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Does closing a bank account....
Katanga
Posts: 4 Newbie
Does closing a bank account negatively effect your credit rating. I'm in the process of switching banks, as I've a nw advantage gold & paying them for the privillege. It's one of them things, I keep meaning to cancel but never got round to it - until now.
However, a friend mentioned I should downgrade the account and keep it open with £1 in, as closing it will make my credit rating worst - is there any truth in it? I have had the account open for around 15 yrs.
However, a friend mentioned I should downgrade the account and keep it open with £1 in, as closing it will make my credit rating worst - is there any truth in it? I have had the account open for around 15 yrs.
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Comments
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It will certainly so up on your record but as long as you do not owe the bank anything it will not be a problem. I changed my current account from one bank to another because they arranged my mortage. It is on my file but not in a bad light. Same as my vodafone contract is listed by I do not use them any more either.0
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If you dont want to close the account at least downgrade it so you are not paying £15 (or whatever it is) every month for something you dont use!0
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