Do you get bad credit when you overdraw your checking account?

Answer 1

Only if you leave it in the negative and it gets charged off--then you are reported to Chex Systems, then you will have a lot of trouble getting another account. Chex Systems is like the Credit Bureau for Banks --they check to see if you have "bad credit" with other banks.

Also, the charge off will appear as a collection account on your report.

So, if it does not stay in the negative no--just make sure you don't get charged off!!!

Hope this helps!!

Answer 2

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 3

I used to be a property manager and you will have a checking account rating that is separate from your credit rating, but it is something that can be checked. Usually bad credit and bounced checks go hand in hand.

Answer 4

Not if it happens once in a while. However, you don't want it to happen because of the fees it costs. See if you can get a reserve fund in case this happens your bank will loan you the amount overdrawn.

Answer 5

No your credit is only affected when you don't pay your debts on time.

Answer 6

It will not effect your your credit score or credit report.