Does having a checking account really improve credit?

[duragezic]

My mom has mentioned to me a couple times that I should get one because it does. Maybe it does? But it didn't really think it mattered much. I'm only 17, no credit history yet. I'll get a credit card when I turn 18 and when I use it I'll always pay off the bill in full, which I know isn't the way to really raise credit, but I think it helps some, and my parents have always paid off in full and tell me to and it's a good idea.

I'm not sure if I should even worry about credit at this age. I don't know when it'd first come in to play, because I don't see myself getting any loans soon, and my parents would cosign for any within the next few years anyway.

 

[notfred]

No, what idiot told you that?

 

[hollowman]

why do you need a credit card anyway?

 

[Pastore]

Having a checking account in itself does not help credit. BUT, it is generally accepted that to build credit, you must pay your debts on time, and most will agree that using a checking account is the easiest way to manage your money/pay debts/keep track of debts.

 

[budice]

Originally posted by: Beast1284
Having a checking account in itself does not help credit. BUT, it is generally accepted that to build credit, you must pay your debts on time, and most will agree that using a checking account is the easiest way to manage your money/pay debts/keep track of debts.

Sounds good beast.

 

[RossMAN]

Having a checking AND savings accounts won't help your credit but they are good to have when you apply for a credit card.

Esp if the credit card you're applying for is offered by your bank which also holds your checking and savings accounts.

 

[iamme]

Originally posted by: notfred
No, what idiot told you that?

oooooo.....he just called yo mamma an idiot......

 

[Dragnov]

Originally posted by: iamme

Originally posted by: notfred
No, what idiot told you that?

oooooo.....he just called yo mamma an idiot......

lol

Is there anyway to make a guesstimate on how good your credit is? I have a Visa Platinum Check Card, been paying off rent and utiity bills for about 2 years now, and I have a $3,000 limit on my one credit card. I'm 20 years old, how good/bad is that?

 

[bozo1]

Is there anyway to make a guesstimate on how good your credit is?

Go to eloan.com and click the thing on the right that says "Free Credit Scores & Reports". In there, you can get your credit score along with information on what the number means. They won't actually show you your reports unless you sign up for their credit monitoring service junk but they will show you your score for free. (I think once a year or something.)

And by the way, your 'check card' doesn't do anything for your credit as it is considered a debit card, not a credit card.

 

[RossMAN]

Originally posted by: Gr1mL0cK

Originally posted by: iamme

Originally posted by: notfred
No, what idiot told you that?

oooooo.....he just called yo mamma an idiot......

lol

Is there anyway to make a guesstimate on how good your credit is? I have a Visa Platinum Check Card, been paying off rent and utiity bills for about 2 years now, and I have a $3,000 limit on my one credit card. I'm 20 years old, how good/bad is that?

I have something even better. Order EquiFax.com's Score Power for $12.95 which shows you both your credit report (see if you have any late payments, do some accounts belong to you, how long you've had credit, if you've paid on time, etc.) AND your credit score. EquiFax is one of the 3 major credit bureau's.

 

[Pastore]

I have something even better.

lol, of course you do

 

[pillage2001]

Originally posted by: notfred
No, what idiot told you that?

His mom.

 

[roncarter]

Originally posted by: notfred
No, what idiot told you that?

his mom.. hahha. shes the idiot