Going full monzo and credit score

themorganator4

Hello all,

I have decided to go full monzo (use monzo as my main current account) I have just read that monzo only report to 1 of 3 of the UK credit agencies therefore it may show on the other 2 that I have no current account.

My question is: I have a Santander account which I use solely for bills (rent etc) this will remain open. Will my credit score be that affected and if so will my credit card companies start demanding money off me as they see I have closed my main account?

jimbo26

Financial companies do not know which bank account is your MAIN account, they just see you have x number of accounts and what the overdraft limits are (if you have one).

Your made-up score will drop solely because of a new search and new account being opened. You can safely ignore the score decrease as it is meaningless.