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Does the balance of my savings and checking account effect my FICO score?

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No. They are not related. Certainly having money in the bank helps your ability to borrow. But it doesn't affect your FICO score. Lenders look at credit history, income/employment and cash on hand as the primary factors in a lending decision.

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  1. larry r
    June 8th, 2009 at 11:31 | #1
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    No. They are not related. Certainly having money in the bank helps your ability to borrow. But it doesn't affect your FICO score. Lenders look at credit history, income/employment and cash on hand as the primary factors in a lending decision.
    References :

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