How many banks?

iwanttoberich

I need to rebuild my credit rating. I have been reading the citibank thread and it seems to be easy to get a VISA debit card. I currently have a Solo card with Natwest. I also have an online savings account with Halifax. Since I will be travelling abroad next year I opened a Nationwide account for the no fee bits on foreign money, but they only gave me a cash card.

I was wondering if there is a limit on how many different banks you can have accounts with? Is it worth me applying to Citibank or should I just plod along with my Solo card and hope that the good people at Natwest will someday upgrade me to a proper card?

SalsaDanca

There is no limit on the number of current accounts you can have. Some people on this board claim to have more than a dozen. It can look bad on your credit file if you have too many overdrafts or too much available credit, but having a few current accounts shouldn't be a problem. However, don't apply for too many accounts in a short period of time, as having a lot of credit searches on your file can make it look like you are desperate for credit.

Savings accounts don't appear on your credit file, and you can open as many as you like.

I'm sure that someone else will be able to suggest an account that will give you a proper debit card. The people on the Debt Free Wannabee board have some experience of this problem, so try asking there if you don't get any luck here.

Regards,

Rob

iwanttoberich

Thanks Rob.