Do many bank accounts affect credit scoring?

StarX_2

As per subject. I refer to savings/current accounts.

Galstonian

Any and all factors may be taken into consideration, it will depend on the criteria which is set for the application. I don't think savings accounts matter terribly much but current accounts will. Why would you want many?

Milarky

Surely current account overdrafts aren't revealed on 'searches' - just the fact that you have applied for a current account? So I suppose the number of accounts [to the extent that it bumps up the number of searches] associated with such applications could cause a problem at some stage. But.. what if they could see who was permanently overdrawn - or who stayed in credit all the time that would be very uselful to credit card issuers would it not....?  ;D

Galstonian

IIRC they can see the o/d limit on some reports

StarX_2

Why would I want more? Because an interest free overdraft is basically better than holding a 0% card (never expires + doesn't affect credit scoring).
Am I missing smoething?
StarX

cifpower

Missing something?

No, only a pleasant tone.