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Will changing my bank account affect my credit score?

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Ollie asked:


I have been with Natwest ever since I was 11, so that’s now 6 years. I am planning to change to Halifax when I am 18 though because they offer the best student account.

I have been told that changing banks affects your credit score, which is why they ask you when you are applying for a loan, mortgage etc for how long you’ve been with your current bank for.

Is there any truth behind this? Or should I just change?

Damn I like Candy

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4 Responses to “Will changing my bank account affect my credit score?”

  1. Gh0st . says:

    Great advice re credit score. Also get a free trial at Experian and look at your credit report ;)

  2. Bob C says:

    Credit Scores in the US have absolutely nothing to do with which company you do your banking with.

    However, when applying for a loan, a history makes you appear more stable. Typically, unless you are buying a commercial property, you don’t need more than a one-year history with a bank. So, if you’re not planning to buy a house in the next 12 months, changing won’t hurt you.

  3. debijs says:

    ~~No it will not in any way affect your credit score. The only reason they ask that question is to see how long you have been a customer. A bank never reports any information to a credit rep porting agency (unless of curse it’s a default of some sort and it goes to a collection account).~~

  4. GD says:

    It will not have any affect.

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