How much Credit damage will exceeding an O/D cause?

Jeojadi_2

Hi - newbie here, apologies if this is in the wrong place.

I have exceeded my HSBC overdraft by £640, and they are calling me 2/3 times a day. I have explained every time and been into the branch to advise, that I can't clear it until I get paid.

They are charging me £175 in fees, and will not budge. My question is - how much damage to my credit score am I doing my being unauthorised over an O/D, and by not paying it immediately?

Thanks everyone. Great, wonderful site by the way

Cash_Flow

Jeojadi wrote: »

Hi - newbie here, apologies if this is in the wrong place.

I have exceeded my HSBC overdraft by £640, and they are calling me 2/3 times a day. I have explained every time and been into the branch to advise, that I can't clear it until I get paid.

They are charging me £175 in fees, and will not budge. My question is - how much damage to my credit score am I doing my being unauthorised over an O/D, and by not paying it immediately?

Thanks everyone. Great, wonderful site by the way

Is your O/D listed on your credit file? if the answer is yes, for every month you are over your O/D limit your account will be showing as (1) (2) (3) (4) Arrears etc etc then possibly (D)/(8) for default.

nomoneytoday

If you clear it in full when you get paid, then it probably won't do that much in the long term...

(Assuming you get paid monthly and it is a short term overdraft, rather than a revolving situation)