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  • FIRST POST
    • Debtfreestudentnurse
    • By Debtfreestudentnurse 16th Apr 19, 9:20 AM
    • 46Posts
    • 4Thanks
    Debtfreestudentnurse
    Does switching banks affect credit file?
    • #1
    • 16th Apr 19, 9:20 AM
    Does switching banks affect credit file? 16th Apr 19 at 9:20 AM
    Iím thinking of taking advantage of the NatWest offer, but donít want the closing of my Barclays account to affect my rating.

    No money is owed, and Iíve had the account since 2016.
Page 1
    • zx81
    • By zx81 16th Apr 19, 9:32 AM
    • 21,742 Posts
    • 23,659 Thanks
    zx81
    • #2
    • 16th Apr 19, 9:32 AM
    • #2
    • 16th Apr 19, 9:32 AM
    It will show as a new account, and the old one being closed.

    Not an issue if you have a well managed history.
    • Debtfreestudentnurse
    • By Debtfreestudentnurse 16th Apr 19, 9:41 AM
    • 46 Posts
    • 4 Thanks
    Debtfreestudentnurse
    • #3
    • 16th Apr 19, 9:41 AM
    • #3
    • 16th Apr 19, 9:41 AM
    Always been well managed.

    Thanks!
    • tryin
    • By tryin 16th Apr 19, 10:55 AM
    • 109 Posts
    • 24 Thanks
    tryin
    • #4
    • 16th Apr 19, 10:55 AM
    • #4
    • 16th Apr 19, 10:55 AM
    One of the things which lenders look at is how long you have kept your accounts open. A long history is looked at as more stable. So if that account is an old account maybe you should instead open a 'donor' account, specially just to switch.

    Although as they said, if you've got a good credit history maybe it won't make a difference.
    • SlovakianGuy
    • By SlovakianGuy 17th Apr 19, 11:20 AM
    • 157 Posts
    • 58 Thanks
    SlovakianGuy
    • #5
    • 17th Apr 19, 11:20 AM
    • #5
    • 17th Apr 19, 11:20 AM
    Everyone should have at least 2 or 3 current accounts in different banks (and do some transactions on them), just in case one bank gets into trouble, such as TSB with their IT meltdown last year.

    You can keep one account (and some credit card as well) for years, just to show stability. Then you can switch the other one or two accounts. If you only have one current account, you can only take advantage of one switch offer at a time, while losing your only account with a couple years of history. But if you have more accounts, you can still keep the oldest one and switch others.
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