Nat West Application affected Credit Score

[marshmallows]

Hi

 

 

I have been trying to build my credit rating back up and I have been succeeding. It had even moved back up to the "good" rating on Experian.

 

 

Anyway I am now in a position where I could open a savings account and actually put money away.

 

 

I decided to open an instant access savings account with Nat West, so no overdraft, not a current account but to my surprise they did a credit search that has left a footnote on my credit score and knocked my score back down to "fair"

 

 

So it seems that by wanting to be a customer and hand money over to them I have now paid the price by my credit report being damaged.

 

 

Is this usual for opening a savings account?

[dx100uk]

yes but its not there for long either.

 

 

also depends upon any other searches/credit you might have appliedfor

 

 

dx

[marshmallows]

Last credit I applied for was 8 year ago.

 

 

I just find it bizarre that they can do a "credit application search" when you are not applying for credit or anything that has the facility for credit.

 

 

I called them and the bloke said they didn't do them for savings accounts put me on hold for about 20 minutes and came back and said they did.

 

 

I wanted to look at switching mortgages as well

[fkofilee]

No its not a credit search... Its an ID search for a savings account