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Under: Best/Worst Financial Products
Doesn't length of time with banks affect credit rating?
  • janie23
    I've always been under the impression that the amount of time you've spent with a bank affects your credit rating. Am I wrong on this?
  • bhardeman
    Hi, janie23! Bethy from Credit Karma (http://www.creditkarma.com/) here. You're partially right. Your age of open credit lines is a factor in your credit score, but this is only for open accounts like credit cards and loans. So, if you've had a credit card account with your bank for many years, that will definitely benefit your credit.

    However, banking and savings accounts have no impact on your credit. Happy to answer any other questions you might have!
  • Christina Nesbitt
    The only time your bank account would affect your credit score is if the account was left overdrawn and the bank sends your debt to a collection agency. Unfortunately an account in good standing doesn’t affect your score and isn’t reported.

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