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Do TD Bank checking/savings debit cards affect your credit score in any way? What if they are linked with a parent's account?
January 30, 2015 07:14:45 PM
Borrowing & Managing Your Credit
1 person recommended this |
In reply to Thomas, Brooklyn
Thanks for getting in touch with us about this, Thomas. We'll be happy to clarify your question.
We'd like to let you know that any activity associated with a TD Bank deposit account, such as a checking or savings account, would not be reported to credit bureaus. If an account such as these becomes closed due to a balance owed, keep in mind that this information would be reported to ChexSystems, which can affect the ability of the account owners to open other banking accounts at TD Bank or with other financial institutions.
We'd also like to let you know that if a deposit account with us remains overdrawn for some time, the Bank reserves the right to withdraw these funds from another TD account of any signer to collect on the debt. You may find more information about this in our Deposit Account Agreement here: http://bit.ly/1kb17UQ on pages 20-21.
If a loan account is sent to collections, please keep in mind that this information would be reported to credit bureaus as appropriate and would involve all account signers.
If you should have any questions regarding this or need assistance with an overdrawn or charged-off account, you may reach our Recovery Department directly at 800-354-9769 between the hours of 8 am and 9 pm Monday through Friday, and Saturday 8 am to 5 pm. We're also available whenever you need us at 888-751-9000, 24/7, or at any TD Bank Store here: http://bit.ly/TDStores.
Hope this answers your question, Thomas! All the best to you and have a good night.
Kristen P, Mount Laurel
January 30, 2015 07:17:28 PM