Unused bank account - should I close it?

danedin

I've got quite a few current accounts and they all show up on my credit files. I think they're fine provided you don't have an overdraft maxed out on each. Obviously there are subtleties of credit scoring systems that vary from bank to bank so I think it'd only be a real issue if you were being refused credit. The only benefit you would get from closing it is that it would be a satisfactorily settled account but maybe it's just as good to keep it open and maintain it properly.

IMO CLAPTON makes some good points and why it's useful to have a spare, or several spare, current accounts.

chanz4

dont halifax re credit check overdraft downgrades?

matttye

Take it from me, close it!

Halifax told me no further fees were due and this happened: https://forums.moneysavingexpert.com/discussion/4508387

This is almost identical to me; I paid off an overdraft too.

System

The bank are likely to remove the overdraft if the account is unused. You might as well just take it off completely yourself rather than reduce it.

IMHO I don't see any benefit for retaining it; you have another (older) Halifax account and an account elsewhere. It's unlikely that LBG and RBSG will go down at the sametime.

iclayt wrote: »

Thanks for opinions everyone! I think I will take the £50 credit out of it to leave it at £0, and perhaps reduce the available overdraft on it, from £2000 to say £500 for now. Good plan?