does having savings account increase a persons credit score.?

Answer 1

If your account is in good standing and you haven't written an over abundance of bad checks.

Answer 2

No. A savings account does not demonstrate the responsible use of credit, which is what is evaluated by a credit score. Paying back bank loans, mortgages, lines of credit and maintaining revolving credit is what determines a person's credit score.
There are 5 factors which determine your score: payment history, balances, age of credit, new credit, and a balance of different types of credit. Maintaining these types of accounts responsibly will result in a great credit score.

Answer 3

The disclosure of a savings account and the balance can increase your credit score, but I would hope the balance in your savings account is not a public record for credit companies to look at.

Answer 4

No, because a savings account is not credit or a loan of any kind. The only way to improve your credit score is to pay your credit cards and other debts on time and demonstrate fiscal responsibility with how you manage your finances.

Answer 5

Not really. It's a good idea, but the point of credit scores is to measure the likelihood that, if someone lends you money, that they'll see it back.

It would be better to get a small card, like from Orchard Bank (http://www.orchardbank.com), use it, and do a good job paying it back. That will positively affect your credit score.

Answer 6

No. Your credit score is based on your credit and is derived from your credit history.

Answer 7

Somewhat, depending on the amouint. This is a liquid asset.

Answer 8

nope not really try getting a 100$ limit walmart card easy to get if you have a job.

Answer 9

no