If a bank closed my account will it affect my credit?

Savingforahouse123

I have a Virgin Money account which pays 2% interest up to £1k which is the highest albeit only up to £1k. I discovered I can open multiple Virgin accounts and make the most of the interest.

So I ended up opening 4 of them. 

I recently discovered this is against their terms (silly me for not reading them!). They say: 

"From 18 February 2022, you are only able to open 1 of these accounts in your own name. Accounts opened in your own name after this date that take you over this maximum number will have to be closed. If we close your account, we’ll return any money due to you. Any accounts already opened before this date will remain unchanged even if you exceed the maximum now allowed"

If they found out and closed my accounts, will it affect my credit score?

lozzy1965

I doubt it.  You could check with them.

Malthusian

Probably not. But it doesn't matter anyway as credit scores are meaningless.

Your credit history is what matters and inadvertently breaching the terms and conditions of a current account would almost certainly not affect any loan offer.

Savingforahouse123

Malthusian said:

Probably not. But it doesn't matter anyway as credit scores are meaningless.

Your credit history is what matters and inadvertently breaching the terms and conditions of a current account would almost certainly not affect any loan offer.

Thank you. I'm a bit late now but I've read that opening multiple bank accounts in quick succession isn't meant to be good (even if they all don't have an overdraft). I feel I've messed up here!