If you overdraft your account, does it affect your credit score?
I was driving across country, and accidentally overdrafted my account. I have never done this before, and am trying to correct it asap, but it is difficult to because USAA only allows MasterCard for cash advance. I sent money to my account, but it will not arrive in my account until roughly around the 13th. I overdrafted on the 7th. Does anyone know if the overdraft will affect my credit score?
Asked 4 years, 6 months ago
by Jon Doe
Fort Lewis, WA
0out of 0found this question helpful.
No, your credit score will not be impacted.
However, if you remain overdrafted for an extended period, it will show up on a system called ChexSystems. Anytime you try to open a new checking or savings account, any bank in the US will run a ChexSystems report and they can see you are overdraft and owe USAA money.
If you correct the overdraft within a few days don't worry about it, no one will know.
answered 3 years, 5 months ago
0out of 0found this answer helpful.
For future reference. We always have our checking account tied to an overdraft account such as savings or credit card in case of such an occurance. There is no fee for that service and it certainly saves all those other EXPENSIVE returned check etc fees you incur.
Second, no it shouldn't affect your credit score if you resolve the overdrafts and make good on your payments. Otherwise the vendor may have the right to contact credit reporting agencies.
answered 4 years, 6 months ago
3out of 3found this answer helpful.