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Do cabs take credit cards or debit cards?

Do debit cards go towards your credit history?

  • I've never had an actual credit card before. I've never used checks either. I've only used my debit card from TCF Bank to make purchases. I'm just wondering if that goes towards my credit score / history? Or does that only count for credit cards? PS: I'm aware that you can use a debit card as credit. I used my debit card as debit for the first year. But for the past 7 months I've been using it as credit. Even though I use it as credit it doesn't exactly work as a credit card does... What I mean is, there's no bill to pay at the end of the month. The money is taken directly out of my checking account at TCF. But does it still go towards my credit score / history? I'm asking this because I'm worried about something that happened recently. I overdrafted 6 times and ended up with a balance of -$210. It was the banks fault though, and I was told I would be completely reimbursed of the $210. They didn't give me everything though, and I still had a balance of -$11. I decided to just pay it off because TCF sucks and I didn't want them to screw up my account even more. After I payed off the $11 I immediately closed my account. Is this going to have a bad effect on my credit score?

  • Answer:

    Debit card use does not affect your credit score, even if you overdraw your account. And that's true regardless of whether you use the card for PIN transactions (as a debit card) or for signature transactions (as a credit card). Debit cards do not extend credit to you, so they have no impact on your credit history. With that said, there are still a few things to consider. First, if you overdraw your account and don't pay the bank back, this debt could eventually end up in your credit file. Second, over-drawing your account could result in the bank reporting you to ChexSystems, which is similar to a credit agency, but used by banks to identify people who don't handle checking accounts well. The result could be that you are unable to qualify for a bank account. Finally, there are some prepaid credit cards that offer features that help you build credit. I mention this even though it doesn't sound like it's the focus of your question.

Kai at Yahoo! Answers Visit the source

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no even if you use a debit card on credit it doesn't afect your credit history because your still only using your own money not the banks so i'm sure your credit history is fine

Generally a debit card is reported as a credit card. Banks do not report that your account was negative as long as it didn't go into collections and account closed by the bank. Normally your balance isn't even reported, and even if it was, they'd report it as a zero figure at the end of the billing cycle. You don't need to worry about it.

thekanuck

Yes, they affect your credit. For example if you have automatic payments set up through your debit card but they don't go through (or you don't have enough money on your account), that will go towards your credit.

Jason Alexander

Only if your bank account defaults and gets turned over to a collection agency, then it can affect your credit rating...As long as you paid off your account, then you're fine and it won't affect your credit rating.

CatDad

Having an overdrafted account and having overdraft fees does negatively effect your credit history. It may not effect it as much if it was actually the bank's fault.

jokerhawk

Use have simply used a debit card as a credit card. It won't go one i ota toward a credit score. I am glad you paid the $11. That would have went against you negatively.

Randy

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