I need a checking account or saving account, but I have no credit...HELP?

Answer 1

You don't need credit to have a checking account or savings account, you just cannot owe any bank any money. You go into the bank and say "Hi, I'd like to open an account, I have 100$ to place in the account, can we get started on the paperwork?"

Answer 2

You seem to have the wrong idea of what the function of checking and savings accounts are.
This is where you put your actual money, so you can have it available to pay the bills you create and save for your future needs.
You do not need credit to open them. Most banks will require a minimum deposit and you can't take out more than you have. Having a healthy bank account will help you when you apply for credit.

Answer 3

You don't need credit to start a checking and savings account. Shop around and look for a bank that will best suit your needs and has the best interest rates, least additional fees and the best overall value. If you don't understand something, ask them. Go in and tell them that you need to talk to someone about opening an account. Then, inform them that you are clueless and you would like to see if they would sit down with you and give you some basic pointers on saving and budgeting money. If they are not willing to do that for you, go to a different bank. You don't want to give them your business anyway.

Answer 4

If you have a job or even an allowance from your parents, you can use the money to open either a savings account, checking account, or both. If you open a checking account, be careful that you don't write more checks than you have money to cover them. Being overdrawn costs lots of bad check fees and will start you off with a bad credit history.

Answer 5

You are putting the cart before the horse. First you get money to put into a checking and savings account, then after a while, you can get credit. The easiest types of credit to get are at department stores. Then make sure you don't charge more than you can pay each month. This will take discipline. After a few more months, you might be able to get a bank credit card, like Visa or Mastercharge. Don't spend the rest of your life digging yourself out of debt. The interest charges alone will make and sale you find not worth it. Unless you pay all your charges at the end of the month. You will sleep better at night too.

Answer 6

You don't need to have credit to have a checking account or savings. All you need is to have the money to place it in the bank.

But if you are looking for a credit card read the fine print and always ask others that have credit cards...

Answer 7

You don't need credit to open checking or saving account, just paycheck or cash. Your best bet is credit unions since they have lower minimums than banks to keep an account. My credit union requires for me to have at least $5 in my saving account. If you get steady income, then you can get free checks or over draft protection. I have taken small loans from my credit union to get my credit score up.

Answer 8

I didnt think you need credit for a checking/savings account!? I got both when I was 16... I certainly didn't have any credit then!
but if you do need credit, ask you're parents to sign for you.

Answer 9

You don't need credit to open an account, just cash.

Some banks require a minimum deposit.

Answer 10

in the previous days, while human beings used paper-based monetary documents to circulate money, the checking account served because of the fact the device for disbursing money. you could desire to draw on it by writing a verify. returned then, those money owed did no longer pay activity. A discounts account had no such checklist. you could desire to no longer write exams against a discounts account. discounts money owed paid activity. at present, digital fund circulate and on-line invoice pay make the edition between checking and discounts a passe concept. you will nevertheless see diverse expenses of activity and incentives, although. Banks are very slow to alter, and supply diverse expenses of activity for various money owed. The 5-circulate decrease is from a regulation created to combat corruption and money laundering. Drug lords could shuffle money between money owed electronically many many cases, as a variety of laundering it (or breaking the audit path). Why did you create a discounts account? Why did no longer you create only a single account?