Opening new ISA- credit score

balukanda

Hi,

I have a query about any possible effect of opening a new ISA , on the credit score. I read on another thread on this forum that , applying for a new account can create a " hard search" on your credit file. I have an existing ISA with Nationwide , but want to " transfer" to another ISA for the coming year. Despite what they say about this being a quick straightforward thing, this would involve "opening " a new account.

The reason I am worried is that I am about to apply for a mortgage and also in the past doing similar current account "transfer/upgrade " Nationwide declined a silly £50 overdraft, when I already had a similar overdraft with the then existing current account. On querying this Nationwide's reply was that it is purely up to their credit reference agencies that the overdraft was declined, and it had nothing to do with them . Obviously I do not want anything to affect my mortgage application. Any thoughts would be much appreciated !

Thanks

[Deleted User]

ISA's aren't reported to the CRA'S.

Only current accounts and credit cards. And loans. Etc.

I would check your credit files - if you were declined for a £50 overdraft then I would question getting loaned a 6 figures sum for a mortgage.

[Deleted User]

Also nothing affects your score or rating since neither exist

balukanda

!!!: Many thanks for the response. Will keep an eye on the credit file

[Deleted User]

Keep an eye for what?