Banking question:Basic bank accounts...?

[OnegreatLink]

Apparently, having a basic bank account would harm your credit rating/score. So does it still do that if I have three basic bank accounts, two business bank accounts, and five current accounts? Thanks in advance.

 

[robindunne]

It all depends how you handle them, but I would also imagine having large overdraft facilities on each would hinder you ability to gain credit in the future.

 

[E Storey]

Isn't the point of basic bank accounts that you can't get an overdraft with them?

 

[OnegreatLink]

Isn't the point of basic bank accounts that you can't get an overdraft with them?

Yep, no overdraft facility, no cheque gurantee card and no cheque books with basic bank accounts. I've got current accounts etc it's just that I was looking into basic bank accounts for day-to-day use and apparently, having a basic bank account would harm your credit rating/score. Was wondering if that was true.

 

[OnegreatLink]

Isn't the point of basic bank accounts that you can't get an overdraft with them?

So, is that not a good or not?

 

[E Storey]

I honestly am not sure.

They are designed for people with poor credit histories, so they can at least have an account that their wages can go into etc without being able to get further into debt.

Usually they have these accounts because they have a bad credit rating, not the other way around.

You would have to speak to someone who knows more about personal credit than I do.

 

[wizzard]

Who told you having a basic bank account can harm your credit rating? I get fed up of posts that say "apparently" with no reference to back the claim up.