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Overdraft and credit scores?
I overdrafted my checking acct for the first time. But the bank charged us the overdraft fees twice, and made the payment late because of this. Will this totally kill my credit score?
*I have two checking accts and accidentally used the wrong one to pay a student loan payment with.
3 Answers
- 1 decade agoFavorite Answer
It's not going to totally kill your score. It may do something small to it depending on what your credit is right now. If you have little to no credit it will do more damage than if you have average credit.
When people look at your credit they are looking more at the broad scheme of things. They are looking at your total history rather than just the very last thing you have done. If you have made all your other payments on time then it shouldn't do too much too you.
- 1 decade ago
How late were you? Most companies have a grace period of some sort and even then, a "late payment" on your credit score is a payment that was at least 30 days past due. So, if we are only talking a few days here, you are fine.
- Go with the flowLv 71 decade ago
Checking accounts do not report to the credit bureaus.
Only if you allow this debt to go unpaid will they send it to ChexSystems and they will inturn send it to collections if you don't pay.
ChexSystems does not report to the bureaus either.
It would take months for an unpaid debt to appear on your credit report.
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