5 Current Accounts - Credit Score?

supermanjo

Hi,

On my credit report, I have 5 current accounts active, even though I only use the one from TSB.

There is no credit available from either account, 4 of them are just basic bank accounts that where set up over the years which I stopped using. Is this a problem?

If I where to close them down would they fall off my credit report or stay there?

Would this be an improvement on my file? I'm after fact, not opinion. Has anyone closed down old current accounts and had their score increase because of it?

Thanks!

Tremour-88

As its a normal bank account with no credit it wouldn't make much of a difference to you, and if you closed them it'd drop off after 6 years.

supermanjo

Tremour-88 wrote: »

As its a normal bank account with no credit it wouldn't make much of a difference to you, and if you closed them it'd drop off after 6 years.

I'd rather keep them as they are all from major banks. HSBC, Natwest, Barclays & Sandander.

If anyone needs to make me a payment, or I need to send them payment, its better to send it from the same bank that way it would be instant!

Tremour-88

supermanjo wrote: »

I'd rather keep them as they are all from major banks. HSBC, Natwest, Barclays & Sandander.

If anyone needs to make me a payment, or I need to send them payment, its better to send it from the same bank that way it would be instant!

You could do, just make sure to keep at least £1 in there so they don't report as inactive accounts to CRA's

supermanjo

Tremour-88 wrote: »

You could do, just make sure to keep at least £1 in there so they don't report as inactive accounts to CRA's

Yup, they all about a couple of quid laying around in all of them. :money:

supermanjo

Tremour-88 wrote: »

You could do, just make sure to keep at least £1 in there so they don't report as inactive accounts to CRA's

Oh, the one other one I forgot to mention, I have a biz account with L TSB that I have yet to make use of. They set it up over the counter as they where being persistent EVERY time I walked in so to shut them up I let them open me one. Even though this has not shown on my credit report, would a biz account be a positive, or a negitive on a credit report?

Thanks!

Bravehearted_2

supermanjo wrote: »

I'd rather keep them as they are all from major banks. HSBC, Natwest, Barclays & Sandander.

If anyone needs to make me a payment, or I need to send them payment, its better to send it from the same bank that way it would be instant!

This logic is pointless.

All those banks have Faster Payments facility. Payment across any is virtually instant in most cases.

YorkshireBoy

supermanjo wrote: »

Is this a problem?

No.

If I where to close them down would they fall off my credit report or stay there?

Both! They'd fall off after staying there for 6 years from the date they were closed.

Would this be an improvement on my file?

No, not if they didn't have borrowing facilities, ie overdraft facilities.

Has anyone closed down old current accounts and had their score increase because of it?

The CRA score is irrelevant. It's what the lenders themselves think of you that matters.

But for the record, I have 13 full feature current accounts (4 of them with overdraft facilities...and 2 of those with significant facilities) and I've never been declined a current account...or a credit card due to having these. I can attribute all my credit card declines to too much used credit, ie over-indebtedness, not the number of current accounts I have.