Basic account effect on good credit rating

ma5k

I am fortunate enough to have an excellent credit rating, which I naturally wish to preserve.

I am thinking of opening a Basic Bank Account (prob Barclays), in addition to other current accounts I hold. My reason for this would be online security (I currently only use a credit card online for protection, but now wish to transfer cash, link to PayPal etc & do not want to give account details of an account that would be a problem if it were compromised).

My concern is that if I open such an account will it raise questions on my credit files due to the inconsistency with my current top rating?

I've searched online but cannot find a definitive answer from a genuine expert.

Thanks

BugsyBrowne

I think your trolling IMHO.

ma5k

BugsyBrowne wrote: »

I think your trolling IMHO.

I appreciate your concern but I'm honestly genuine & sincere!
Regards
~M

BugsyBrowne

ma5k wrote: »

I appreciate your concern but I'm honestly genuine & sincere!
Regards
~M

The reason I said this is because credit scores don't exist yet you've said you've an excellent one not once but twice.

ma5k

BugsyBrowne wrote: »

The reason I said this is because credit scores don't exist yet you've said you've an excellent one not once but twice.

Sorry if I've used a phrase that is incorrect, I hope the spirit of what I'm trying to say is clear... I've taken great care with my credit history & don't want that spoilt by what could be a careless mistake regarding a basic account now!

Hope that's clarified things

As you're a senior forum member, I'm happy to provide landline through PM if you want to verify I'm genuine!

Regards

~M

rb10

ma5k wrote: »

I am fortunate enough to have an excellent credit rating, which I naturally wish to preserve.

I am thinking of opening a Basic Bank Account (prob Barclays), in addition to other current accounts I hold. My reason for this would be online security (I currently only use a credit card online for protection, but now wish to transfer cash, link to PayPal etc & do not want to give account details of an account that would be a problem if it were compromised).

My concern is that if I open such an account will it raise questions on my credit files due to the inconsistency with my current top rating?

I've searched online but cannot find a definitive answer from a genuine expert.

Thanks

No, it will not impact your credit history at all. No other lender will be able to see that it's a basic account (if it even shows on your credit report at all - not all basic accounts do).

ma5k

rb10 wrote: »

No, it will not impact your credit history at all. No other lender will be able to see that it's a basic account (if it even shows on your credit report at all - not all basic accounts do).

Thanks for the speedy & helpful reply!


Does anyone know a good source of reliable further info regarding exactly what would & wouldn't appear on my report before I proceed?

Thanks!

danielhermann

There will be no impact on your credit rating. Just opening another account where you feel that will protect your secrecy on the credit card, it is completely has no links with credit ratings. As you already have an account that will help you in opening a new account seeing that your credit rating is good. With the new account in place and you continue to have good & positive transaction this will help in further more increasing your credit ratings.

datlex

I'm puzzled as to how someone new is regarded as a troll because they talk about a credit score.

Regarding Barclays, their mobile app is very user friendly if you do decide to use them.

ma5k

datlex wrote: »

I'm puzzled as to how someone new is regarded as a troll because they talk about a credit score.

Thanks, but I'm confident BugsyBrowne had the best interests of the forum in mind when challenging me & I was happy to reassure/clarify!

datlex wrote: »

Regarding Barclays, their mobile app is very user friendly if you do decide to use them.

Thanks; appreciated!

bengal-stripe

ma5k wrote: »

I am thinking of opening a Basic Bank Account (prob Barclays), in addition to other current accounts I hold.

You might not be able to open another account, in addition to the ones (how many?) you already hold.

A basic bank account is likely to cost the bank money. From the bank's viewpoint, it is a subsidized account. The bank will open a basic account if no account is available, there is a need to hold one account. and you won't qualify for a proper current account.

In your case, the 'need' doesn't seem to apply.