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Checking/Saving acc any influence?

Discussion in 'Credit Talk' started by Denny, Jul 11, 2003.

  1. Jul 11, 2003 #1
    Denny

    Denny Well-Known Member

    I am just wondering if having a checking or saving account affects credit ratings. In other words if I have an account is it the same as if I donâ??t have it. Does it come up on credit file at all? What is the reason that credit lenders often ask for it in the applications?

    Thanks,
    Denny
     
  3. Jul 11, 2003 #2
    GEORGE

    GEORGE Well-Known Member

    It does NOT show on any credit report...

    "IF" you have a checking AND/OR savings account...YOU ARE MORE STABLE...SO A BETTER CREDIT RISK...SO "THEY" SAY...
     
  4. Jul 11, 2003 #3
    NightStar

    NightStar Well-Known Member

    Well, the savings account may help establish means for getting approved, especially if you want to open an installment loan backed by a savings account.

    So even though it does not get reported, it is still a tool to be used for establishing reportable credit.
     

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