Opening multiple accounts

jackr5

Hi all,

I have recently been moving my bank accounts and have switched my main current account to Nationwide and then opened a Regular Savers and an ISA.

Now I would like to open a Santander 123 account too, but I'm concerned about any credit rating impact from opening so many accounts in a short time? I should have really moved my main account to Santander in the first place but what's done it done.

Is there any chance of negative impact?

Thanks in advance

john1002

Recent searches will have an impact but so will your credit history, length of time in your address and employment, credit utilisation etc, nobody will know your own personal circumstances but I've opened about 8 new accounts both current, loan and credit card in a space of 3 months and I got the Santander account but got refused a credit card from creation so I would just apply and you should hear almost straight away if successful via email or if on phone immediate.

Good luck let us know how you get on.

John

savingwannabe

I opened two bank accounts in one week one with Tesco and Marks and Spencer sent me an email to accept me too. So it is possible. Good luck.

20aday

Late last year/earlier on this year I opened multiple bank accounts to make use of the various incentives offered by some of the big names.

The only one I was declined by was HSBC. I was half expecting that as I'd had previous financial problems in the past with them and for a few years unable to meet the terms of repayment as previously agreed.

Doctor_Duke

As others have said it depends on your general overall credit history. Opening two current accounts alone in a short space of time is unlikely to have a significant, if any, impact to your credit worthiness. I'd be surprised if you got a decline but obviously we don't know your current and past credit management.