Multiple current accounts

DeanMB

First of all, sorry if this is in the wrong section - I understand it may have been better in the Mortgages section.

Just wanted to see whether having multiple credit accounts is likely to have an adverse effect on my credit file.

I understand that this wouldn't usually be any concern, however I'm likely to be in the first time buyer situation within the next 12 months.

I currently have 2x TSB accounts & 2 x Tesco accounts, all maxed out with my deposit savings so far.

All are in positive balance with SO's between one another, which I think will have meant that the accounts haven't become dormant in the eyes of a lender.

One account has my wage paid into it, with 2 DD's coming out of it. When I come to get a mortgage my plan is to keep that account open and shut the other three.

I have never been refused anything as a result of a credit check.

Can anyone see the accounts becoming a problem for me?

molerat

A lender will not see a positive balance or usage of a current account. All they will see is any overdraft facility, the use of it and if the account has been run correctly.

YorkshireBoy

Tesco no longer requires £750 monthly funding, so you could cancel those SOs if you wish.

Kim_13

I wouldn't shut the accounts. They may be useful for savings in the future and as TSB is now limited to one sole, you wouldn't be able to get the second back again.

If you had a ridiculous number then maybe, but your number is quite normal.