loan and want to get saving amoungs other thing improve my credit rating......
Anyway, to cut along story short, I have 4 bank accounts, all are funded as follows.
A/C 1- wages job 1 - plus bills
A/C 2- wages job 2
A/C 3 - Joint A/C household bills and joint expenditure.
A/C 4 - Spend A/C
Is this madness, and will it affect my credit scoring?
Am I just an account collector?
What should I do, I'm thinking close afew........

Red

The number of current accounts you have makes little, if any difference to your credit rating providing they do not have any overdraft facility attached to them. You have to be careful though as when opening new current accounts some will automatically provide a facility, so you'll be searched accordingly. Too many searches in a relatively small timeframe can be harmful when applying for credit.

I currently have 13 current accounts all used for varying advantage gaining purposes, but only one has an overdraft facility which is my main expenditure account. I open close current accounts all the time and my credit record is excellent, still.

From what your very generalised post reads what you have now has little impact so you have absolutely no need to close any account if overdraft free unless you don't particulalrly want them.