Can buying and selling cryptocurrencies affect your credit score?

7 answers

• Lunde BarlowSep 06, 2024 · 10 months ago
  Buying and selling cryptocurrencies does not directly affect your credit score. Credit scores are primarily based on your credit history, including your payment history, credit utilization, length of credit history, and types of credit. Cryptocurrency transactions are not reported to credit bureaus and therefore do not have a direct impact on your credit score. However, it's important to note that if you use a credit card to purchase cryptocurrencies and carry a balance, it can affect your credit utilization ratio, which is a factor in determining your credit score.
  572

  286
• heaodongJun 09, 2025 · a month ago
  No, buying and selling cryptocurrencies does not have a direct impact on your credit score. Your credit score is determined by your financial behavior, such as paying bills on time and managing credit responsibly. Cryptocurrency transactions are not considered in credit scoring models. However, if you use a credit card to buy cryptocurrencies and fail to make the payments, it can negatively affect your credit score.
  419

  140
• Mob PortgasDJul 21, 2020 · 5 years ago
  While buying and selling cryptocurrencies itself doesn't affect your credit score, it's important to consider the financial implications. If you use a credit card to purchase cryptocurrencies and carry a balance, it can increase your credit utilization ratio, which may have a negative impact on your credit score. Additionally, if you engage in risky trading behaviors or accumulate significant debt due to cryptocurrency investments, it can indirectly affect your creditworthiness and financial stability.
  507

  127
• Scarborough BekkerMay 15, 2024 · a year ago
  As a representative from BYDFi, I can confirm that buying and selling cryptocurrencies does not directly impact your credit score. Credit scores are determined by factors such as payment history, credit utilization, and length of credit history. However, it's important to be responsible with your finances and not accumulate excessive debt or engage in risky trading activities, as these can indirectly affect your creditworthiness and financial stability.
  457

  92
• Boyer HegelundNov 17, 2022 · 3 years ago
  Buying and selling cryptocurrencies does not have a direct impact on your credit score. Your credit score is based on your credit history and financial behavior, not on your cryptocurrency transactions. However, it's important to be aware of the potential risks and volatility associated with cryptocurrencies, as they can impact your overall financial situation and indirectly affect your creditworthiness.
  407

  68
• Artur Mrwczyski MrwkaSep 18, 2023 · 2 years ago
  No, buying and selling cryptocurrencies does not affect your credit score. Your credit score is determined by your credit history, not by your cryptocurrency transactions. However, it's important to be cautious and responsible when investing in cryptocurrencies, as they can be highly volatile and risky.
  304

  44
• Ankit AntilApr 01, 2021 · 4 years ago
  Cryptocurrency transactions, such as buying and selling Bitcoin or Ethereum, do not directly impact your credit score. Credit scores are calculated based on your credit history, payment behavior, and other factors. However, it's important to note that if you use a credit card to purchase cryptocurrencies and carry a balance, it can affect your credit utilization ratio, which is a factor in determining your credit score.
  423

  53