Guide

Do bank bonuses hurt your credit?

Usually not. Opening a checking or savings account is different from applying for a credit card.

What banks check

Most banks look at ChexSystems or a similar banking history report. It shows things like unpaid overdrafts or accounts closed for fraud, not your credit score. A ChexSystems check doesn't affect your credit.

When a credit check can happen

A few banks run a credit check when you open an account, and some do it only if you ask for overdraft protection. If a bank does a hard credit check, it can lower your score by a few points for a short time. Skipping overdraft protection avoids most of these.

Opening several accounts

Opening a handful of accounts over a year is normal. Space them out the way your plan does and keep each one in good standing until it's safe to close.