Halifax High Interest accounts

Bisoy

Hi to all MSErs,

I am interested in applying for their High interest account. I am unsure if they will do any credit search on my file. I already hold several savings accounts with them as well as childrens accounts but not current account.

The reason I'm asking is that I am also planning to apply for a credit card soon. Will there be a problem doing both simultaneously?

I would appreciate any replies or someone who have similar experience.

many thanks

angelavdavis

Usually they recommend you restrict yourself to three credit checks every six months so you should be OK.

Bisoy

Do you think Halifax will still do a credit search even if I hold several accounts with them?

regularsaver1

They always do a credit search on a current account regardless of what you have with them

the fact you have a relationship with them is good stead though

YorkshireBoy

Bisoy wrote: »

Do you think Halifax will still do a credit search even if I hold several accounts with them?

Yes, and it will be recorded as "Application Type: Current Account". My opinion is that these do not have the same negative impact as credit card searches do.

You said earlier you were looking for a credit card shortly. In my recent experience with Halifax, when I opened my HICA I was asked if I also wanted a credit card with the words "it's all done with the one search". I can confirm this to be true, because I've checked my Experian & Equifax reports since.

So, a current account (no overdraft) and decent limit credit card with just the one "current account" credit search.

regularsaver1

That is only if you are offered a credit card on the back YorkshireBoy ( you can be guaranteed a credit card on the back if high credit score level), if not then it is a separate application and separate credit score

some savings and mortage customers can be guranteed products such as bank account, credit card and loan in which case its an internal decision. if you have you woulg have been informed, but worth asking

YorkshireBoy

regularsaver1 wrote: »

That is only if you are offered a credit card on the back YorkshireBoy ( you can be guaranteed a credit card on the back if high credit score level), if not then it is a separate application and separate credit score

...but if you're declined a credit card "on the back" there would seem to be little point in making a "separate application" for the same product. Presumably this would also be declined.

regularsaver1

What I mean is sometimes when we key bank accounts we get a message box saying that , that person is guaranteed a credit card and we can proceed to shorterned application where no further credit score for the credit card takes place

alternatively, the bank account may offer and then a customer can complete a full credit card application meaning credit score and income and expenditure taken and that may offer (& many do) too or may decline - this is a seprate credit score

I wouldn't read that just because a guaranteed offer hasn't come up that the credit card won't offer as this is not the case, - it just requires some further information

Bisoy

Yorkshireboy and regularsaver1 thanks for your replies. It would have been nice if Halifax would offer a credit card at the same time of applying for a current account. But with a BT fees of 3% I might consider Natwest and RBS 2% BT fees. But at a time of writing this post, Mary has just posted that Abbey is offering 8% on their current account. It's time to have a closer look.

cheers

Bisoy

I might still consider applying solely to grab the £100 offer but I'm unsure if they need SO and DD to be also transferred or SO alone will be sufficient as I have few CA with SO only.

Also will they require you to close your existing CA? Again many thanks.

mary

SOs only will do. That's what I did with Halifax Higher Interest and BOS Higher Interest. Got both with £100, and didn't have any DDs at all.