Which is a key benefit of opening a checking account for credit history?

Opening a checking account can positively impact an individual's credit history, primarily because it establishes a banking relationship that lenders may consider when evaluating creditworthiness. Having a checking account demonstrates financial responsibility and the ability to manage funds effectively. This financial behavior can improve one's credit profile, making it easier to secure loans in the future. Lenders often look for consistent banking activity as an indicator of reliability, and a checking account can provide that evidence.

The other options, while they may have their own advantages, do not directly relate to enhancing credit history. For instance, having a higher interest rate on savings pertains solely to savings accounts and does not affect creditworthiness. Similarly, while a checking account can facilitate easy cash withdrawals, this convenience does not influence credit history. Finally, the elimination of monthly fees on credit cards is more about credit card management than the benefits of a checking account in relation to credit history.