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Choosing a bank(s)

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DeletedUser394

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EDIT: The question is essentially: I want to open 4-6 different accounts at different institutions (banks/brokers/credit unions). Does the fact of having that many accounts spread out negatively/positively/not at all affect credit rating and ability to get mortgages/commercial loans in the near and long term future.

From my research it seems that it would have little to no effect on my credit score (provided I keep out of negative balances).

Does it matter what bank/credit union I use for my accounts?

I'm looking into the future to where I would need mortgages/commercial loans, etc. Is there any benefit to being a member of one bank for a long time..would that help your cause towards getting the loan(s) in question?

Or does it really not matter?

Because right now I have a personal chequing account, savings account, investment/trading account, and a business account with one bank.

I've never done the due dilligence on different offers from different banks until now and I'm seeing advantages to opening accounts at different institutions. (I don't mind having 4 different banks)

For example I found a credit union that offers free and full chequing services for people under 23, then I found another bank that offers a decent rate on a savings account, then I found a really cheap broker (50% less/trade than I'm paying now) and another chartered bank that offers some nice perks on business accounts.

Any problem with spreading my accounts around like that or does it make absolutely no difference when I go hunting for loans/mortgages in the future.

Gracias :)
 
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You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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