Credit score related to the money in your bank account?

Alex32

Myself & a friend were talking about this the other day and it got us thinking, could the money in your bank account/s be related to your credit score in some way.


But in order for this to happen your bank would have to tell the credit reference agencies and I'm guessing that would be against some data protection laws.


Long story short, I've got a excellent credit rating and got a few grand bouncing around in my account and I'm good with money. While he's got all right/good rating but has over £20k siting in his account and is crap with his money.


If anyone out there could clear this up, that would be great thanks.

MNM2903

With the bank it may give them an indication of how you manage your money. So any borrowing from your bank it could look favourable. But as its not a credit agreement and its your own money im pretty sure this doesnt have an impact on your credit history/made up score.

The only thing that does show up is your overdraft and wether or not you owe money on that as this is classed as credit.

20aday

When applying for any form of credit you'll be asked for your annual income etc.

However lenders won't care if you have £200 or £20,000 in a bank account; this isn't viewable to them (but being overdrawn would, as MNM points out.)

Alex32

All right, well for thanks for that