Should I closed my Bank Account?

Question

I've got my checking account since 3 years ago. Now I'm moving out of state. Should I transfer the bank account to a new branch? Do I have to close the bank account? What should I do? I've heard that to close accounts hurts your credit history, I don't want to hurt mine. Please advice.

Answer 1

if your bank has a branch in your new state, you can keep it and just change your address, but if they do not have a branch, then simply close your account and open a new one in your new state. And no, generally speaking, closing your checking account is not a negative on your credit file. Make sure all your checks have cleared on your "old" account--if you don't, and close the account, the resulting bounced checks will not be good for your credit.