Opening a new account...

Phoenix79_2

Hi all

I'm considering opening a new account (with the A&L). One thing that worries me is that i will have no credit history with that bank account when i apply for mobile contracts, credit cards etc.

I've been with Natwest for ten years, have two accounts with them, have had 3 loans and various credit cards from them in the past. I'd like to think my strong record was down to having had the same account for this long. I currently transfer my wages into that account from my HSBC account (I need to have my wages paid into HSBC as its a condition of my employment) but that account is barely used so i always consider Natwest as my main account.

If i was to open an A&L account, could i still use the Natwest account as a reference when opening credit cards? They always ask you how long you have had your account and who with etc. Putting your new details down and saying that you have only had the account a month isn't going to look very good is it?

Any comments appreciated.
Thanks

grumbler

Keep the old acount and use it as a refference.

mleonard79

Yes you definitely can and should use the account you've had for longest as a reference on applications - you don't actually have to be using it all that often, just keep it open and it'll stay on you credit file which is good for your credit history.

Regards

Michelle

Dazza.mk_2

Although if you are a good customer it is highly likely the account is not on your Credit Reference file (my NatWest account never appears)

mleonard79

That's true Dazza some accounts don't seem to appear on credit files but I think that just being able to say on an application for something that you've had an account with one institution for 10+ years can't hurt.

Phoenix79_2

Thanks all. :beer: