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Friday, November 6, 2009

Does opening many checking accounts effect my credit rating?

I have been consistently recieving offers from my bank to open new checking accounts which will have 100 dollars transfered into them upon opening them. They send one about every month. I've opened 2 so far for the cash and closed them, and I was curious, if I keep this up is there anything that can go wrong?

Does opening many checking accounts effect my credit rating?
No it doesn't affect your credit rating. However, there are checks and balances in place within the banking industry and if you are constantly opening and closing accounts, you are going to send up a red flag.
Reply:DDA accounts are not typically part of credit reports unless there is a credit line attached to them.
Reply:NO...............


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