Will an unplanned (cleared after 1 day) overdraft effect credit rating

As title, does anyone know if an unplanned overdraft, that was cleared the day after, is going to have an impact on credit rating. I know I'll have the bank charges (which I'm going to go in branch tomorrow to try and waive them). However I am more concerned about it having an impact on credit rating and showing on report.

Any advice greatly received.

Comments

  • To add- it was a small amount and an absolute one off.
  • Lenders are generally unlikely to be concerned by by a one off excursion into an overdraft.

    But timing is also an issue. You wouldn't want it to happen just as you apply for a mortgage.
  • Zx81 thanks for the reply

    This is my worry, we are in the middle of mortgage application- credit check has already been done but concerned that if they do another one, they may see this overdraft mark on my report. Hoping that the bank doesn't report it as I cleared it pretty much straight away.
  • All you can do is keep your fingers crossed. If the rest of your application is strong, it should just be a minor blip.

    If you're using a broker, let them know.
  • Zx81, popped into bank today and have been told it will not have an impact on my credit score as I paid within the grace period. Phew.

    Thanks for your help!
  • TheBipper wrote: »
    we are in the middle of mortgage application- they may see this overdraft mark on my report. Hoping that the bank doesn't report it as I cleared it pretty much.

    Hey?

    I believe I was around £12k overdrawn when I applied and GOT my last mortgage. It was more a case of needing to juggle money around rather than actually being £12k in debt.

    #Chill
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.4K Banking & Borrowing
  • 252.9K Reduce Debt & Boost Income
  • 453.3K Spending & Discounts
  • 243.3K Work, Benefits & Business
  • 597.9K Mortgages, Homes & Bills
  • 176.6K Life & Family
  • 256.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.