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Monty Burns |
Hi, Is it bad to go frequently overdrawn? I'm asking because i go overdrawn on my current account just about every month and i know my bank dont charge me anything for this, but im wondering if it may have an effect on my credit rating. Do you get a black mark striked against you each time this happens, or if you just exceed your set overdraft limit? Posted 3 years ago #
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huckleberry |
Its not ideal to keep going overdrawn but its ok so long as you dont exceed your limit, otherwise you'll incur charges. I dont think using your overdraft facility will affect your credit history at all(its there to be used after all!), but it may cause problems if you keep going past it. The only other problem i can think of is that your bank may not look on you favourably if you want a credit card or loan in the future. Posted 3 years ago #
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John Henson |
Not at all, dont worry about it. I go overdrawn all the time and have done for as long as i can remember. I also check my credit reports at least once a year and i have never found anything on there which would suggest going overdrawn is bad. Posted 3 years ago #
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