Opening a new account can affect your credit score, but not always. Here's which accounts leave a mark, why it happens and how to space things out.

Key takeaways

• Savings accounts and ISAs don't usually involve a credit search, so opening them typically won't affect your credit score.

• Applying for credit, such as a credit card, loan or phone contract, usually involves a hard search that can lower your score slightly.

• Several hard searches close together can have a bigger effect, because lenders may read it as a sign you're relying on borrowing.

• If most of your credit accounts are new, your score could be lower until those accounts have built up some history.

• New-to-credit ClearScore users who gained one payment account saw scores rise by an average of +67 points over 12 months. The relationship is correlational, not causal.

• Spacing out applications and checking your eligibility with a soft search first can help you avoid unnecessary hard searches.

Does opening a new account affect your credit score?

It depends on the type of account. Accounts that involve a credit check when you apply, like credit cards, loans, car finance and some current accounts, can affect your credit score. Savings accounts and ISAs usually don't.

When you apply for credit, the lender normally runs a hard search, a full check of your credit report (sometimes called your credit file) that stays visible to other lenders. One hard search usually has a small, temporary effect. The bigger risk comes when several land close together, or when lots of new accounts open at once. That's when opening new accounts could start costing you points.

A soft search is different. It's a lighter check, used by eligibility tools or when you look at your own report. Only you can see it, and it doesn't affect your score.

Which new accounts can affect your credit score?

Credit products are the ones to watch. Anything you apply for that lends you money, or lets you pay later, normally involves a credit check. Savings products usually don't. Current accounts sit in between: banks usually run a credit check when you apply, but whether it's a hard or soft search depends on the provider.

Checks vary between providers and can change, so look at what kind of search is used before you apply.

A current account with an overdraft is a form of borrowing, so it's listed on your credit report alongside credit cards and loans. We cover both in more detail in our guides to overdrafts and credit and phone contract checks.

Why can opening lots of accounts cost you points?

Two things tend to drive it: the hard searches from your applications, and the effect of new accounts on your credit history. Lenders also look at the overall pattern on your report, not only the number.

Several hard searches close together

An application for credit usually leaves a hard search on your report, if the provider uses one. One on its own isn't usually a big concern. Several in quick succession could lower your score and your chances of being accepted, because it can suggest to lenders that you're relying on borrowing. If you have a limited credit history, each search can carry more weight, as there's less positive history to balance it out.

The same applies whatever you're applying for, whether that's credit card applications or loan applications. Hard searches don't stay visible forever, and our guide explains how long hard searches stay on your report.

Your accounts are newer overall

Credit scoring tends to look favourably on a longer, well-managed credit history. If most of your credit accounts are new, that could lower your score. It helps to think of the average age of your accounts: a couple of accounts you've had for years, plus several opened this month, pulls that average right down. Brand-new accounts also have little payment history behind them yet. See what else affects your score.

Lenders read the pattern, not only the score

Lenders look at your full credit report when you apply, not just your score. A cluster of new accounts and searches could affect their decision even if your score has barely moved. Whether you're accepted is always subject to individual circumstances and lender criteria.

Is opening a new account ever good for your credit score?

It can be, particularly if you're new to credit. With no accounts on your file, lenders have very little to go on, so adding one account that you manage well, such as a phone contract, a utility bill or a credit card in your name, could help build your history over time.

ClearScore data shows new-to-credit users who gained one payment account saw scores rise by an average of +67 points over 12 months, while those who stayed at 0 payment accounts saw scores drift down by an average of −7 points.

Source: internal ClearScore data, ~150,000 new-to-credit users starting with 0 payment accounts. Payment accounts include phone contracts, utilities, credit cards, loans, hire purchase, mail order, insurance, and mortgages. The relationship is noted as correlational, not causal, and individual results will vary.

This data covers people starting with no payment accounts at all. It shows what's associated with adding one account, not what happens when someone with an established history opens several more. How opening accounts affects a score depends on individual circumstances and how the accounts are managed.

If you're starting out, our guides to having no credit history and building credit from scratch explain your options. Always make sure you can afford repayments.

Does switching bank accounts affect your credit score?

Switching itself usually isn't the issue. Moving to a new bank still means applying for a new account, and what matters is whether that provider runs a hard search when you apply. Some do, particularly if you ask for an overdraft.

The Current Account Switch Service moves your payments across for you and takes seven working days. It handles the move, not the credit check, so the new provider's application process still applies. If you're opening accounts for switching incentives, several switches in a short period with providers that run hard searches could add up. Check what kind of search each provider uses, and consider spacing your switches out.

Should you worry if your score has dipped?

Not usually. A dip after opening new accounts tends to be small, and it reflects recent activity rather than anything about you as a person.

At ClearScore, we don't see a lower score as a judgement. Your score is a snapshot of where you are right now, and it can change. As new accounts settle in and you build a record of on-time payments, any short-term effect tends to fade. If you're not sure why your score has dropped, our guide covers the most common reasons.

How can you open new accounts without losing points?

Timing of credit applications. Several applications for credit cards, loans or finance in a short time can each leave a hard search, if the provider uses one, which may affect how lenders assess you.

Check which kind of search is used. Look at the application details or ask the provider whether it runs a soft or hard search before you apply.

Check your eligibility first. Eligibility tools use a soft search to show how likely you are to be accepted, without affecting your score.

Don't reapply straight after a decline. Applying again elsewhere can add another hard search if that provider uses one, so it's worth checking the type of search first. Find out what to do if you've been turned down first.

Remember savings accounts are different. Savings accounts and ISAs don't usually involve a credit search, so they typically won't affect your score.

Automatic payments. Where an account has repayments due and the provider offers it, a direct debit may help you avoid missing one, as long as there's enough money in your bank account. More accounts means more due dates, and even one late payment can affect your score.

Check your credit report afterwards. Make sure every new account appears correctly and that you recognise every search. A hard search you don't recognise could be a sign of fraud, so contact the company that ran it. Our 5-minute checklist shows what to look for.

Track your credit score for free with ClearScore

With ClearScore, you can check your Equifax credit score and report for free, forever. They're updated every week, so it's easy to keep an eye on things while new accounts settle in. Equifax is one of three credit reference agencies that hold credit information and produce scores using their own models. Lenders use their own criteria and may calculate their own scores, so their view can differ from the score you see.

Your report shows new accounts as they appear, and the searches section lists the hard and soft searches on your file. That makes it simple to see how many applications you've made recently and spot anything you don't recognise. Checking your own score is a soft search, so it never affects your score.

When you're ready to apply, you can browse credit card and loan offers on ClearScore first. Lenders use a soft search to show how likely you are to be accepted, which can help you avoid hard searches on applications you're less likely to be accepted for. Acceptance isn't guaranteed and is always subject to the lender's own checks. Always make sure you can afford repayments.

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18+, registration required, T&Cs apply. ClearScore is a credit broker, not a lender.

FAQs

Does opening a savings account affect your credit score?

Usually not. Savings accounts, including cash ISAs and Lifetime ISAs, don't lend you money, so providers don't normally run a credit search when you open one. They may check your identity, but that isn't the kind of check that affects your score. You can generally open savings accounts without it costing you points.

Does opening a current account affect your credit score?

It can. When you apply for a current account, a credit check is usual, and some banks use a hard search while others use a soft one. A hard search is more likely if the account comes with an overdraft, because that's a form of borrowing. Check the application details before you apply, especially if you're opening several accounts close together.

Does opening a joint account affect your credit score?

Opening a joint account links your credit file to the other person's through what's called a financial association. Lenders may then look at their credit history when you apply for credit. You can see any financial connections in your ClearScore report. If you close the joint account later, you can ask the credit reference agencies (CRAs) for a notice of disassociation to remove the link.

Does buy now pay later count as a new account?

It can. Since 15 July 2026, most new buy now pay later agreements from third-party lenders have been regulated by the Financial Conduct Authority (FCA), and those lenders must carry out checks to make sure you can afford repayments. Agreements taken out before that date, and deferred payment offered directly by the business selling the goods or services, aren't covered by the new rules. Each agreement is a form of credit, so it's worth treating it like any other application. Find out how BNPL works.

How long does opening a new account affect your credit score?

The effect of a single hard search is usually temporary. It tends to fade as the search gets older and as you build up a record of paying your new account on time. Opening lots of accounts at once can mean the effect lasts a little longer, because there are more recent searches and more new accounts on your file.

How many credit cards should you have?

There's no right number for everyone. Managing the cards you already have, paying on time and keeping your balances under control matters more than the total. If you're thinking about adding another, read our guide on how many cards to have. Always make sure you can afford repayments.

Does checking your own credit score affect it?

No. Checking your own credit score or report uses a soft search, which only you can see and which doesn't affect your score. Our guide to checking your score explains why.

Important information

This article provides general information only and does not constitute financial advice. It is not a substitute for advice from a lawyer, financial adviser or other appropriate professional. Individual circumstances vary, and you may wish to seek independent advice before making financial decisions. Information is accurate at the time of writing and may change.