Does a Divorce hurt your credit score?

[Jade]

Indenial and Jade thank you both for the information.  My debit card is also a Visa Card, so I do use it for credit also.  I will figure this all out soon enough.  TG

There is a disconnect somewhere.  Your debit card takes money directly from your checking/savings account, even when used as a Visa card.  It is not drawing on a "line of credit' that needs to be paid back. 

It's not going to have an impact on your credit rating at all.  Only actual debt will. 

[Wolfy]

There is an advantage to the debit card. It takes from your checking account and will not let you overdraw. Since you are not overdrawing on your accounts, it does help your credit report. Not being late or past due on debts will help quite a bit in making your credit score better. It may not put it on the roof but many people going through a divorce are just scraping by and to give them a credit card which can easily draw them to buying more than they can afford is not going to help their credit score either.

[TC]

Indenial and Jade thank you both for the information.  My debit card is also a Visa Card, so I do use it for credit also.  I will figure this all out soon enough.  TG

There is a disconnect somewhere.  Your debit card takes money directly from your checking/savings account, even when used as a Visa card.  It is not drawing on a "line of credit' that needs to be paid back. 

It's not going to have an impact on your credit rating at all.  Only actual debt will. 

Jade is right on this one TG.  I use a debit card that is also a Visa card.  Doesn't affect my credit rating a bit.

TC

[Cam]

Be careful with you debit card on the weekends.  Here whatever you withdraw isn't recorded until Monday morning and by then you can be overdrawn.   Especially bad here are the ATM's and the gas stations pumps.   

[livealittle]

There is an advantage to the debit card. It takes from your checking account and will not let you overdraw. Since you are not overdrawing on your accounts, it does help your credit report. Not being late or past due on debts will help quite a bit in making your credit score better. It may not put it on the roof but many people going through a divorce are just scraping by and to give them a credit card which can easily draw them to buying more than they can afford is not going to help their credit score either.

this is incorrect Wolfy. if you draw out more than is available in your checking account it will 'let you overdraw" and you will be charged bounced check fees. Your debit card is basically an electronic check.


Your credit score is an "i love debt score" the more you charge and pay back on time the higher it goes. If you don't ever charge anything, you don't have a credit score.

[silly dreamer]

My account has an option of allowing overdraws or not. They will assign you an overdraw protection amount that you can go over. But any and every time you go .01 over it's a whopper fee. I chose not to allow them... I'd rather be declined in the store as to pay fees that I obviously don't have to begin with.

[pp13]

Indenial and Jade thank you both for the information.  My debit card is also a Visa Card, so I do use it for credit also.  I will figure this all out soon enough.  TG

still not the same.  You need a "credit card"... not a "debit/credit" card.

http://banking.about.com/od/checkingaccounts/g/debitcard.htm