Will switching current accounts damage my credit rating?

Bumbelina

Have posted a similar question on the Current Accounts board and got useful replies about different current accounts, but what I really want to know is whether it counts for anything if you stay with the same bank for a long period of time. I've been with the Halifax for about 11 years but am thinking of changing. However, I won't do it if it's going to damage my credit rating - one of the questions on the application forms always seems to be how long have you been with your current bank, which is what makes me wonder. Why ask that question unless the answer has some importance?

file_wizzard

The only effect this will have is the way that a prospective lender “scores” your application i.e

You may get;

· 50 points for 0-6 months
· 100 points for 6 months – 2 Years
· 150 points for over 2 years

( fictitious point scores for e.g )

The only “negative effect on your credit file “score” will be any “application for credit” i.e if you made 6 applications in one day this would set alarm bells ringing to other lenders of either a fraud, or a desperation for credit