Leaving a (graduate) bank account for another (undergraduate)

Hi, in 2017 I went to uni and opened an undergraduate bank account which as of 2021 is now a graduate account, and since leaving university I just don't use. In September I will be undertaking a second degree and want to leave that bank account for another (undergraduate) bank account. Is this possible? Will my credit score take a hit? I mean, it's a graduate account and I'm going to become an undergraduate again...?

I suspect you'll need to open the new account with a different banking group to the one your graduate account is with, as your current bank will know about that account (i.e. that's it's a graduate account). It might or might not make a difference.

Other banks will be able to see that you have a current account with an overdraft facility, and your credit record will show them what the limit is and what use (if any) you're making of the facility. It's unlikely that they'll be able to tell that it's a graduate account though.

When it comes to considering whether to offer you an overdraft on a new student account, they'll be looking at our credit history via one or more of the Credit Reference Agencies; and if you have an existing overdraft facility (whether or not you're using it), that might affect their decision as to whether to offer you, and if they do, what limit they'll give you.

If you want to see what your credit record looks like, request a copy of your Statutory Credit Report from each of the three main CRAs (Equifax, Experian, TransUnion). There's no charge for this.