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Opening Savings Accounts with a poor credit history
in Credit file & ratings
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Help! For the last 6 months we have completely struggled to pay bills and have been in a situation of paying the credit card bill late. In addition, my bank account was taken under the wing of the bank credit recovery team for 4 months to ensure it was running ok again. As another nail in the coffin, we were 3 months behind on the mortgage payments. We are fairly confident our credit rating has gone from perfect to poor in 6 months. I have been advised in the last month that my bank accounts are running fine again and they have been returned to branch. This week I cleared all overdue with both the credit card and brought the mortgage fully up to date. I have over £150K I need to invest by opening some high interest accounts (quite a few!), but I am worried I won't be able to open accounts due to my recent poor credit history. Since it is saving accounts I am needing to open, so I am depositing not borrowing, will I still face issues of credit checks and likely refusal? Also any advice on what I should do if that is the case. I can't leave such a high value to 0.5% rates.
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