How does NSF (No Sufficient Funds) check affect credit history?

[kyu010170]

Hi guys,

I have two checking accounts at TD Bank - one in Canadian and the other in US currency. I maintain a good amount of balance in the Canadian account, but keep my US account at a little above zero. The reason being that my US account does not earn any interest.

What I normally do is transfer over online the necessary funds from my Canadian to my US whenever I issue any US checks. And I've done this over the last few years with no problem whatsoever.

Now, I made a mistake last week in that I forgot to fund my US checking account after I issued a US denominated check. Naturally, the check bounced. I only found out this happened this morning.

I immediately paid the NSF fee of $39. But I am deeply concerned how this affects my credit. I do have a few cards on which I've made timely payments over the last few years. I am thinking, though, about getting a mortgage next year.

Pleaase advise.

Thank you.

 

[SenoritaBella]

It's no big deal but don't make a habit of it. Consider leaving more money in the account to be on the safe side.

 

[thor]

one time is ok, too much is not good

 

[Mike_Thompson]

NSF has zero affect on your credit. It only has an internal issue with the bank which your account is with. Your accounts have ratings internally. For example, you can be pre-qualified for credit based on your account history/transactions without the bank checking your credit. An NSF does nothing but multiple NSFs would make you seem as a risk for some credit facilities. If you pay all of them, you'd seem like a good client since you'd pay such ridiculous amounts of money for something like that happening. Don't sweat it.

 

[Beng99]

Any updates on what happened? I am currently going through the exact same experience but about 5 times worse. Worst mess up of my life.

How badly was your credit score affected?