Basic bank account effect on score

eem

Hello all,

If I have a basic bank account, does having this account affect my credit score negatively?

Many thanks.

[Deleted User]

Lenders will just see a bank account on your files.

Anything it does to your score is irrelevant.

Willing2Learn

Deleted_User wrote: »

Lenders will just see a bank account on your files.

Are Basic accounts actually recorded on the credit file? I'm not sure if they count as a credit account or not?

[Deleted User]

I believe they are - as even though they come with no credit facility, they still have the potential to go overdrawn via an offline transaction.

But I may be wrong.

stehouk

Basic accounts are recorded, i have one with Santander, i also have a 123 lite account, and a third account is also recorded which i don't have but i assume it is the debit card that has to be topped up prior to use that is recorded, i don't use it anymore so i should close it.

boo_star

stehouk wrote: »

Basic accounts are recorded, i have one with Santander, i also have a 123 lite account, and a third account is also recorded which i don't have but i assume it is the debit card that has to be topped up prior to use that is recorded, i don't use it anymore so i should close it.

It seems unusual for a prepaid card to report to the CRAs. It's completely unnecessary.

A4445

Basic accounts are definitely on your credit report!

PaulW922

Yes basic bank accounts do report to CRAs. They just show up as current accounts - the type is not recorded. So provided you manage the account properly, this will have a positive effect.

eem

Thank you all very much for your replies.

sourcrates

Hi,

Basic bank accounts are recorded on your file like any other bank account, although your balance will just be set at zero.

If a basic account is all you can get, then the effect it may or may not have on your largely useless credit score is frankly irrelevant, I wouldn’t worry about what could of been.

boo_star

sourcrates wrote: »

Hi,

Basic bank accounts are recorded on your file like any other bank account, although your balance will just be set at zero.

If a basic account is all you can get, then the effect it may or may not have on your largely useless credit score is frankly irrelevant, I wouldn’t worry about what could of been.

This isn't correct. The CRAs don't know what type of account it is so the affect on your made up score is zero.