2006-07-27 21:41:02 · 11 answers · asked by pearce.karen 1 in Business & Finance ➔ Credit
It doesn't impact your credit score unless you have a credit card through your bank. Checking and/or savings accounts are not considered.
2006-07-28 02:48:50 · answer #1 · answered by Crazy girl 2 · 1⤊ 0⤋
Absolutely; older borrowers are considered more reliable, especially if they have a credit history. The longer credit history you have free of delinquency/default, the stronger a credit you are. Maturity is also important, which comes with age and demonstration that you are responsible in repaying your debts per the repayment schedules.
Most banks having consumer loan or credit card businesses use "scoring" or a template to determine credit worthiness. Age and length of relationship are criteria in these templates.
One demonstration of this is with credit cards. If you've had one for a few years, you will often be given an increase in limit even if not requested, as long as you have an unblemished repayment record. This is true even though the issuer has not enquired about your job/salary.
This does not include mass-mailings or marketing efforts where banks do silly things to rapidly expand their customer base. This is purely a statistical exercise.
2006-07-27 22:37:45 · answer #2 · answered by hellbent 4 · 0⤊ 0⤋
It has nothing to do with your FICO score but it does hold weight if you're applying for a loan through the bank in question. A bank will normally treat their long time customers with a little more TLC then someone who just opened their account, unless of course that person just put in six figures or more...Sometimes that added attention to your situation will be the deciding factor in whether or not you're approved for that $25,000 car loan.
2006-07-27 21:49:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, yes, yes. check out the articles on credit scores at
http://www.debtsmart.com/cgi-pl/article.cgi?cmd=category&cat=Credit%20Reports&page=1
Jack
2006-07-28 01:38:06 · answer #4 · answered by jackvanz 1 · 0⤊ 0⤋
no, only if ur account has been closed or written off for overdrafts would it affect ur credit rating.
2006-07-28 02:47:42 · answer #5 · answered by koifishlady 4 · 0⤊ 0⤋
if you are in the uk then no, it depends more on wether you have made all your payments on time to card companies etc and never defaulted on any items
2006-07-27 21:48:59 · answer #6 · answered by DunnoY 1 · 0⤊ 0⤋
In a word, yes.
2006-07-27 21:44:10 · answer #7 · answered by Pookie 4 · 0⤊ 0⤋
Nope.
2006-07-28 07:44:14 · answer #8 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
woolwich desn't I think they are simply rubbish
2006-07-27 22:10:06 · answer #9 · answered by Star 2 · 0⤊ 0⤋
Sorry but it doesn't.
2006-07-27 21:47:57 · answer #10 · answered by Jon H 5 · 0⤊ 0⤋