Went into OD for about 10 secs

themorganator4

Hi guys, i am trying to avoid using my overdraft as I am saving up for a mortgage so trying to keep my credit report in shape.

One of the tactics I am using is by avoiding using my overdraft however, just today I went in it for about 10 seconds then topped up the account to take me out of it.

Will this go on my report or was it too quick to even register?

sourcrates

I think you may be seriously overthinking this friend.

[Deleted User]

As long as you rectify within the day, you're normally fine.

Ebe_Scrooge

If it was less than a day then it'll be highly unlikely to even register.

But I wouldn't worry anyway. Very occasional use of an arranged overdraft would be of no concern to a lender. If you're constantly relying on an overdraft to get by then that's a very different matter, but the occasional transgression will have a very tiny, if any, effect on your credit-worthiness.

Barney_Rubble_0403

It's normally the close of the days play so wouldn't have any effect. If it's an authorised overdraft then again even if used it wouldn't count for anything.

If you were living in your overdraft then that would be a worry.

zharrt

I am with NatWest and if I forget I have something coming out, as long as I put money in by 3:30 that day it's fine and I don't even have an overdraft!

themorganator4

Ok I had a feeling that may have been the case, i was livng in my overdraft until recently (used to dip in it every month just before I was paid)

spadoosh

This stuff baffles me.

We got a mortgage when both of us had £2000 overdrafts maxed out and had been for a few years, it just didnt get mentioned.

Ben8282

themorganator4 wrote: »

Hi guys, i am trying to avoid using my overdraft as I am saving up for a mortgage so trying to keep my credit report in shape.

One of the tactics I am using is by avoiding using my overdraft however, just today I went in it for about 10 seconds then topped up the account to take me out of it.

Will this go on my report or was it too quick to even register?

It will only appear on your credit report if the bank happened to make their monthly reporting of the account within those 10 seconds.

[Deleted User]

There's worse things that can happen in 10 seconds.

This isn't one of them

phillw

themorganator4 wrote: »

One of the tactics I am using is by avoiding using my overdraft however, just today I went in it for about 10 seconds then topped up the account to take me out of it.

In what way did you go in it for 10 seconds?

If you made a payment in a shop and then transferred the money in 10 seconds later then your bank might not even have cleared the initial transaction.

If you waited until a text message from your bank to tell you that you were overdrawn then it was probably more than 10 seconds. As long as they sent it, you received and acted on it within the same business day then you're fine. I've gotten away without paying overdraft fees even after rectifying after their published cut off time, although I wouldn't recommend this.