New account rewards help needed

creditmanessex

Hi

I've got two old bank accounts which I would like to switch to get two rewards currently on offer from the banks

Can I switch both at the same time? Ie use the switching service twice? 

And does anyone know if all of the major banks do a hard search and if some don't which do? It's annoying getting hard searches for the rewards!

Thanks

jbrassy

In answer to your first question: yes it is possible to switch 2 bank accounts at the same time.

In terms of hard credit checks, I would work on the assumption that they do. However, they are probably more likely to do a hard credit check if you also apply for an overdraft.

I would also say not to worry too much about them doing hard credit checks. This is only important if you're planning to apply for a mortgage (or some other important borrowing) in the next 6 months. Otherwise, switching bank accounts is not going to impact your ability to get credit in the future.

WillPS

To add to the above - after 12 months hard searches completely disappear so that is the absolute limit of the damage a search alone can cause.

creditmanessex

Is there a max people would recommend? Ie 2 / 4 in 6 months? 

Daliah

creditmanessex said:

Is there a max people would recommend? Ie 2 / 4 in 6 months? 

You can have as many as you like if you don't plan to apply for a mortgage or a credit card in the next 6-12 months.

creditmanessex

And if you were planning a mortgage what is the max?

Daliah

I'd not apply for anything until I had my mortgage sorted.