Will this give me bad credit?

Bad credit is kind of my biggest fear. I grew up with parents who had bad credit and I saw how hard things were for us financial as a result.

so here is my situation:I have had a checking account at bank A for about 3 years.Recently I have become unhappy with the service i was recieving after my debit card got stolen(ie: no one called me to report suspcious activity and left me to find out when my debit card got declined plus other things)so when i had had the last straw, i went and closed my account on a whim.I got a call from bank A saying i had two checks returned and also my gym membership was taken out so i overdrafted a significant amout. I realize this was all my fault, i just forgot. paying all the fees will be a pain, and i learn my grand total tomorrow. but im way more concerned if this will affect my credit. i was planning on getting a new (used) car in a few months plus i have school loans and such. so i was just wondering how this will affect my credit.

p.s. im only 19

Will this give me bad credit?

As of now you have nothing to worry about: bounced checks don%26#039;t get reported to credit bureaus unless the bank eventually gets a judgment against you for not paying the amount of your overdraft. Revolving credit card debt/loans/mortgage payments are what factor into credit ratings, not bounced checks....Just be sure to pay them off....You don%26#039;t want to mess with unpaid checks...If your name gets into the national bad check database....you%26#039;ll have a lot of trouble trying to open up new bank/checking accounts.

Will this give me bad credit?

Yes this will affect it. Credit scores are based on available credit and your debit ratio. Closing your bank account will lower your points. Also seeing how you overdrafted, it will lower your score; it kinda of shows that you don%26#039;t have the available funds to cover your expensives. Although I dont know what your score is, getting a car will probably be hard since your only 19, may want to ask your someone to co-sign with you, may help to lower the interest rate.

Will this give me bad credit?

As long as you pay all the fees and make the checks good, this shouldn%26#039;t effect your credit at all. Late payments aren%26#039;t reported to the credit agencies until they are at least 30 days overdue.