I was told that paying with checks can add to your credit and POSSIBLY raise your score? I dont see why or how that would raise your score as opposed to paying with your debit card because you're still paying with the SAME money on the SAME account, but this is what I was told and I wanted to know if it's true.
I was told it would be better to pay for a car at a dealership with a check because it can add to your credit.
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Sun, Mar 22, 2009
March 22nd, 2009 at 4:51 am
No. You're credit score will not go up by using a specific medium to pay bills. The credit bureaus don't care if checks, credit, debit, etc. are used. They are only interested if you are paying your bills or not.
However, the fact that you are paying bills on time WILL raise your credit score over time. Just keep paying those bills by whatever means you like and you are in good shape.
March 22nd, 2009 at 4:51 am
Sorry…. any transaction you make with your checking account whether you use your debit card or write a check have absoluely no effect on your credit report because your bank account activity does not report to the credit bureaus.
The only time it gets reported is when you are delinquent and owe money to your bank… the kind of info you do not want on your credit reports.
March 22nd, 2009 at 4:51 am
well you've come to the right place if your looking for truth!!!. i've never heard of that.
March 22nd, 2009 at 4:51 am
Paying with checks is good in that you are paying your bills in-full and on-time. The checks themselves don't help the credit any more than paying cash.
Car dealerships used to make you get a cashiers check but now they take a personal check because they can verify with the bank that it is "good"..