Though credit reports typically do not list information about income, investments, or savings accounts, some banks may perform a hard inquiry when you are opening a savings account, which could affect your credit score. Therefore, it’s best to check with the bank about its credit check policies.

A bank might want to do a credit check for a number of reasons. A credit report contains your credit history, including what types of bank accounts you have, how long they’ve been open, whether or not you pay your bills on time, and if you’ve ever filed for bankruptcy.

There are two types of credit checks: hard and soft credit inquiries. A hard credit inquiry or pull happens when prospective lenders or financial institutions check your credit report to make a lending decision, such as whether or not to give you a loan. Such an inquiry can adversely affect your credit score for around two years. A soft pull occurs when a company checks your credit report as part of a background check and does not affect you in any major way.

Note: Please check with your bank, as this example may not apply to your individual circumstance.