CASS Partial Switch

abz88

born_again wrote: »

Forget credit report, that number means nothing to banks and they do not see it.
It is your credit History that counts. As well as all banks have their own internal scoring on any borrowing.

I never mentioned a credit number (I assume you mean score), but as YorkshireBoy has pointed out, length of time with a bank does get looked at.

born_again wrote: »

Also CASS will mean that any funds sent to old closed account would be forwarded to new account. If someone has not sent you money in 36 months, then will they ever?

Yes, quite a few family members haven't sent me money in 3 years but will at some point in the future and have in the past done so without telling me, eg "Congratulations on your new job, I've sent you some money to buy a few drinks to celebrate!" (Most of my family are spread around, so don't see them too often).

born_again wrote: »

As to not liking santander. If that is the case then you just switch away.

Doesn't really help though does it, as I would still want a santander account for the rewards payment just not to use as my main account.

born_again wrote: »

Can't really see the point of partial switch. As DD's won't take much to updating companies. S/O can just be set up again.

That seems to be the conclusion I am coming to, no point using a partial switch, just open Santander and then manually move DDs across.

YorkshireBoy wrote: »

No mention of numbers or scores was made. The poster is referring to 'time with bank', and that data is most definitely seen by lenders when they search your file.

Correct, I am well aware that credit scores are pretty meaningless, but my credit report/history will currently show time with bank as significant. It is my only longstanding relationship, I switch energy, phone, insurance etc on a regular basis, my main mortgage is less than 2 years and the mortgage from my flat is under 7 years. So I would prefer to keep it as a longstanding relationship

colsten

It's perfectly valid to keep a longstanding current account that was kept in good order, as this will have a positive effect on your credit worthiness.

Moving your SOs/DDs manually and keeping the account semi-dormant (still log in now and then, at least) can therefore be a worthwhile exercise. I still have an ancient Nationwide FlexAccount for that reason (and a couple of others), and I moved my SOs/DDs away from it manually many years ago, before CASS was even an option. It's easy to do.