germanguy

Can my checking account lower my credit score due to bounced checks and overdraft charges?

uncle_el

having just received my credit report, i see no mention of my checking account anywhere. i would assume that means your checking account is not a part of the credit report (which is about "credit" not the money you have, lol).

however,i would think that if you are bouncing checks left and right, that you may have, or may be on the way to, not paying your credit card payment on time, or missing payments completely. that type of history will be on your credit report.

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Amnesia620

Hey Uncle El. This is off-topic; I just wanted to say those are two very awesome quotes you have on your posts.

Ok, now, back to the topic...Germanguy, it may depend on which state you live in, however, if you bounce checks and don't pay what you owe to the store where you bounced the check (I.E. You order pizza, pay with a check and it bounces, the pizza place may ask that you pay it or it will go to collections). If it reaches collections, it will go on your credit report.

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yatzr

i have a check card that I use a lot, and I'm pretty sure it's had an affect on my credit score (or at least on my bank's opinion of me). I used it for two years (with no mistakes) before I applied for a credit card from the same bank and I received the largest credit limit the guy had ever seen for a first timer. The guy was my brother's friend so I know he was serious.

But I don't know, that's just my guess

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cyrnel

Not directly, but if you apply for credit the institution can request banking history that will reveal any overdrafts, and this can affect your chances for competitive rates. It isn't likely to happen unless you're shopping for a mortgage.

jstory

Yea i bank a wamu and they said they dont report to the credit agencys but as mentioned earlier if you want a credit card from wamu or a loan they will look at it.

FngKestrel

Wamu doesn't offer a credit card of their own. I tried to get one last week.

FlatLand Flyer

I was a collector in North Dakota. All bounced checks would go from the bank to us directly and when we would contact the debtor, it would often be news to them that they bounced a check. If they did not pay for the check, plus the fee, we would then put it on their credit report as a last resort.

NoSoup

Nope*

* Unless, like people previously said, you get sent to collection - which will then be reported to the credit reporting agencies.

However, as a side note, if you are continually bouncing checks, you will likely be reported to "Chex Systems" - a company that produces a report regarding checking accounts. If you are reported to Chex Systems for overdrafts, it can be extraordinarily difficult to open another checking account for a long, long time - up to seven years. Many financial institutions won't allow a person with a Chex Systems record to open a checking account at all...

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Just in case you were wondering...

abaya

Almost a 3 year old thread, just an FYI...

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