Question:

If your bank acct. is overdrawn does it affect your credit?

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If your bank acct. is overdrawn does it affect your credit?

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9 ANSWERS


  1. every bank is different. as long as fees are paid and you put money back into your account before they report, which can be from every month to quarterly, you'll be fine!

    But still.... try not to overdraw, keep your books balanced.


  2. Yes= final answer= plus the cost, way out of line but we have to learn.

  3. If you don't pay the fees, and leave the account overdrawn, your bank will close this account, and it will be reported to Chexsystems. This is a reporting agency who keeps information on individuals who mismanage accounts, write bad checks, etc. This will keep you from opening another checking account for at least five years.

  4. Indeed, it does.

  5. well it take a min before it affect your credit if you don't take care of the overdrawn then the bank sent it to a collect agency then if u still don't pay it  wll started to affect your credit so my advice would be pay that overdrawn off before it increased becuz late fees

  6. if you cleared that months it's ok . Other wise  credit will be affected?

  7. There will be no report to your credit as long as you pay the overdraft fees.

  8. No.  Your credit is based on your revolving accounts.  A checking account overdraft will not affect your credit score unless the bank has to take further action to recover its funds.

  9. Not as long as you paid your overdraw fees.  If you just stop using that account and don't pay your fees then they will send you account to a collection agency which will report you to credit bureaus

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