Will a closed checking account affect my credit rating?

Question

My bank has closed my checking account due to a company double billing me within the same billing period leaving me in the negative. Will this affect my credit rating at all? I do not want this to show up on my credit report. If it doesn't, I will leave it be. If it does, I will give them h--- for a variety of things leading up to this event. Please help me.

Thanks!

Answer 1

You should clear this up with the bank. It won't go on your credit report, unless they send it to collections, but it will put you on ChexSystem. You won't be able to get another bank account.

If a company double billed you, you should be able to get the bank to reverse one of the charges. You should also withdraw that company's authorization to debit your account -- do it by letter, certified mail, return receipt and copy to the bank.

It is a very bad idea to give any company access to your bank account for just this reason.

Answer 2

Not at all, people put far to much emphasis on checking accounts!