why be loyal to your bank??

cjrammer

I have noticed that whenever you apply for a new product at the bank, or a new account at a new bank they ask "how long have you been with your current bank?"

Is this important? Does your answer affect your credit score? What does it do...if anything!?
Cheers

stclair

It sounds good if you can say you have been with your bank 10 years or so.

I like making applications as when I get asked the question I can say ive been with my bank 19 years.

Its does help your score with the lender though.

chexum

Well, once I tried to apply for an Egg card having had a savings account with them, so they knew a few of my other account numbers. The form asked for a current account (I can't recall why) and then asked how long I have been with that bank - my answer was honest, 1 month.

The outcome? They referred my application, and declined the morning after. Without any search at all recorded. Could it be due to the account age? I'll never know.

Dr_Cuckoo3

chexum wrote: »

Well, once I tried to apply for an Egg card having had a savings account with them, so they knew a few of my other account numbers. The form asked for a current account (I can't recall why) and then asked how long I have been with that bank - my answer was honest, 1 month.

The outcome? They referred my application, and declined the morning after. Without any search at all recorded. Could it be due to the account age? I'll never know.

You've been on this forum long enough to know that that you don't put "time at bank - one month" on credit card applications

You will have had a current account elsewhere for longer that you could have put on the form