Length of time you've been with your current bank?

spike274

Why do they ask "Length of time you've been with your current bank?" when you are applying for credit?

If I change my bank account is it going to hit my credit score?

ShelfStacker_3

Yes. Lenders look for signs of stability; shifting banks, although good from a financial point of view, looks like you hop from bank to bank regularly and therefore hits your credit rating.

The same goes for moving house, btw. If you rent and move around often, it might be a problem.

YorkshireBoy

spike274 wrote: »

If I change my bank account is it going to hit my credit score?

Only if you close the old one down.