overdraft line of credit

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brianwillson
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Subject: overdraft line of credit

Fri Dec 30, 2011 6:12 am

I am paying down some debt to better my debt to income ratio. How important is it to pay down the overdraft credit line I have with my checking acct? Or should I focus on credit cards.thanks

Brian

sallynachelle

Joined: 10 Jun 2011
sallynachelle's page
Posts: 164

1160 Magic Points

Subject: overdraft line of credit

Fri Dec 30, 2011 10:01 am

It’s always better to repay your debt asap. Always try to make payments on time. Late payments hurt your credit score. If you have any credit card debt, then try to pay it off immediately.

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889

1356 Magic Points

Subject: credit

Mon Jan 02, 2012 5:50 pm

When it comes to bank accounts, you should pay the overdraft fees as soon as you can. Is your bank account in the 'negative' because of the overdrafts? That hurts your credit (in a way), too. The bank can actually document your overdrafts and deny you a bank account of any kind.

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