Even if it is for short periods of time and the amount is repaid.
2006-10-26 12:39:08 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
It depends. If it is unauthorized and stays overdrawn for a while they may choose to report it. But just the odd occasion, probably won't affect your credit at all.
2006-10-26 14:06:28 · answer #1 · answered by ZCT 7 · 0⤊ 0⤋
no it won't affect your credit score, but it does go into a system called check systems. Check systems is what the banks and the government can use to see if you deserve a checking account or loan. Any time you went negative or bounced a check will show up. Although it doesn't afect your credit score, a company can find that info out about you. That's big brother for ya! Hope that helps!
2006-10-26 15:26:41 · answer #2 · answered by a_nurse2b 2 · 0⤊ 0⤋
It can stop you from being able to open another account, or may stop other businesses from accepting your checks. If you bank reports you to a company like Chex Systems your checks wont be accepted. If you do not repay the bank for the overdraft they can take you to court. If you lose that, then the judgement will show up on your credit report. Contact the bank and make arrangements to pay!
2006-10-26 13:46:16 · answer #3 · answered by Shell 3 · 0⤊ 0⤋
chickee po is correct above. Only if the check/debt is not taken care of by your payment AND it's reported to the bureau as a bad debt will it affect your credit. Otherwise, your bank accounts have nothing whatsoever to do with your CREDIT score; just like any other assets you have. Only your use of credit and debt are reflected in your credit score.
2006-10-26 17:02:50 · answer #4 · answered by MJ 4 · 1⤊ 0⤋
It can. If you are able to repay after a short time, you may be able to get a credit card and overdraft protection from the bank. If you overdraw your checking account, the automatically charge the credit card. The fees are usually less than standard overdraft charges.
2006-10-26 14:13:31 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
No it won't affect your credit score. Only actual monetary losses that creditors report to the credit bureau will affect your credit score.
The credit score is a very complicated thing. Here's a website to myFICO.com
http://www.myfico.com/Downloads/Brochures.aspx#cfa
There are some brochures on here that might help you understand how credit scores are calculated. You will need Adobe Reader to view these. Adobe is free. There is a link on that page.
2006-10-26 12:45:17 · answer #6 · answered by Sabina 5 · 0⤊ 1⤋
Probably. If the company reports it to the credit bureau. Wait the short period of time to pay whatever so you don't ruin your credit.
2006-10-26 12:42:00 · answer #7 · answered by phoenixheat 6 · 0⤊ 0⤋
would absolutely one of you high quality responders who replied "sure" to this question please furnish me with the source on your understanding? because nowhere am i able to encounter something about joint checking charges even lined into credit comments. And believe me,,,i have study a set of them. So if i'm lacking something please aspect me to the position i visit study this. to respond to your question...your spouse needs to the way in which to regulate her funds and checking charges. follow the suggestion above and get some overdraft protection.
2016-12-05 06:37:51 · answer #8 · answered by Anonymous · 0⤊ 0⤋
NO
2006-10-26 14:27:51 · answer #9 · answered by Anonymous · 0⤊ 0⤋