Can overdrawing your checking account numerous times cause bad credit?
I pay everything on time, never late, always pay enough and yet I still have pretty bad credit. My only problem is overdrawing my account.
Does it screw me over?
2007-10-07 11:02:54 · 3 answers · asked by sulli21282 1 in Business & Finance ➔ Personal Finance
I don't know if I'd consider it as screwing you over, since you're doing it to yourself, but yes, repeated overdraws can mess up your credit.
2007-10-07 11:16:16 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Yes! I've heard that some banks are closing accounts due to excessive overdrafts and that the banks are now networking so that other banks may refuse to open an account with you.
2007-10-07 11:07:38 · answer #2 · answered by JoAnn C 1 · 0⤊ 0⤋
Yes, it will. I recommend you get overdraft protection. Basically, it provides a short term loan tied to your checking account, if you over-withdraw, the loan kicks in.
2007-10-07 11:11:11 · answer #3 · answered by amorde 3 · 0⤊ 0⤋