Q: I know that closing a credit card account can affect my credit score, but what about closing a bank account?

A: The answer to that question is no, closing a bank account will not hurt your credit score.

That’s because your credit score is calculated from information that is found in your credit report, and your credit report has to do with credit—what you owe, how much you owe, and to whom you owe the money, as well as any credit issues you may have or have had (bankruptcy, for instance.) A bank account has nothing to do with credit or credit issues; therefore, any activity involving opening or closing a bank account will not hurt your credit score.

If, however, you open a bank account that provides overdraft protection (and you take advantage of it) you could hurt your credit score. In some instances, overdraft protection is considered to be a type of short-term loan; therefore, if your bank offers this service, a “hard check”; that is, one that checks your creditworthiness may be conducted.

In order for a “hard check” to happen, the people doing the checking have to ask your permission and also obtain your social security number. These checks are subsequently recorded on your credit report, and too many of them can hurt your credit score.