Changing Current Accounts

matt4504

Hey,

Just wondering, but is it a bad thing to change current accounts often aka credit rating or does it not really matter?

Matt

Bokken_2

I currently have ten accounts and it hasn't affected my credit rating.
It might do if you keep closing them as a new credit check would take place for each new account opened,once opened just leave them open and use as you see fit unless you want a particular feature that a new account is offering to new customers there is no need to keep swapping.

YorkshireBoy

When you are being 'scored' for credit, one of the key stability factors is length of time with bank.

So, swap and change for better deals if you like - but don't ever close down a long-held current account.

Do bear in mind though, that any overdraft given with the new account will be shown on your credit report.