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If i activate my old bank account will it affect my credit record in a bad way?

(5 Posts)
PrincessFlirtyPants Wed 28-Aug-13 20:50:16
PrincessFlirtyPants Wed 28-Aug-13 20:49:44

It will, but not by a significant amount.

Normally three missed payments = a default being registered which remains on your credit file for 6 years. Are these registering as a default or 3 missed payments? ( the company would have written to you to you that they were registering it as a default, if not contact the credit reference agency and they will tell you)

If they are just recorded as missed payments then when 12 months has passed and you have maintained payments your score will improve.

You can improve your score in a number of ways.

There's a link to a site that may help http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve smile

newlind Wed 28-Aug-13 20:42:04

Hi PrincessFlirtyPants,
Well, bad score is purely due to 3 missed payments in a row.
All other things are good.
The account isn't dormant. I still receive bank statements, they just went a very old address & i never knew about them.
I was just hoping that the longevity of the account might help a bit....even ever so slightly.

PrincessFlirtyPants Wed 28-Aug-13 20:15:43

As far as I'm aware banks no longer activate dormant account. It will marginally help your credit score but it would still show no ££ going through the acc for years.

Maybe you can improve your score in other ways, why do you have a bad score?

newlind Wed 28-Aug-13 20:13:10

So here's my dilemma....

My credit record isn't looking too good. I have some missed payments on it in the credit section.
My only bank current account on there was opened in August 2001 (12yrs ago).
I recently confirmed though that i also still have a bank current account with another large bank & i opened that in 1988 (25yrs ago).
The address on that account is registered to my parents address and it doesn't show on my credit file anywhere.
There's currently only £1 in that account.

I'm wondering whether if i get the bank to change the address to my current address so the account starts to show on my credit file and if i deposit £100 into it, will it help bump my credit score up a little by showing that i have a very long standing bank account?

Thanks in advance for any advice/comments.

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