Closing a Bank Account? Don’t Let It Hurt Your Credit

Closing a bank account usually won't hurt your credit score. But watch out for negative balances! Unpaid debt sent to collections can damage your credit. Similarly, a bad mark on your ChexSystems report (used by banks) can block new accounts. To close safely, open a new account first, update automatic payments to avoid missed bills, and monitor your credit report for errors. Closing smartly protects your credit score.