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How many overdraft fees does it take to start affecting your credit?
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baghag
:P
Member since 5/05 10278 total posts
Name:
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How many overdraft fees does it take to start affecting your credit?
Thanks!
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Posted 5/17/07 2:04 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: How many overdraft fees does it take to start affecting your credit?
It doesn't . Thats between you and your bank.
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| Posted 5/17/07 2:30 PM |
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Superkat
More a stranger than a friend
Member since 5/06 9730 total posts
Name:
K
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Re: How many overdraft fees does it take to start affecting your credit?
LATE fees will affect your credit. Overdraft fees don't affect you, unless you maintain a negative balance with a bank and close the account. If you maintain a negative bank account and don't use it, they can report it on your credit report.
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| Posted 5/17/07 2:43 PM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: How many overdraft fees does it take to start affecting your credit?
TY guys...It looks like I will have to beat some sense into my little brother.  
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| Posted 5/17/07 2:48 PM |
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MrsMerlot
Unconditional Love
Member since 4/06 6005 total posts
Name:
Chrissy
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Re: How many overdraft fees does it take to start affecting your credit?
What happens with you and your bank is between the two of you.
Overdrafts do not effect your credit, HOWEVER...if you are constantly having them and your account goes into default (negative balance) for a significant amount of time, you are added to a registry (CheckFirst - I think that's the name of it) and you will be unable to open an account w/another bank until you've resolved that negative balance.
After a while of being part of that registry it is listed on your credit report.
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| Posted 5/17/07 2:58 PM |
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