Will closing my checking account hurt my credit with them?

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BigDaddy
 
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Will closing my checking account hurt my credit with them?

Postby BigDaddy » Wed Apr 25, 2012 4:17 pm

I am thinking of closing a checking account with Wells Fargo. I also have a credit card with them with a high credit limit and a good interest rate. Will closing the checking account affect my credit limit on my card with them? Thanks!


Money card
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Postby Money card » Wed Apr 25, 2012 10:53 pm

No. As long as your next checking account you continue to pay your bill. If you decide to go with TD Bank as an example, you pay your bill there won't be any problems with credit score.

Will you be asking for a higher limit?
Or are you wondering if closing your checking account will result in them lowering your credit limit?

I'm going to say no, you're still doing business with them.

JCarter
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Postby JCarter » Thu Apr 26, 2012 1:20 am

BigDaddy wrote:I am thinking of closing a checking account with Wells Fargo. I also have a credit card with them with a high credit limit and a good interest rate. Will closing the checking account affect my credit limit on my card with them? Thanks!


Yes. They may not lower it, but they might be a bit more reluctant to raise it.

Retail banks routinely use these accounts to gauge your salary/net worth.



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