Some banks and credit unions suggest that opening an account with them is good for your credit. Good savings habits can help your credit indirectly, but your credit report doesn’t even contain information about your bank accounts.

Your credit report is concerned with your debt, not your assets. It includes information on your credit cards, loans, and other money you borrow. It doesn’t include your savings, investments, or checking accounts. Experian explains (emphasis ours)

Information about assets such as checking account balances, savings account balances, certificates of deposit, individual retirement accounts, stocks, bonds or other investments are not part of a report and so do not impact credit scores.

The same is true for income information. Your salary or hourly wage is not reported to Experian and so is not part of your credit report. As a result, your income does not affect your credit scores.


That said, opening a savings or checking account at a bank can indirectly help you build credit because credit card companies and other lenders might be more willing to approve you for lines of credit if your bank accounts are in good standing. However, opening an account alone will not give you a credit boost.

Photo by Lee Haywood.