a couple of the accounts anymore, but does it look bad if accounts are opened and closed too quickly? Should I just keep all of them open for awhile, would that be better? Or does it not matter either way. Please help thanks so much
2006-10-11 03:58:56 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
Checking accounts have nothing to do with credit. Credit cards have to do with credit.
2006-10-11 04:00:55 · answer #1 · answered by MadforMAC 7 · 1⤊ 0⤋
Doesn't Matter Kate. What matters is why you opened the accounts to begin with. I opened an account just because Bank B has more ATMs closer to my home and I don't use checks - just cash, credit, or debit.
If you don't need some account, then maybe consider closing it. But don't let spreading your money into different accounts fool you into thinking there is more than if it were all in one account. Dave Ramsey has made a living out of helping people manage money and I recommend his book "The Total Money Makeover". Since I read it, I have looked at money differently. The book's focus is on someone heavy into debt, but there are many other lessons also.
www.daveramsey.com
Good Luck
2006-10-11 11:10:54 · answer #2 · answered by snvffy 7 · 0⤊ 1⤋
Just pick one and keep it currect with a balance... never overdraw... I've gotten my credit report before and I didn't see any info on it pertaining to how many checking and savings accounts I had... the only time you will see any activity from a checking or saving account on your credit report is... if you had some bank fees you didn't pay on a closed account and the bank reported them to the credit bureau... these would show up on your credit report... hope this helps....
2006-10-11 11:06:59 · answer #3 · answered by Sandy 6 · 1⤊ 0⤋
Well most banks charge for cheque acocunts so I suggest you close all but one before even thinking about credit rating. You will save yourself some money!
The accounts would only impact on your credit rating if you owed the banks money for the cheque accounts.
2006-10-11 11:07:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Checking accounts have nothing to do with credit. Credit cards have to do with credit.
2006-10-11 11:02:11 · answer #5 · answered by Luckys Charm 4 · 0⤊ 1⤋
^^^ What the hell is up with MadforMac and Luckys Charm? ^^^
Anyway, open accounts with small balances on them (less than 50% of the limit) look better on credit reports than closed accounts.
2006-10-11 11:07:03 · answer #6 · answered by Eric C 5 · 0⤊ 2⤋
Checking accounts have nothing to do with credit. Credit cards have to do with credit.
2006-10-11 11:10:52 · answer #7 · answered by Anonymous · 0⤊ 2⤋
NO
2006-10-11 11:06:50 · answer #8 · answered by ghreewala 4 · 0⤊ 0⤋