Current accounts

[whatwhat]

Does anyone know how many current accounts you are aloud to open?? Is there a limit?

[humpy07]

not as far as i'm aware, but each time you open one you have a credit check against your name - the more you open, the less likely you are to get accepted.

[Count-A-Strong]

Allowed.

[whatwhat]

I see, thanks for that!, yes I had noticed the spelling error after submiting the question, but thank you for pointing out count a strong

[whatwhat]

If I close an account as well as opening one, would that go in my favour with the credit raters..

[sara3]

what are you trying to achieve?

[factor-fiction]

I'm not sure it makes much difference provided you only have small overdraft limits. But you may find that even if you close the account it stays on your record as the bank may still keep it partly live just in case any pending payments go through.
What's your motive- are you opening as many as possible of these accounts that offer maybe £50 if you open one?

[whatwhat]

Iv been looking on love money and have found crrent accounts that pay 5%!! trying to utilise my measly savings..

[factor-fiction]

Well you only need to open one account paying 5% so unless you've already got a lot of (five or six) other accounts then I don't see a problem.

[sara3]

I can look after your savings for you :o)

[hc4361]

factor30 - 5% is blerdy good interest in the current climate and many current accounts restrict this great interest rate (far higher than ISA or savings) to £1k or £2k so the more you can have, the better.