PDA

View Full Version : Quick Credit Question



Stitches
12-22-2006, 02:26 AM
Does anyone know if overdrafts of your checking account hurt your credit score?

Amars
12-22-2006, 02:29 AM
No. Checking account is not considered credit.


Only
revolving debts. ie.Credit Card
Installment Loans. ie.Car Loan
Mortgage Loans
Medical Collection
or any other collection resulting from delinquent credit.
Liens, judgements, BK, Foreclosure.

That about sums it up.

Stitches
12-22-2006, 02:30 AM
Sweet. That had me ****ing worried. Stupid payment going through twice.

Amars
12-22-2006, 02:36 AM
No problem. I deal with credit alot and I know checking account overdraft has never shown up on a credit report. Theoretically it can happen if for example you over drafted by $5000 or a big amount. They can turn around a sue you and place a judgement. Then you have problems with credit and checksystem.

Clumpy
12-22-2006, 02:37 AM
What about paying your mortgage late?



:jk: :calm:

Amars
12-22-2006, 02:38 AM
Not for you clumpy. Just keep the cap page updated.

Stitches
12-22-2006, 02:41 AM
No problem. I deal with credit alot and I know checking account overdraft has never shown up on a credit report. Theoretically it can happen if for example you over drafted by $5000 or a big amount. They can turn around a sue you and place a judgement. Then you have problems with credit and checksystem.

I'll have my account back out of overdraft tomorrow, it was just the first time it's ever happened, or even been close to happening. It was only for $400ish, so it wasn't a huge amount or anything that I'm overdrafted.