Depending on where you open your savings account, you might impact your credit score -- but probably not in the way you'd expect. Some banks will pull your credit report before approving you to open a new savings account, even though you're not applying for credit. That results in an inquiry on your credit report, which dings your score, but generally not more than five points.

No Further Impact

Besides the potential initial inquiry, your savings account won't affect your credit score in the future, because your assets aren't figured into the credit scoring formula. However, lenders may consider your assets as a separate factor when deciding to loan you money or not. Having extra assets makes it more likely you'll be able to stay current on your loan when unexpected expenses pop up.