Question

Will overdrafting on my bank account affect my credit score?

I paid off all the fees the day I overdrafted and nothing bounced or anything bc the bank paid it.

6 years ago - 8 answers

Best Answer

Chosen by Asker

No it will not afect your score. You said you paid all the fees, and everything was paid. If you didn't pay the bank back, then they would close your account, report you to chex systems, and place the account with a collection agency. If that happens, then the collection agency could report to your credit. take care

6 years ago

Other Answers

Almost everything ends up on your credit history and overdrafing is no exception.

by SuperCactus - 6 years ago

No, it doesn't affect your credit score.

(I responded to your particular situation. Of course if someone owed a bank money and the bank closed the account that would be different. But if you just overdraft with your bank and pay the fee then it's not reported to credit bureaus).

by the Boss - 6 years ago

Only if the bank closes your account and reports you to the 3 credit bureaus. Equifax, transunion and Experian.

by AviTech - 6 years ago

yes it does. whenever you owe any money, it affects your credit score. best to owe no money if you want a high credit score.

by Window Shopper - 6 years ago

Get overdraft protection and it definitely won't. That is a set amount of money that your allowed to overdraw and only pay daily interest on it until such time as you pay it back.I couldn't live without it.

by EveretteDavid - 6 years ago

Yes it will only if you don't pay it and the bank closes your account and sends you to the credit bueros, then its on your credit for 5 years !

Source(s)

by your boo - 6 years ago

The only way to tell is to obtain a copy of your credit file. If your current account shows as a payment being missed it will lower your score by different amounts according to different lenders.

If the payment is recorded as being a made a 0 payment will be registered for that months payment this will not afect your score as no one can tell what happened outside of your own bank....

Make sure that this months credit report has been updated before relying on your credit file.

by slipknut4000 - 6 years ago