Too many a/cs and credit checks?

kuepper

Had 2 current a/cs for a long time but In past couple of months switched both to different banks a) to get  switch money and b) interest on balance / access to regular saver at good interest. I also opened another current a/c for cashback and regular saver interest. I'm now thinking  of opening Virgin account to get 2% on £1000 as every little helps plus I'd be able to use debit card abroad when travel resumes. As I've opened a few accounts in a short time i wondered if there'd be a problem opening another and how another credit check would affect me ? Often wondered how many different a/cs ppl have current or otherwise, I've got 12 now which seems absurd but I'm just trying to squeeze what I can out of what I have.

colsten

Unless you are planning to apply for a big loan (mortgage etc) in the next 6-12 months, there is no reason at all why you shouldn't apply for another current account.

There's currently a thread somewhere on this forum about how many current accounts people have but I wouldn't be guided by what others are doing. Their requirements are unlikely the same as yours, even if they have twice the number of current accounts you have.

george9071

How many current accounts you have is up to you. It's not judged like a CC or loan as long as your not applying for OD's on all these account then there shouldn't be a problem.

colsten

george9071 said:

How many current accounts you have is up to you. It's not judged like a CC or loan as long as your not applying for OD's on all these account then there shouldn't be a problem.

Hard credit checks are carried out when you apply for a current account, regardless of whether you request an overdraft or not.

Your current accounts are listed on your credit files, and updated monthly. Any overdraft, regardless of whether or when it was applied for, will show on your credit files, too. Positive balances will not show.