How many TSB Classic Plus accounts can I still open?

kteara

Hi guys,

I opened 2 TSB Classic Plus accounts when they were first launched in my own name i.e. Sole accounts

How many more am I able to open as joined accounts?

would it be 2 more? One joined in my mothers name and another joined in my fathers name? or is it possible to open 4 more? like this:

1 in mothers name and mine
1 in my name and mothers

1 in fathers name and mine
1 in my name and fathers?

I heard there was a recent change in october which restricts how many accounts a new customer can open but am I right in thinking these rules don't apply to old customers?

I hope this thread isn't confusing, thanks!

colsten

The new rules apply to all applications. The absolute max number o Plus accounts a person can possibly have is 2 sole and 2 joint, i.e. your name can be on max 4 accounts by end of Jan 2015 if the rules allow you to apply for additional accounts.

http://www.moneysavingexpert.com/news/banking/2014/10/planning-on-getting-a-tsb-current-account-do-it-now-if-you-want-to-open-four

kteara

Ok so anyone was only able to open a maximum of 4 accounts?

After the rule people can only open a maximum of 3 accounts? Is this correct?

colsten

kteara wrote: »

Ok so anyone was only able to open a maximum of 4 accounts?

yes, 2 sole and 2 joint absolute max per person

kteara wrote: »

After the rule people can only open a maximum of 3 accounts? Is this correct?

As it stand currently, 1 sole and 1 joint max (i.e. 2 max in total) after Jan 2015. But you can keep what you already managed to get before then. At least that's the T&Cs for now.

kteara

@Colsten slightly off topic but will I still be able to open a joint Halifax Reward account after Jan 2015?

colsten

Can't see why not, as long as you haven't got one yet, and as long as Halifax don't change the rules. But why not do it straight away?

kteara

colsten wrote: »

Can't see why not, as long as you haven't got one yet, and as long as Halifax don't change the rules. But why not do it straight away?

I am looking to open 2 joint accounts with TSB: 1 with my mother, 1 with my father.

I am worried about my credit score plummeting and therefore being refused the opening of any new bank accounts. This is what happened to me last year when I opened 2x TSB accounts and a Nationwide FlexDirect account all within the space of 6 weeks.

Thanks.

YorkshireBoy

kteara wrote: »

I am looking to open 2 joint accounts with TSB: 1 with my mother, 1 with my father.

Are you/they happy to link all your credit files creating multiple associations? I wouldn't be.

kteara

YorkshireBoy wrote: »

Are you/they happy to link all your credit files creating multiple associations? I wouldn't be.

Apologies I am completely confused and ignorant to what you've just said. What do you recommend and why?

Thanks

YorkshireBoy

kteara wrote: »

Apologies I am completely confused and ignorant to what you've just said.

Applications for joint credit products (of which a current account is one) will create financial associations with other account holders. This means that whenever you apply for a credit product in the future, the decision will be based, in part, on your parents' credit rating...and vice-versa.

What do you recommend and why?

Stick to sole accounts, for the reason given above.


The only person you want a joint current account with is your spouse/partner if you have a joint mortgage.

kteara

YorkshireBoy wrote: »

Applications for joint credit products (of which a current account is one) will create financial associations with other account holders. This means that whenever you apply for a credit product in the future, the decision will be based, in part, on your parents' credit rating...and vice-versa.Stick to sole accounts, for the reason given above.


The only person you want a joint current account with is your spouse/partner if you have a joint mortgage.

Won't this in fact be beneficial in my case? I'm a 20 year old student. My parents have never been in debt apart from paying off a mortgage. They should have a perfect credit score and the prime purpose of these joint accounts is to reap the interest.