Closing Bank Account - Credit Change?

Rda89

Hi All,

My girlfriend and i set up a joint account with the aim of using it as a central repository for paying for joint bills, food etc.

I was unaware at the time that because she had a low rating (Purely because she never had credit, avoided credit cards/loans etc) and that this may have an adverse effect on my credit rating.

We have recently (Last week) closed the account as we never really used it - it didnt have an overdraft so nothing bad happened with the account however due to this credit rating malarky we deemed it best to close it.

Will this adverse effect mark our credit ratings for the next 6 odd years even though it was purely the financial link that was dropping the credit rating - or now that the account has been closed our ratings should be restored as they were when we had single pre-joint accounts?

Also will this be picked up automatically by the big 3 CRA's or do i need to go round each one and tell them?

Thanks,

Rob

goaroundnow

I am not totally sure about this but I don't think her having little credit history will impact on you. Although having a joint account will have created a "financial association" at the CRAs, if lenders look at her credit file when you make a single application for something, they would not credit-score her but just check she didn't have adverse / derogatory information registered.

I am sure that even though you have closed the joint account, the financial association will remain until you file a "Notice of disassociation" with each CRA.

simax

goaroundnow wrote: »

I am sure that even though you have closed the joint account, the financial association will remain until you file a "Notice of disassociation" with each CRA.

This......