Comments on: How does it look on a credit rating to have 3 bank accounts open? http://www.gettingbestcredit.com/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/ Call 888-653-9681 To Get Debt Help Now! Sun, 19 Feb 2012 11:44:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jc2k353 http://www.gettingbestcredit.com/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-243 jc2k353 Wed, 07 Jan 2009 19:09:24 +0000 http://gettingbestcredit.com/blog/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-243 bank accounts do absolutely nothing for your credit... the only things that affect your credit are open/active revolving or installment loans. So... you need to get a small loan or credit card/gas/department store card to establish credit. You DO NOT have to carry a balance, just open the account.. use the card 1 time and pay it off @ the end of the month. If you do carry a balance... be sure it's less than 30% of the limit ($300 limit- keep balance under 100) Good luck!! bank accounts do absolutely nothing for your credit… the only things that affect your credit are open/active revolving or installment loans.

So… you need to get a small loan or credit card/gas/department store card to establish credit. You DO NOT have to carry a balance, just open the account.. use the card 1 time and pay it off @ the end of the month.

If you do carry a balance… be sure it’s less than 30% of the limit ($300 limit- keep balance under 100)

Good luck!!

]]> By: Suzy http://www.gettingbestcredit.com/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-242 Suzy Tue, 06 Jan 2009 12:24:06 +0000 http://gettingbestcredit.com/blog/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-242 Bank accounts do not show on your credit report. The best way to increase your credit score is to have a consistent record of on time payments. Also, close any credit accounts that you do not use often. They count as potential debt even with a zero balance. Bank accounts do not show on your credit report. The best way to increase your credit score is to have a consistent record of on time payments. Also, close any credit accounts that you do not use often. They count as potential debt even with a zero balance.

]]> By: SPIFIMAN1 http://www.gettingbestcredit.com/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-241 SPIFIMAN1 Tue, 06 Jan 2009 06:00:33 +0000 http://gettingbestcredit.com/blog/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-241 Since bank accounts do not show up on credit reports it doe's not matter. The quickest way to raise score is by using a couple of credit cards for every day things never exceed 30% of your credit limit and pay them off in full every month before the due date. Credit scores are based on the following factors; 1. Payment history 35% 2. Time in bureau 15% 3. Types of loans 10% 4. New loans 10% 5. Debt to credit ratio 30% To have the very best score and profile people need 3 credit card accounts (revolving) with balances below 30% of their credit limits and 2 cars, boats, homes, computers, furniture or personal accounts (installment) all with good long pay history's. Notice I said nothing about available credit because it doe's not matter the only thing that does is your debt to credit ratio and it needs to be under 30%. Since bank accounts do not show up on credit reports it doe’s not matter.

The quickest way to raise score is by using a couple of credit cards for every day things never exceed 30% of your credit limit and pay them off in full every month before the due date.

Credit scores are based on the following factors;
1. Payment history 35%
2. Time in bureau 15%
3. Types of loans 10%
4. New loans 10%
5. Debt to credit ratio 30%

To have the very best score and profile people need 3 credit card accounts (revolving) with balances below 30% of their credit limits and 2 cars, boats, homes, computers, furniture or personal accounts (installment) all with good long pay history’s.

Notice I said nothing about available credit because it doe’s not matter the only thing that does is your debt to credit ratio and it needs to be under 30%.

]]> By: Stuart http://www.gettingbestcredit.com/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-240 Stuart Sat, 03 Jan 2009 16:28:55 +0000 http://gettingbestcredit.com/blog/credit-questions/how-does-it-look-on-a-credit-rating-to-have-3-bank-accounts-open/#comment-240 Bank accounts do not show up on your credit report. -Stuart Bank accounts do not show up on your credit report.

-Stuart

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