Credit rating questions

[hellfreeze]

I was wondering if the following has any effect on ur credit rating, and if so, which is better?

A: Have one savings account of $900 at one bank

B: Have a savings account with $300 at 3 different banks

Also, if these don't have any effect on your credit, is it worth doing just to establish relationships with banks?

Sorry if these are dumb questions...

 

[kt]

I don't think opening up a saving account will have any affect on your credit rating. If I were you, just open up one saving account with the bank that gives you the highest interest rate. Banks don't care about you, they care about your money. The more money you have sitting in your account the nicer they are too you.

 

[conjur]

Checking/savings accounts have no affect on your credit. Well, a checking account *will* have a bad affect if you are overdrawn and never correct it and let it go to collections/writeoff.

Also, not all Credit Union loans are reported to the credit reporting agencies.

 

[pyonir]

savings and checking do not show up on your report. Unless you are delinquent.

 

[hellfreeze]

thanks

i'm asking cuz instead of having my money sitting in my checking account at Bank of America, i transfered both my CD and most of my checking money to ING with a 2% interest. But I also opened up a savings account at Washington Mutual as a "deposit credit card funds here" type of thing. I did it mainly since it helps me stay more organized (and not spend more money than i should), and was wondering if there's any advantage

thanks again for the help guys

 

[Mr N8]

Delinquent checking accounts are reported to Chex Systems. When you open a checking, they will look you up by SS number, and if it shows up, it is very unlikely that you will get an account.

No affect on your credit rating, though.