Can Closing a Checking or Savings Account Hurt Your Credit?

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Because checking accounts and savings accounts are not credit accounts, closing them will not impact your credit. However, keep in mind that closed banking accounts may show up on banking reports, so your closed account could impact your future ability to open new accounts.

GCS Credit Union is committed to helping all of our members understand credit and other parts of managing their finances effectively, so that they can reach their goals. To learn more, contact our credit union in O’Fallon at (618) 797-799.

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