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Minimum balances in bank accounts and impact on credit rating

Cropstar · 2023-12-01 13:24:41

When I log into Clearscore, some of the impacts on my "affordability score" are: - Your balance is often below £1,000- Keep £200 in each account. Since I saw this a few months ago I've been keeping a £1,000 float in my primary bank account and £200 in each of my spare accounts. Is this really necessary though? Some of the…

Comments

flaneurs_lobster Posts: 7,445 Forumite

2 December 2023 at 1:21PM

ZeroSum said:

On clearscore all of my accounts show a zero. Credit ratings aren't impacted by how much you have anyway

Unless you have linked your current accounts to Clearscore, those zero amounts are the amounts of outstanding lending on those accounts eg used overdrafts.

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