Question by  Matilda85 (45)

Can adverse credit result in you not being able to obtain a bank account?

I am concerned that my bad decisions will result in me not being able to open a bank account once I get out of college.


Answer by  pjsfb (221)

Adverse credit results will not impact your ability to get a bank account. It will impact your ability to get a loan, and it will affect the interest you will get charged on loans that you do qualify for.


Answer by  rMitch78 (25)

No, a bank account is a transaction where you are the creditor of a bank and therefore provide funds to them. So credit history should not be a consideration. Adverse credit results could prohibit you from obtaining credit in the form of a mortgage, small business loan, or line of credit.


Answer by  tamarawilhite (17883)

It will not affect your ability to open a savings account. It shouldn't affect your ability to get a checking account and debit card unless you forged a check.

You have 50 words left!