by MHfreak1991 on October 25th, 2009

Question

Help answer this question below.

I overdrafted on my checking account. i have overdraft protection which takes the money that i went over to pay for it, along with a fee from my savings account. will this hurt my credit?

Like
Report

Share:: Facebook; Twitter; Other

Answers. 4 helpful answers below.

by pedal junky on October 25th, 2009
no you're cool
Comments
- thanks!
  - Report
  by MHfreak1991 on October 25th, 2009
Add a comment...
- Like
- Report
1 comment | Post one | Permalink
by bagicide stayed 10 months too long on October 25th, 2009
It shouldn't, as long as you don't make a habit of it. It happens to everyone from time to time. Everyone makes mistakes.
Comments
- it wasnt just once...
  - Report
  by MHfreak1991 on October 25th, 2009
- Maybe you'd better talk to your bank about it. If it was several checks in one episode, it shouldn't be a problem. Once one bounces, every one after it bounces. But you don't want to be doing it every week.
  - Report
  by bagicide stayed 10 months too long on October 25th, 2009
- yah. im sorta worried, its not like i didnt have money cuz they took it from my other account, but i dnt know for sure
  - Report
  by MHfreak1991 on October 25th, 2009
- When in doubt, you are ALWAYS better off to talk to the bank. That is how they know you are responsible and operating in good faith. If you contact them instead of waiting for them to find you, they aren't going to be worried about their money. Also, deal with a local bank whenever you can. They remember what you've done in the past. It isn't a note in a computer from a customer service rep in Bolivia that you hope the customer service rep in India reads. It is Sue from the bank who has known you for tens years and who will remember you were responsible over this when you go in for your next loan.
  - Report
  by bagicide stayed 10 months too long on October 25th, 2009
- oh ok. thanks for the info. i dont think ill be needing a loan soon tho
  - Report
  by MHfreak1991 on October 26th, 2009
- Whether you do now or not is beside the point, always protect that ability for the future.
  - Report
  by bagicide stayed 10 months too long on October 27th, 2009
- yes i have just recently set up some savings thru the military
  - Report
  by MHfreak1991 on October 27th, 2009
Add a comment...
- Like
- Report
7 comments | Post one | Permalink
by -Icy- on October 25th, 2009
not in the least. you are only reported if you go 30 days late paying.
Comments
- thanks, i would rather pay a fee than hurt my credit
  - Report
  by MHfreak1991 on October 25th, 2009
- Amen, smart person that you are !
  - Report
  by -Icy- on October 25th, 2009
- lmao
  - Report
  by MHfreak1991 on October 25th, 2009
Add a comment...
- Like
- Report
3 comments | Post one | Permalink
by john pennington on October 25th, 2009
Most banks offer overdraft protection. its for two reasons. for the bank to make money and to keep your overdrafts in house with the bank.

I have never heard of a bank releasing this information to a credit bureau. that would be defeating the purpose of overdraft protection and could put the banks in jeopardy, like double-dipping.
Comments
- yes true. thanks!
  - Report
  by MHfreak1991 on October 25th, 2009
Add a comment...
- Like
- Report
1 comment | Post one | Permalink

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Should you put a 529 college savings plan in the name of your trust?
by Answerbag Staff on March 18th, 2011 | 1 person likes this
What is the maximum amount that can be funded in a 529 plan?
by Answerbag Staff on March 14th, 2011 | 1 person likes this
What is a health savings account (HSA)?
by Answerbag Staff on March 9th, 2011 | 1 person likes this
what is the best online savings account? one that has a respectively high monthly rate
by arty123 on June 24th, 2011 | 1 person likes this
What is the best way to keep your savings hidden and private and safe from the public?
by Anonymous on September 27th, 2011 | 1 person likes this
More Savings Accounts See only professionally researched Savings Accounts questions

You're reading I overdrafted on my checking account. i have overdraft protection which takes the money that i went over to pay for it, along with a fee from my savings account. will this hurt my credit?

Question

I overdrafted on my checking account. i have overdraft protection which takes the money that i went over to pay for it, along with a fee from my savings account. will this hurt my credit?

Answers. 4 helpful answers below.

Comments

Comments

Comments

Comments

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Follow us on Facebook!

Related Ads

Related Questions

I'M 37, I'VE DESTROYED MY CREDIT(JUST SHY OF BANKRUPSY) INCLUDING DESTROYING MY CHECKING AND SAVING PRIVLEDGES AT ANY OF THE "COMMON" LOCAL BANKS. HOW CAN WE INVEST OUR MONEY OR FIND A WAY TO TO BE FORGIVEN AND OPEN A "HIGH INTEREST" SAVINGS ACCOUNT?

If you had $100 in your checking account and you wrote 4 checks for $1 $1 $1 and then one for $100, you might have 3 checks clear and one overdraft fee. But banks will now run the $100 check first, then the three $1's so you pay 3 fees. Do you object?

So I heard that the Bank of America Keep the Change program supposed to take your change from your checking account to savings account, if you buy something $4.50, you'd be charged $5.00 and the 0.50 will go to your savings account. What about $4.01?

One phone company charge me $55 instead of $5 and that made my checking go negative, I got charged an overdraft fee, when phone co. refunded my money back, the bank refunded the overdraft fee, will that affect my credit history& lower my FICO score? How?

On my credit report I have an overdraft on my previous checking account showing as paid. 2 differnet banks wont let me open an account now. Are there any banks known for being more lenient and will let me open an account?

Professionally Researched

What is the difference between a savings and checking account?

How do I compare credit union savings account interest rates?

Do you need good credit to open a savings account?

Is a money market checking account also a savings account?

Does Crown Banking Come With a Free Savings or Money Market Account?

ANSWERBAG BUZZ

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!

Question

I overdrafted on my checking account. i have overdraft protection which takes the money that i went over to pay for it, along with a fee from my savings account. will this hurt my credit?

Answers. 4 helpful answers below.

Comments

Comments

Comments

Comments

Did this answer your question? If not, then ask a new question or create a poll.

More Questions. Additional questions in this category.

Follow us on Facebook!

Related Ads

Related Questions

Professionally Researched

ANSWERBAG BUZZ

Answerbag.com Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!

Answerbag.com
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!