Does going overdrawn every month (authorised O/D) affect my credit rating?

The answer is a simple no!

All the other waffle in some of your answers is just that %26#039;waffle%26#039;!

The advise about %26#039;getting your house in order, is also waffle.

A lot of people choose to have authorised O/D for many reasons , maybe your pay check wont be in before a large bill is due to be paid, maybe you have other payments due to be paid into your account, but not in time to pay required outgoings.

If anything your ability to pay this authorised O/D as agreed is a benifit to your credit rating! The banks arent going to lose out whatever happens, at present you will pay about 3% a month on outstanding authorised O/D, not losing any thing there are they?

If you try o over reach your authorised O/D limit they will send you a nice little letter informing you of something you already knew and charge you about 鎷?0 for this useless info!

To cut myself off before I go ino complete %26#039;rant mode%26#039; the answer to your question is no., as long as you handle it correctly, if you handle it correctly you will get higher and higher authorised O/Ds should you need them.

Does going overdrawn every month (authorised O/D) affect my credit rating?

Thanks for the points Report It

Does going overdrawn every month (authorised O/D) affect my credit rating?

Not directly but the fact that you can not handle money might not be so good in the long run, you need to rethink your spending habits and correct them so you dont get Overdrawn anymore.

Does going overdrawn every month (authorised O/D) affect my credit rating?

no it doesn%26#039;t affect your credit. if you didn%26#039;t have the overdraft and you kept overdrawing then it would go on your credit.

Does going overdrawn every month (authorised O/D) affect my credit rating?

No!!!

Does going overdrawn every month (authorised O/D) affect my credit rating?

I%26#039;ve never heard of an authorized o/d. ??? When you never have enough money to go around the creditors are sure to take notice of that. Get your house in order.

Does going overdrawn every month (authorised O/D) affect my credit rating?

No, nothing reports to your credit unless you go past due over 30 days....but the bank would possibly look at this if you were trying to get a loan from them personally--they have the ability and right to look at all of your accounts to see how you are handling them. It would be better to control your spending and use the OD in extreme cases.

Does going overdrawn every month (authorised O/D) affect my credit rating?

No it doesnt affect your credit, but it speaks volumes of what to expect.

It eventually may get to your credit if the bank decides (which it has the right to do) to close your account for abuse or NSF activity.

Does going overdrawn every month (authorised O/D) affect my credit rating?

Yes it does. If you want to stop that you may want to consider some sort of overdraft protection. Usually it doesn%26#039;t cost you anything and stops all those $30.00 NSF fees. In my case the protection automatically puts in an extra $200.00 into my checking account automatically if I run out of money. The $200.00 is charged to like a credit card which I repay later. Hope that helps.

Does going overdrawn every month (authorised O/D) affect my credit rating?

Definitely! Equifax is a points system which judges your financial history, the more you go in the red the less points you have. You can increase your points by owning a house, paying your bills on time, not going in the red, basically being responsible with your money. Good luck

Does going overdrawn every month (authorised O/D) affect my credit rating?

No, not if you keep in touch with your credit rating. They will

try to screw you off for your money. Check your credit rating every week to stay clean.

Does going overdrawn every month (authorised O/D) affect my credit rating?

No because its authorised. A bank overdraft is not used for credit ratings. However, if you were to ever borrow a loan/apply for a credit card from the same bank, they might look unfavourably at this and may not lend to you.