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Would taking a 2nd Bank Account affect credit score?
Top-ranking_Bug
Posts: 90 Forumite
First, my credit history:
I have a truly dreadful credit score (557 on Noodle) after years of paying off debts via Stepchange (CCCS). As I was on the verge of going bankrupt, I opened a Cooperative Bank account (the only bank which would give accounts to Bankrupts). However, now that I am :j debtfree :j I want to repair my credit, so I applied for, and to my surprise, was given a TSB Classic account about 4 months ago, and switched from Cooperative.
I noticed when my Cooperative account was closed, my credit rating went up.
Now I am in the position of having some spare money and want to open a 2nd TSB Classic account to get the best interest.
My question is - finally - will opening a 2nd account have a negative impact on my credit score?
I have a truly dreadful credit score (557 on Noodle) after years of paying off debts via Stepchange (CCCS). As I was on the verge of going bankrupt, I opened a Cooperative Bank account (the only bank which would give accounts to Bankrupts). However, now that I am :j debtfree :j I want to repair my credit, so I applied for, and to my surprise, was given a TSB Classic account about 4 months ago, and switched from Cooperative.
I noticed when my Cooperative account was closed, my credit rating went up.
Now I am in the position of having some spare money and want to open a 2nd TSB Classic account to get the best interest.
My question is - finally - will opening a 2nd account have a negative impact on my credit score?
I incurred the debt, I repaid the debt - all of it!
DMP started with CCCS 20/07/2007 Was £32,735. Paid off all my creditors (June 2013) 7 yrs ahead of original DFD.
PPI claims won against Barclays x 2/ Egg x 1/ LV x . PPI claims rejected and then upheld Barclays/Egg x 2
DMP started with CCCS 20/07/2007 Was £32,735. Paid off all my creditors (June 2013) 7 yrs ahead of original DFD. PPI claims won against Barclays x 2/ Egg x 1/ LV x . PPI claims rejected and then upheld Barclays/Egg x 2
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Comments
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It will have a short term effect on your credit score, as they will perform a credit search once you apply for another account.
They may also not do another credit search they may simply do it on what they already know about you.
Either way you can't be certain which method they will use when assessing your application.Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:0
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