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TheFixerUpper

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High yield savings account with bad credit but good banking history?
I am nearing the point in my life where I can start saving. I want to open a high interest savings account, but my credit is BAD. I have a good banking history though (no negative balances, no bounced checks, no multiple checkbook orders or large amounts of checks written. My problem is I am in massive student loan debt and behind on payments for my private loans. I make peanuts at my job, but want to put away any "extra" money into a savings account that makes interest. Would I be able to join something like Synchrony or Ally even though my credit score is low since my actual banking history is fine? Thanks!

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The only firm who will provide you any credit for your past banking history is the bank that you are currently using.  Other firms would not have any knowledge of your banking history and it will appear no where on your credit report.   For the highest interest accounts, there usually is a depost of a hefty amount, say 5 or 10,000.   You may have to start out with a standard savings account to begin the process of saving and move it to a high yield account when you have the minimum deposit they require.   While I applaud you desire to start savings, any interest rate you would get would be minimal considered to the interest you are currently paying on those past due debts.  You may want to consider their 15-30% interest rate in your plans.

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