Changing of financial products and impact on credit score

Kipper06

Hi,

In the period around Christmas I have done a long overdue audit of my finances. I have identified a few accounts/products I want and want your advice on the impact to my credit score. Unfortunately this means I have to explain the current situation in detail..

I have been with the same bank (bank X) for 10+ years (since 14 and now in mid to late 20s) and had 2 current accounts with them. I recently switched my main account to bank Y (with an incentive) and opened a regular saver with bank Y. I left £10 in the other account just to keep it open. I also have a credit card with bank X that has a high credit limit with I intend to keep.

The other products I have are a joint account with a third bank (bank Z) with my other half and an BA Amex card (obtained in last 6 months). I also have a store CC that opened to get a 20% discount (was significant) but have never used since.

I want to open a one year fix saver with Atom bank. I also want to add some products with no transaction fees abroad. I was think of adding a Starling bank account as no hard credit check and possibly obtaining a barclaycard platium travel CC. I was also considering ditching my dormant products (unused store CC and dormant bank X account) as starling bank offers better interest on residual money.

I have a recent credit score of 999 from Expeian and although that doesn't mean much I just wanted to gauge the impact of making 5 transactions (3 openings 2 closures) in such a small space of time. Maybe more considering 2 accounts opened with bank Y before Christmas.

I apologise for the long message and appreciate any advice you may have.

[Deleted User]

The impact will be zero.

Yes your score will drop - but as you've said yourself it does mean much. Indeed aything.