Question:
Does it improve your credit rating at all?
Are there advantages in terms of special loyalty offers?
Does it boost your credit rating to be banking with a better bank?
Answers:
NONE!
Actually it has no effect on your credit rating at all. The advantage might be that you develop a banking realtionship and can be offered a better credit card or a better line of credit with them since you are a long time customer. The services that the bank you have been with offers will be the only advantage that you have.
and you don't even get invited to the xmas party!!!!
None .... apart from it usually makes your life (banking life) easier!
No apart from they get to know you as well you do them and you may find them more willing to provide you with credit/loans/mortgages.
I don't think so, they all treat you like sh1t unless you've got loads of money there.
Only things I can think of is that I have managed to memorise my card number, account number and sort code so quoting these over the phone - setting stuff up etc is handy but that's about it. Anyone else hate the ABBEY (formerly Abbey National)?!!!
No there is no long term advantage apart from simplicity and ease of service. Loyal customers are at best treated equal to, if not worse than, those customers the company seeks to recruit.
Stability and maintaining regular payments on time improves credit rating, as well as paying off debts.
There are very few special loyalty offers from the banks.
Banks vary in the terms and conditions of service so sometimes perhaps your credit rating is slightly improved by the t&c of the bank you're with - especially if those t&c make the account more manageable for you and your financial circumstances.
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