Cash card account effect credit rating?

princess2102

Hi

Was just wondering if cash card accounts effect credit ratings? I already have 2 normal current accounts several credit cards (paid off) but just wanted something to use as a pocket money style card.

Many thanks in advance

princess2102

Also will it effect getting a mortgage at some point in the next year?

thebritishbloke

No it won't, they're not lending you any money.

27col

You don't have a credit rating.
What you have is a credit report. The information in this is used by potential lenders to decide whether you are credit worthy

SnowTiger

princess2102 wrote: »

Hi

Was just wondering if cash card accounts effect credit ratings? I already have 2 normal current accounts several credit cards (paid off) but just wanted something to use as a pocket money style card.

A Basic Bank Account? The account will probably appear on your credit report, but not the fact that it's a Basic Account.

rizla_king

RichardMiller wrote: »

The very first thing you have to know is that you can not have a credit rating without having a credit card. But credit cards are just one part of your overall credit rating. Yes credit card can affect your credit rating, credit cards are only a part of the credit rating. Consolidating and eliminating debt is the best way to improve your credit rating

You are either daft or getting ready to spam. :cool:

PaulW922

If our cash card account is in fact a basic bank account (such as a Barclays or Nationwide one) then your conduct of it will appear on your credit file as others say. Provided you manage it properly this is a good thing.