switching bank account every year good or bad

manishrana

Hi to everyone ,
I wonder if i keep switching bank currect accounts every year or couple of years ..will it have any effect on my credi history ? .please bear in mind i always pay my credit card billls on time and in full without default .
But keep switching currect account every year or couple of years will show me as bad customer or unrelaible customer???
what is the thum rule..for how long to stick with a bank ?before it start to effect your credit file .

[Deleted User]

It might be worth keeping one longer term account.

But current account switching is far more common these days, and less important in the wider picture, as long as you demonstrate good account management.

Willing2Learn

Hi,

Don't worry about your score as lenders neither see nor use it. Your score is just for your eyes only.

I'm always switching accounts, but I keep one long-term current account open, as an aged account looks good to lenders as it signifies stability. I just open up donor accounts for any switch reward. I'm also opening current accounts that either pay good interest on credit balances, or have a linked Regular Saver account.

danthemoneysavingman

OP, you asked if it will have any affect on your credit history.
What do you mean by this question?

manishrana

I mean switching current accounts with different banks every couple of year ..will it come in my credit report that i am unreliable in sticking to a bank for long term??is it bad or good ??

danthemoneysavingman

It is only one of many factors involved in making a lending decision. Ultimately I don't believe so / haven't found so myself. They do suggest you try to stay stable for a period before, say, applying for a (re)mortgage. So it's only possibly relevant if you are actually applying for something significant, I suggest. If you're not applying for other credit, it is neither here nor there!