Old current accounts...worth keeping?

Belial19

I have recently switched two bank accounts to take advantage of incentives, and I am now left with just the one 'old' graduate account, started in Sep 2010.

I am considering switching this to a current account with Santander for the 3% deal on balances, however, if I were to do that, it would mean all three of my current accounts will have been taken out in the past month.

My question is, will having three 'new' bank accounts potentially impact my credit, or is it worth keeping hold of the one from 2010 to provide some extended history?

Thanks in advance

GingerBob_3

Belial19 wrote: »

I have recently switched two bank accounts to take advantage of incentives, and I am now left with just the one 'old' graduate account, started in Sep 2010.

I am considering switching this to a current account with Santander for the 3% deal on balances, however, if I were to do that, it would mean all three of my current accounts will have been taken out in the past month.

My question is, will having three 'new' bank accounts potentially impact my credit, or is it worth keeping hold of the one from 2010 to provide some extended history?

Thanks in advance

Keep them. Put 1p per year in to ensure they remain active. You never know when you might need additional bank accounts. I doubt it would affect your credit rating, but others more knowledgeable on this will advise.

Belial19

Ok thanks, does it matter that the older one is a graduate account? I can still use that in the same way I use a current account

pete-20-11

The odd account shouldn't matter, but there is something about available credit impacting credit scores.

More for credit card, overdrafts etc - the more credit options you have, the more risky it may be in their eyes - as you could suddenly dip into all of the accounts.

Thrugelmir

Experian collects data relating to current account turnover. So secondary accounts are increasingly of little benefit.