UK no credit check bank account review

All of us can fall on hard times and some of us can end up with a bad credit history because of those difficult circumstances. If you have a bad credit history you probably have a bad credit score and this can negatively impact your life. A bad credit score can make it difficult to purchase a home or a car. It can even impact your ability to find a good job or open a bank account. You may be wondering how a credit score can affect so much.

A credit score is a number that lets lenders know if you are going to be a risky borrower. If you make your credit payments on time each month your credit score is probably in the high range. If you miss payments, fail to make payments, are bankrupt or in default, you probably have a poor credit score and this can drastically impact your financial future. For some people, having a bad credit history even prevents them from being able to open a simple bank account. That is why knowing your credit score is important. You can find out your credit score by contacting any of the credit reporting agencies located here in the UK.  For a minimal fee, you can usually access your credit information through these agencies, online. Knowing your credit history is necessary in order to make changes that will positively impact your bad credit history.

With a bad credit history you may be find it difficult to open certain types of current accounts to pay bills or make purchases. Banks will run credit checks when you apply for a current account and if your credit score is low, in most cases, you will be denied the opportunity to an account with lots of options. If a credit check reveals your bad credit history or low credit score you may be able to open a basic current account, however.  When shopping for a bank it is pertinent to know if they open accounts for people with a bad credit history and it may surprise you to know that many do. Many banks such Barclays, Lloyds, HSBC, NatWest, Abbey and RBS offer basic current accounts to people with no credit or with a bad credit history. If you have a low credit score, it is important to check each bank and go over their terms and conditions.  Even if you are bankrupt, you will probably be able to open a simple current account with a bank like Barclays or Lloyds.

In the end, it doesn't matter how you ended up with a bad credit history, whether through a bankruptcy, insolvency, CCJ, or default. What matters is being able to find a bank that will allow you to open a current account despite your bad credit history so that you can pay your bills on time and work towards a better credit score.  

Think twice before setting up a bank account with a bank that has had a bail out, the management might be stupid idiots.