If someone opens a regular checking/savings account does that affect credit?
2006-12-01 02:05:53 · 2 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Opening a checking and savings account can have an impact on your credit. Not in the fact that it will be reported to the credit bureau, but when you fill out a credit application and indicate that you do have these accounts.
Lenders typically have a favorable outlook for consumers that have these accounts. It shows responsibility and accountability.
Also many lenders in today's market will not give you a loan if you do not have at least one of these.
2006-12-01 02:12:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It will not affect your credit score, however it will be looked at in most loan applications. If you have an account you can usually get a slight rate reduction having payments automatically withdrawn from your account.
2006-12-01 04:56:05 · answer #2 · answered by VATreasures 6 · 0⤊ 0⤋