Canceling current account application affect applying current account somewhere else

889panda

Please advise.

I applied for a current account today but I realised a few hours latter that another bank has a better current account, ISA and credit card deals.

I am thinking of canceling the application and waiting a month to open the current account I want?

My concern is how badly this will effect my credit score (as I know a search would have been done and large amount of search in one go is bad) and how likely the new bank I actually want to bank with accepting me.

Thanks any help will be great.

[Deleted User]

I would just leave it. Your credit score isn't real so can be ignored, and a bank account has limited impact on lending decisions.

Closing it is more likely to be interpreted as the bank closing it, which will concern anything.

889panda

Thanks for the quick response.
Please bear with me but my thought was that no account has been created yet as I did it online switching process so I need to send when they ask for it id. If I open the account all my direct debits will be switched and if a certain amount of money needs to be in the account other wise I'm charged.
So would I then have issue with switching to the new account in short amount of timr?
They say the account open in Feb.
Would I have to wait to switch?
Sorry if I 'm wrong.

[Deleted User]

If it involves switching and you no longer want to, then you may as well close it and hope the new bank accepts you.

889panda

I took your advice and canceled the application for the current account.
They said a hard credit check by Experian had been done and I was in a queue to be processed.
I promise this last questions:
Do I wait to switch to new current account bank or just apply say tomorrow. As I know looking desperate for a account may be a off putting factor.
If I get declined could that be a worse factor.

Thanks. Really appreciate the help as I know iv messed up and I am a worrier hence came on here.

[Deleted User]

No real harm in applying now. If declined, leave it a couple of months.