Video: Does Having a Good Checking Account Raise Your Credit Score?
A good checking account is a good thing to have. It shows accountability and responsibility. But can it raise your credit score?
While it’s a good thing to have a good checking account, it can’t be counted on to raise your credit score. On the other hand, if you mismanage your checking account and pay bills late, or refuse to pay them altogether, your creditors may pass this information on to the credit reporting agencies. And this can end up lowering your credit score.
Here’s what this video covers:
– Factors credit reporting agencies use to base your score on
– Areas where a good checking account can help you shine in the eyes of potential lenders
As you can see, a good checking account may not be a factor in helping raise your credit score, but it can certainly do no wrong in the eyes of potential lenders or creditors. Learn more positive things about managing your finances.
This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from ConsumerInfo.com, Inc. © 2014 ConsumerInfo.com, Inc. All rights reserved.