Is it bad to open to many checking accounts?

Question

i have washington mutual and US Bank. but i recently applied for a another checking account for citibank. because i use each different checking account for my 2 Jobs and such..cuz i dont want to have two checking accounts at one bank cuz it confuses me. And after apply for citi it said :""proccesing application subject to application approval"" so im guessing im waiting to be approved and thats never happened to me and i heard from a friend its bad to have too many accounts that it messes up credit or something? anyone know???

Answer 1

Checking accounts do not report on your credit file, nor do savings accounts. The only adverse affect would be the credit inquiry, which is a "hard" inquiry, and does have a small effect on your credit score.
Maintaining 3 or more checking accounts has no effect on your credit report or your credit score.
Too many loans or revolving accounts which report that there is too much money owed would affect your score.

Answer 2

RE: a thank you to open a checking account with spotty credit? My relative says the financial company won't supply him a checking account because of the fact of spotty credit. He opened a cellular telephone account, yet didn't pay on it, and this confirmed up on a credit verify. Now the potential landlord won't lease an house to him. How can he come across a financial company which will supply him a checking...

Answer 3

As long as you don't overdraw your accounts and keep them in good standing there shouldn't be a problem with you opening multiple checking accounts. My bank, U.S. bank actually recommends that customers have separate checking accounts for personal use, business use, and i even opened a separate account for use with internet purchases. So in my opinion the answer is no, you can't have too many checking accounts if you're using them all for good reasons and you keep them in good standing. Good luck!

Answer 4

when a bank pulls your credit for a checking account it is not a "hard inquiry" and is only seen by you on your credit report and will not affect your credit score.

Answer 5

i don't think it messes up your credit. I just got too confused