Credit report shows an account i forgot I have. Does this mean its still active?

sacvwgolf

Hello all,

I very recently applied for a form of credit and got rejected :mad: (very likely due to me not being on the current electoral roll - just applied to get on it) so i decided to check out my credit report and see how accurate it is.

Looking on 'check my file' my credit history shows three open accounts: My mobile phone contract, my current bank account and a very old Santander bank account that I forgot about. I got the account from Feb 2006 (im guessing it carried on from my Abbey account) and its says at the last credit report update (Feb 2015) that its status is 'open'.

Just to be clear, this means that my account is still open? Whats the best way for me to close it as i can barely remember anything about it? All I have is my name and the last four digit of the bank account.

Thanks

colsten

As long as you don't have any default markers, or any overdraft limit on that Santander account, it can only be positive for you. This is because it shows that you can manage an account with a credit facility over many years.

Whether the account is really still open is a different matter. Though it sounds as if Santander are still reporting on it so it probably is. You'll have to ask Santander. You can use https://www.mylostaccount.org.uk/ to get information, or just call them. Or let sleeping dogs lie.

Nebulous2

You could also use it as a donor account, to get a switching fee for opening a new bank account. Is it a current account rather than a savings account?

sacvwgolf

It is a current account. My understanding was that having accounts that are no longer used still open was a bad thing?

Nebulous2

sacvwgolf wrote: »

It is a current account. My understanding was that having accounts that are no longer used still open was a bad thing?

I think it is fairly neutral, it doesn't do much if any harm. Some bank accounts are offering a payment to you to switch your account to them and you often need to use the switching service to get the fee and then meet some funding requirements. Some of them also want several direct debits coming from the account, but in return for that you get a useful sum of free cash.

Many people on here have multiple current accounts. I've just gone up to 4, but a lot of people have well into double figures.

Check out the bank account forum here.

planteria

yes, i would move it for an account transfer incentive. if you want to move to Yorkshire Bank, for example, you will need to obtain a debit card for the account. so just go to a Santander branch and request a debit card to be sent for you

colsten

Nebulous2 wrote: »

You could also use it as a donor account, to get a switching fee for opening a new bank account. Is it a current account rather than a savings account?

Savings accounts don't show on credit files

sacvwgolf wrote: »

It is a current account. My understanding was that having accounts that are no longer used still open was a bad thing?

That's not correct - if anything, it will be the opposite if it shows 'green' for months on end. The only times an account can negatively impact your ability to get credit is when it has default markers, or if a very large sum of credit is on it.

In addition, nobody can tell conclusively from your credit files whether the account is used or not.

sacvwgolf

It has come up as 'Green Ok' on my report since it was opened. At the very least I need to change my address on it.

System

You could go and ask them to convert it to a 123 account

sacvwgolf wrote: »

It has come up as 'Green Ok' on my report since it was opened. At the very least I need to change my address on it.

sacvwgolf

Hmm perhaps but Im not sure that account would suit me plus it would involve a lot of juggling and due to me failing to get credit I'm trying to bring everything into order. Although saying that, adding all my previous addresses has boosted my score by 90 points ( I know the score is almost meaningless but at least my report is now more accurate and appearing to have a positive affect on my report)

badger09

Nebulous2 wrote: »

You could also use it as a donor account, to get a switching fee for opening a new bank account. Is it a current account rather than a savings account?

planteria wrote: »

yes, i would move it for an account transfer incentive. if you want to move to Yorkshire Bank, for example, you will need to obtain a debit card for the account. so just go to a Santander branch and request a debit card to be sent for you

Heng_Leng wrote: »

You could go and ask them to convert it to a 123 account

This is going to be impossible, until OP has the full account details :cool:
"i can barely remember anything about it? All I have is my name and the last four digit of the bank account."

OP, the quickest way may be to go into a Santander branch with photo ID and proof of address and ask them for the full account details. You may need to make an appointment first

Once you have those, you could use it for a short time then try upgrading it to a 123 account, or if that doesn't suit you, use it for a switch incentive