Does changing your bank affect your credit rating?

Miss_Chilli

I'm looking to buy a house this year and have been trying to ensure all old credit cards are formally closed so I can ensure I have the best credit rating I can before I apply for any mortgages.

One thing I remember when applying for credit (a while ago) was one of the questions was your bank and how long have you been with them (since 1991) and I know banks are now enticing you to go to them with £100 and cash backs, but would changing my bank account now have any impact on credit scoring?

Thanks :beer:

YorkshireBoy

Miss_Chilli wrote: »

...would changing my bank account now have any impact on credit scoring?

In one word, yes...especially one held for over 20 years. However, you'll never know how bad the impact will be, but by then it'll be too late so leave well alone.

I open accounts left, right, and centre...but would never close my longest held one (which I've had for over 33 years now).

The_Boss

YorkshireBoy wrote: »

I open accounts left, right, and centre...but would never close my longest held one (which I've had for over 33 years now).

Ditto. My oldest was opened in 1996 and doesn't show on my credit file either (as I assume yours do not).