Can overdarft facility affect credit rating?

As a student i went over my overdraft limit a few times. will this affect my credit rating? I'm looking to get finance on a new car and this is the only debt i've ever had. I have a phone contract.

Can overdarft facility affect credit rating?
No. Your credit report really shows only a few things.





(1) fixed duration loans which you have taken out (i.e. car, mortgage, personal, etc);





(2) revolving lines of credit (i.e. credit cards, home equity lines of credit, etc); and





(3) delinquint bills which have never been paid and turned over to collection agencies (i.e. unpaid medical bills, unpaid cell phone bills, etc).





There are a few other things that come into play like the amount of available revolving credit you have, the amount of times you have recently applied for credit, and such, but basically your question seems to pertain to whether spending more money than you have available in your overdraft protection and therefore bouncing a check, will hurt your credit.





As long as you paid the fee for the exceeding your overdraft protection, you should be fine.





Everyone bounces a check from time to time, it doesn't mean they are bad credit risks.
Reply:get a look at your credit report from experian. its free for 30 days although they do take your bankdetails when you sign up but dont take money until after the 30 days unless you cancel it before then. Ive done this and you can see exactly what the banks and that see.
Reply:it does appear to be relevant to finance companies but not necessarily a complete no no .
Reply:Nah. I've accidentally overdraft tons of times and it hasn't affected my credit yet.
Reply:heheh. No relax. It will not be there.





The only time it will ever show up is if you dont pay them back on time and your account goes into default and ends up in collections.





Good Luck
Reply:farting the wrong way can effect your credit rating. Everything you do (especially today) has some long term effect.