High Interest Investment

Does having multiple savings accounts hurt your credit score ?

I was looking to open multiple online savings accounts ? Does it in anyway affect my credit score ?

Public Comments

1. no
2. it shouldn't...checking accounts maybe but savings account, nah. call your bank(s) just to make sure, but should be fine
3. No. I doubt your bank accounts affect your credit score. Your score is based on your ability to pay debts, such as credit cards, bills, etc.
4. Why online? You do know that your identity and other information can be stolen? I have multiple savings accounts in the form of IRA's, CD's, Money Market, etc. but they are ALL with banks that I can walk into and talk with someone IN PERSON. My FICO (credit score) is 860; all debts have been paid off for a few years, and I don't charge more on my credit card than I can pay off at the end of the month. Being a bad credit risk, not paying on time, or over charging is what ruins your credit score.
5. No, only if you screw up and have overdrafts on multiple accounts.
6. ~~No savings accounts have no bearing on your credit report.~~
7. No. Savings accounts are not used in calculating your credit score. Use these links for more information.
8. No. savings and checking accounts do not influence your score. Multiple credit cards will slightly. the worst thing is that every time someone inquires into your credit, for example, the credit card company if you sent them an application, it adversely affects your score. have as savings as you can. we all need to learn to save more!!