Repeated account opening

scroogemcduck2

Hi. I have opened two Tesco current accounts this year, and within a month switched to another bank to earn the switching bonus. I was considering actually just opening one now and keeping it because the rate is pretty good, but slightly nervous about opening another one. Are there any limits to how many you can open in a certain amount of time? Could I get refused?
Thanks!

EachPenny

To clarify, you opened two accounts with Tesco and switched both away within one month?

When you apply for an account it is always possible to get refused... but if the above is correct then you've probably significantly increased the probability of being refused by Tesco if you apply for a third time.

If you aren't planning on making any other applications you probably don't have anything to lose, but don't be offended if they do say 'no'.

scroogemcduck2

Yup, that's correct.

How bad would it look for credit score if it was refused? And would it jeopardise other account openings (with other banks)?
I've opened quite a few current accounts this year, including about 4 switches. So maybe my credit rating is in the toilet at the moment anyway?

TheShape

I wouldn't open loads prior to a mortgage application but I did open 19 current accounts in a 6 month period including 4 on one weekend. Only had one rejection for the HSBC Advance account, they did offer their standard account though. I think the HSBC account was application number 17.

Katiehound

Whatever you do keep a record of the dates ( month & year) you opened all these accounts because they are the kind of multi choice questions they ask if you fall foul of the fraud department! or even when they do a credit check to prove you are the person you claim to be.
I failed one question when I opened the Yorkshire a/c recently... it wasn't a problem but certainly delayed matters.

Lloyds is particularly good at this!( the fraud bit!)