Many online savings banks are offering higher interest rates so I%26#039;m considering opening up another one to get the higher rate. However, I%26#039;m concerned about my credit score.
Does opening up savings accounts decrease your credit score?heart rate monitor
Opening up bank accounts doesn%26#039;t affect your credit score at all. You can open up 10-20 accounts. It all doesn%26#039;t matter. What really matters is if you accumulate debt and demonstrate a failure to repay that debt. So you effectively could only have 1 account open, but if you have a large outstanding debt on just the one account, thats worse than having 20 accounts but everything paid off.
Does opening up savings accounts decrease your credit score? loan
Opening a savings account never intefere with your credit score. Loans, credit card or any type of activities where borrowing money is involve reflects your credit rating.|||Some banks will check your credit report(s) before they will allow you to open a checking or savings account. As a result, you could get %26#039;dinged%26#039; with an inquiry. One inquiry usually has no impact on your score, however, several inquiries in a short period of time (month) can lower your scores.
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