Doe it affect your credit rating if you do not have a checking account?

Question

I have a checking account and savings account, and have really been thinking about closing the checking. The overdraft fees can really kill ya! I have all of my big bills drafted from the savings anyway. I would just have to pay cash for food, gas, and daycare.

Answer 1

I have been told that yes to keep it open. It will show stability and if you watch what you write then you would not have any overdraft fees. Worse case is to find a free and use that one. Free I mean the kind that will not charge you if you have an autodeposit for that bank.

Answer 2

chop up that little plastic very own loan shark, and close the account. on no account purchase on credit. Then, so what if your credit drops some factors while you're no longer paying for on credit? Why hardship approximately some thing you do no longer use? Use debit enjoying cards. forget approximately the $six hundred month automobile money - get what automobile you are able to with money. in case you quite could borrow for a house, get not greater abode than you will pay a minimum of 20% down, and not greater desirable than 25% of your take abode pay in money for a optimal of 15 years.

Answer 3

Technically it does not effect your credit score. But it makes a lender form an opinion which may not help you. If you are on the fence of getting approved or turned down for a loan the fact you have a checking account in good standing may make the difference.

Answer 4

No, not having a checking account will not affect your credit rating but it will affect your chances of getting credit though compaines. Many look to see if you have a check and/or a savings account. I would keep one open and keep something in there even if you don't use it.

Answer 5

Checking accounts do not affect your credit rattings at all.

Answer 6

None whatsoever.