You’ve probably been told over and over that even applying for certain accounts―like store credit accounts―can hurt your credit score. So it’s only natural that you’re worried about the effect opening a business bank account can have on your credit.
The good news? In most cases, you can open a bank account without any affect on your credit score. Most banks don’t even look at your credit report. They do look at another report about you though―and it can make or break your application.
In this guide, we’ll explain how banks (don’t) use your credit score to make account decisions and tell you about the ChexSystems report they look at instead.