Bank Shops & Credit
Warning: For Full Access Please Log In or Create an Account (Free)
Deposit accounts, such as checking and savings, don't affect your credit. Only credit accounts (loans, lines of credit, etc.) do.
Edited 1 time(s). Last edit at 06/25/2018 01:48AM by HonnyBrown.
"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton
Edited 1 time(s). Last edit at 06/25/2018 01:48AM by HonnyBrown.
Checking accounts do not affect your credit (FICO score) unless you get a negative balance and the bank closes the account. They DO show up on your ChexSystems which may or may not be an issue. Some banks are more sensitive than others but GENERALLY the issue you might have by opening too many accounts in a short period of time would be being declined for a new account in the future.
I can say it's not likely to ever be a problem. I've opened about 5 accounts in the past 9 months for bonuses and JUST (as in 10 minutes ago) opened another at a bank that is VERY ChexSystems sensitive and had no problems opening the account.
I can say it's not likely to ever be a problem. I've opened about 5 accounts in the past 9 months for bonuses and JUST (as in 10 minutes ago) opened another at a bank that is VERY ChexSystems sensitive and had no problems opening the account.
There are reasons that a body stays in motion
At the moment only demons come to mind
At the moment only demons come to mind
@HonnyBrown wrote:
Deposit accounts, such as checking and savings, don't affect your redit. Only credit accounts (loans, lines of credit, etc.) do.
The banks vary. Some have been reported to perform hard check which will show and affect your credit, though the effect of hard checks specifically related to your credit are temporarily and minimal in the long term.
See below for a comprehensive collection of information on which banks give hard or soft checks for opening accounts at their institution.
[www.doctorofcredit.com]
Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!
Edited 1 time(s). Last edit at 06/25/2018 01:07AM by Tarantado.
That is absolutely true as far as inquiries go. To me inquiries are so insignificant I don't really worry about them.
There are reasons that a body stays in motion
At the moment only demons come to mind
At the moment only demons come to mind
I actually misunderstood the question, I thought the OP was asking how having multiple checking accounts might affect it, as opposed to just the opening of them.
There are reasons that a body stays in motion
At the moment only demons come to mind
At the moment only demons come to mind
That's what I thought as well.
"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton
Sorry, only registered users may post in this forum.