Do multiple bank accounts negatively impact credit scores?

2 Posts

Hi,
I see there are some exciting deals reported on MSE about switching your current account to other banks. I'd like to take advantage of deals. However, I want to keep one stable current account in place.
So, would opening another current account to take advantage of these deals be negatively reflected in my credit score?
Would semi-frequent switching of current accounts between banks be negatively reflected in my credit score?
Thanks in advance.
I see there are some exciting deals reported on MSE about switching your current account to other banks. I'd like to take advantage of deals. However, I want to keep one stable current account in place.
So, would opening another current account to take advantage of these deals be negatively reflected in my credit score?
Would semi-frequent switching of current accounts between banks be negatively reflected in my credit score?
Thanks in advance.
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Yes GlenMSE ...
https://www.moneysavingexpert.com/banking/multiple-bank-switching/
Your credit score is never seen by anyone else but you but lenders do have access to your credit report and credit history when you apply for credit.
From what I understand, it can negatively affect your score but not in a way that wouldn't make it worthwhile — unless you've a mortgage application or something coming up (which might be the case for me, unfortunately).