Are there any advantages to an 'older' current account?

[Deleted User]

The people who have had their accounts for 40 or 48 years... I'd doubt they're being reported to CRAs anyway, being that old..

badger09

billbennett wrote: »

The people who have had their accounts for 40 or 48 years... I'd doubt they're being reported to CRAs anyway, being that old..

My 40+ year old current account with Co-operative appears on all 3 CRA reports. No overdraft facility & never been overdrawn:p

gingercordial

I also keep my oldest Natwest current account to show stability. Thirty years here, opened for me when I was four years old :-) It appears on my credit reports dating from the year I turned 18, which is probably when I applied for my first overdraft on it as a student, but it has been the same sort code and account number all along.

It is also my main "working" current account as I prefer the app and online banking to most others and have always found Natwest helpful. However I have another dozen current accounts to actually keep any money in...

Paul_1977

I have been accepted for credit cards, and in the box where it says, how long have you had your account, I told the truth and said two months.

Still got accepted, but its one factor of many.

Its nice to have an account you have had for ages.

My oldest account which I have had for 24 years is a savings account but does not show up on credit reports.

YorkshireBoy

Paul_1977 wrote: »

Still got accepted, but its one factor of many.

I would imagine "length of time with bank" will affect things such as limit, APR, and 0% duration (with those lenders such as Halifax who rate for risk) more than determine accept/decline. And because of that you'll never really know what impact a short time with bank has had.

No_6

My 48 old account shows on Noddle with no adverse data
and as a retired person, just got 11k, for a 1.3% BT card,
over 32 months from Barclays.
Just in time to clear a few 0% purchase cards, that were nearly due

One happy 6