Quick question if anyone knows: I just recently starting buiosikng my credit after being with Wells Fargo (my first bank) for a decade. I have good credit cause I don't overdraft and I'm loyal but I want to switch to a credit union. How likely is it that will lower my credit score much? I'm looking to buy a house sometime soonish. Thanks
Opening/closing a bank account will not affect your credit in the slightest unless they do a hard pull of your credit to start the account. Even then its very minor unless you do credit checks too often.
Savings/Checking accounts hardly matter in credit scores, it's repaying credit cards and installment loans on time for years that gives you a high credit score. Also your overall credit utilization, I've gotten a very high score from having lots of cards open but using less than 10% on average of the sum total of the credit limits, I tend to cycle through which cards I use depending on what reward points I'm banking and keep them all active by having a different bill being autopayed on each card and just pay them all off every month.
Quick question if anyone knows: I just recently starting buiosikng my credit after being with Wells Fargo (my first bank) for a decade. I have good credit cause I don't overdraft and I'm loyal but I want to switch to a credit union. How likely is it that will lower my credit score much? I'm looking to buy a house sometime soonish. Thanks
Opening/closing a bank account will not affect your credit in the slightest unless they do a hard pull of your credit to start the account. Even then its very minor unless you do credit checks too often.
Savings/Checking accounts hardly matter in credit scores, it's repaying credit cards and installment loans on time for years that gives you a high credit score. Also your overall credit utilization, I've gotten a very high score from having lots of cards open but using less than 10% on average of the sum total of the credit limits, I tend to cycle through which cards I use depending on what reward points I'm banking and keep them all active by having a different bill being autopayed on each card and just pay them all off every month.