2006-12-29 07:02:38 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
it should but it dosnt. Still saving is better than charging
2006-12-29 07:11:02 · answer #1 · answered by tennessee 7 · 2⤊ 0⤋
the fact is that nobody will lend you any kind of large ammount unless they can see that you have a record of paying back previous debts on time. just get a credit card, buy your weekly shopping with it then transfer from your bank to the card account the money you spent when you get home. This will take advantage of the 0% interest on purchases most cards give you if you pay back before your statement arrives. You may also want to use your overdraft and pay it back at the end of the month/week. even if you just take the money out and keep hold of it in a box for a few days before returning it to the bank account. anything that shows the bank that you have money coming in and don't mind using it to pay off your bills. paying monthly on your car insurance could help too as this goes on your record.
2016-03-28 23:57:46 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No to open credit accounts I have never been asked to declare my savings, just earnings and personal details. What helps your credit rating is actually if you have a credit card or two and have paid them all off regularly without being late. It shows them that you can manage your money. I used to think having a credit card extra would damage your rating until a financial boffin told me otherwise!
2006-12-29 07:07:33 · answer #3 · answered by JoJi 4 · 0⤊ 0⤋
Not really, you can't default on a savings account. Get a credit card, never use it and pay couple of pounds a month towards it. Your rating will soar ;)
2006-12-29 07:06:49 · answer #4 · answered by naplusultra 4 · 0⤊ 0⤋
It will not affect your credit score but from a lending perspective it will definitely help document liquid assets...an important part of the qualifying process.
Here is some additional info. Hope this helps.
2006-12-29 07:06:34 · answer #5 · answered by loanman46 2 · 0⤊ 0⤋
Staying in the black & keeping a clear credit card account are what helps your score.
2006-12-29 07:36:38 · answer #6 · answered by Anonymous · 0⤊ 0⤋
not on your credit file,because savings accounts don't show but it helps with your bank relationship
2006-12-29 07:05:10 · answer #7 · answered by NATALIE W 3 · 1⤊ 0⤋
no, but if you apply for a loan, the company will ask how you will pay for it( referring to your savings) if you do not take out the rip off insurance!
2006-12-29 07:29:47 · answer #8 · answered by Rebz 5 · 0⤊ 0⤋
Only if the balances have been large over time and are large now.
2006-12-29 07:04:32 · answer #9 · answered by Anonymous · 0⤊ 1⤋
no it does not......because it is not a revolving debt.....
2006-12-29 07:15:11 · answer #10 · answered by smiley20903 2 · 0⤊ 0⤋