topic Re: Does adding your Checking Account Help Score in Rebuilding Your Credit

Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 16:37:49 GMT

I saw that adding this might indicate stability to creditors, but does it increase your score at all?

Re: Does adding your Checking Account Help Score

marty56 — Wed, 21 May 2008 16:42:24 GMT

Checking accounts dont show up on your credit report but opening one up will probably cause a hard INQ.

You debit Mastercard/Visa card wont show up either.

Re: Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 16:44:14 GMT

adding your checking account to what?

neither your checking or savings accounts are reported.

Re: Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 17:09:07 GMT

Do you mean setting up automatic payments with creditors??...I heard of that..i don't think hat helps your scores...

Re: Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 17:32:08 GMT

Accounts cosigned with a spouse should appear on your report. You may also want to add a bank checking or savings account especially if you are trying to establish a credit history.

This statement appears on the "write a dispute letter section" in MyFico, it is under the accounts section. I was just wondering if it would help my score if it does indeed help establish credit history. I have had a checking account (1) for many years so I thought it might extend the length of history. Wasn't sure.

Re: Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 17:58:46 GMT

No..bank accounts don't....SORRY!!!...I wish!!

Re: Does adding your Checking Account Help Score

Anonymous — Wed, 21 May 2008 21:17:26 GMT

The only time that a bank report to the CRAs is when you OWE them money!!!

Re: Does adding your Checking Account Help Score

llecs — Thu, 22 May 2008 00:36:13 GMT

You might be able to add your checking account to your Chexsystems report and could help. But that isn't very beneficial in applying for CCs, loans, mortgage, etc. A good looking Chexsystems will aid in opening future checking or savings accounts. It will also help with some CUs for apping for CCs for CCCU or NASA to name a couple.

Edit to clarify..... based on your post's title...No, to echo others it won't help.

Message Edited by llecs on 05-21-2008 08:36 PM

Re: Does adding your Checking Account Help Score

Anonymous — Thu, 22 May 2008 04:48:19 GMT

I saw the same info when i signed up for scorewatch or something.
I disputed and added the checking acct info but luckily the cra responded and said they do not add checking/savings accounts to your credit reports.
After I disputed and added the accounts, I realized what a mistake that would have been had the CRA added the accounts.
Doing so gives the creditors your personal banking info and it would make it alot easier to get your money.
Hope this info helps.