Will changing my current account affect my credit rating?

JoanneC_2

I will be applying for a mortgage in July but I want to change my current account from Lloyds TSB to Alliance and Leicester. Will changing my current account affect my credit score or should I just stick with Lloyds TSB until I get the mortgage then switch?

jonesMUFCforever

This will not affect your credit scoring at all.

The only things that will are missed/late payments or CCJ's.

thesaint

Length of time can change your 'rating'. In the case of a mortgage I too don't believe that it will make a difference.

Is it not possible to keep your old account open? It always looks better if you have had an account for longer when applying for other products.

computerwoman

I would keep the account open until you feel you dont need it anymore, and I dont believe that someone can get a bad credit score just by changing accounts. You would have to have a default or something to have bad credit.

lynxptc

It would result in a credit search however, but unless you make loads of applications in a short space of time it shouldn't lower your score