i want to apply for a credit card,but they are asking if i have a checking account,i don't, just a saving account ina credit union. will this matter? i pay online with a draft or money order
People with checking accounts are better credit risks...SO THE CREDIT CARD COMPANIES THINK... Just like people who have POOR CREDIT have like 2 tickets, 3 accidents, and 2 claims... When you get pulled over for speeding...the first thing the officer asks is "WHAT IS YOUR F.I.C.O." If it is 650 or better, you were NOT speeding (HE JUST WANTED TO ASK WHAT TIME IT WAS)...if it was 522 you were not only speeding 75 in a 25...but you hit his car because you put it in reverse instead of park...
I've had a checking account forever, but I've never noticed that they ever check that piece of info. Same as they won't verify your income unless you're asking for credit lines of $20K+ Bottom line.. it doesn't matter as far as I know.
CHECKING ONLY=5 POINTS SAVINGS ONLY=10 PONTS BOTH=20 POINTS http://www.ftc.gov/bcp/creditscoring/present/sld008.htm BUT THIS IS FROM THE SAME PEOPLE WHO THINK ONE INQUIRY IS BETTER THAN ZERO!!!!!!!!!
I agree, it does matter whether you have a checking and savings account. It's subtle, but it does matter. Suggest you open a checking account, if only to transfer some of your savings account money to it. You won't necessarily make any interest on it - just transfer the minimum to open a checking account.
quote: -------------------------------------------------------------------------------- Originally posted by texasgirl i want to apply for a credit card,but they are asking if i have a checking account,i don't, just a saving account ina credit union. will this matter? i pay online with a draft or money order -------------------------------------------------------------------------------- People with checking accounts are better credit risks...SO THE CREDIT CARD COMPANIES THINK... Just like people who have POOR CREDIT have like 2 tickets, 3 accidents, and 2 claims... When you get pulled over for speeding...the first thing the officer asks is "WHAT IS YOUR F.I.C.O." If it is 650 or better, you were NOT speeding (HE JUST WANTED TO ASK WHAT TIME IT WAS)...if it was 522 you were not only speeding 75 in a 25...but you hit his car because you put it in reverse instead of park... GEORGE~~A.K.A. RODNEY DANGERFIELD ===================== A goody for you GEORGE. The END ************************* LB 59
Re: Re: checking account? SAVINGS ONLY=10 PONTS ------------------------------------------------------ This is the proper money managment penality. The END ************************* LB 59
Re: Re: checking account? Im alittle confused. What score does a c reditor get? since fico doesnt know if you have a checking or savings account. does your score increase?
Re: Re: Re: checking account? *No but a lender will hold it against you if you don't have checking or savings: Like I said it's their proper money management penalty! The END ************************* LB 59
