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Upgrading current account
newuser78
Posts: 187 Forumite
I have been on a "Basic" account for 5 years but my credit report is much better now going from 1/5 to 4/5! :j
So I am going to my bank this week and ask them to upgrade it to a normal current account. I have no real need to upgrade but my Basic card only allows me to use Natwest/Tesco cashpoints which can be challenging on some days.
A few questions:
Will they need to do a credit check?
Will my credit report show the type of account? On Noddle, I just see "Current Account" under "Account Type".
I don't need overdraft so I will not ask for one although does having a small available amount (e.g. £200) improve credit rating?
In a few months time, I plan to open a high-interest current account or a credit card with another bank (e.g. 123, Nationwide, or Lloyds) just to have a "relationship" for the future as a potential mortgage applicant. How long should I wait before applying for one?
Thanks!
So I am going to my bank this week and ask them to upgrade it to a normal current account. I have no real need to upgrade but my Basic card only allows me to use Natwest/Tesco cashpoints which can be challenging on some days.
A few questions:
Will they need to do a credit check?
Will my credit report show the type of account? On Noddle, I just see "Current Account" under "Account Type".
I don't need overdraft so I will not ask for one although does having a small available amount (e.g. £200) improve credit rating?
In a few months time, I plan to open a high-interest current account or a credit card with another bank (e.g. 123, Nationwide, or Lloyds) just to have a "relationship" for the future as a potential mortgage applicant. How long should I wait before applying for one?
Thanks!
0
Comments
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Who is your basic account with, might be worth asking them to upgrade it may skip the credit check part.-== CREDIT BUILD IN PROCESS 30% COMPLETE ==-
Overdraft - £0 Used/£500 Limit
Vanquis Card - £1000 Limit
Aqua Card - £1200 Limit
Barclaycard Platinum - £2500 Limit
Credit Utilisation 11%/Savings - £18000 -
cheops2006 wrote: »Who is your basic account with, might be worth asking them to upgrade it may skip the credit check part.
Natwest or RBS I imagine, given the withdrawal restrictions.0 -
Sorry yes, I am with Natwest.0
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