Doesn't opening new bank accounts hurt your credit score?

aejacks8 · #1 06-08-2008

I was told that opening a new bank account hurts your credit score by a few points. This can really add up if you are opening 5+ accounts to handle multiple ebay/paypal accounts.

If a bank does a "hard pull" of your credit information, your score will be deducted a few points. Has anyone heard of this? Are there any banks that allow you to open an account online without hurting your credit score?

I'm planning on opening 5-8 accounts soon to handle 5-8 ebay/paypal accounts at the same time. Thanks in advance!

GreenBean · #2 06-08-2008

Short answer is to pick a bank carefully that allows 'sub' accounts..... get my drift?

mantisinc · #3 06-09-2008

I want to find one in the UK that allows sub accounts. Well, for under 18s anyway...

GreenBean · #4 06-09-2008

mantis, which have you tried? There is RBS, LloydsTSB, HSBC, Barclays and if
you are desperate Halifax.
RBS is an excellent bank. Some of the best people bank with them. They use paypal.

.

mantisinc · #5 06-09-2008

I haven't tried RBS Miss Green... but I have tried Barclays, Abbey and HSBC. The most they told me with those is just a secondary account under my main account. I'l have to shop around a bit more I guess

I've got 4 different accounts open right now, I just tell each one I use it to organise my online payments, and they don't have a problem with it at all.

MasterChief · #6 06-10-2008

sub-accounts? Whats that? O_o

ebayhateluv · #7 06-10-2008

Mantis---Look for a CREDIT UNION for the uk-- you can open the main acct- then 20 savings./ck accts under that with $5 each...

aejacks8 · #8 06-10-2008

MasterChief, pm me and I'll try to explain it a little better (with help from GB!)

bigmac · #9 04-07-2010

Does anyone know if Harris bank in the usa can be used for stealth accounts?
thanks

First Edition · #10 04-07-2010

One way to find out

hcruz773 · #11 05-13-2010

Credit is based on Debt to income ratios--- if your bank account is below sea level, you might have a few problems

First Edition · #12 05-13-2010

credit scores in the USA has nothing to do with that... it is a score based on 400 to 850 that takes several things into consideration... income is actually not one of them.

Although a bank considers income when giving you a loan.