I had an account that was overdrawn and closed. I made good on it, but now I need to know how long I have to wait to open another one.
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Each financial institution sets its own policy on how far back they look at negative reports from consumer reporting agencies. In general, negative information won't be reported for more than seven years, but a bank might consider information more than four years old is stale and won't hurt your chances of opening an account. If your old bank reported that you satisfied the overdraft, your chances of opening an account may be better.
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Each financial institution sets its own policy on how far back they look at negative reports from consumer reporting agencies. In general, negative information won't be reported for more than seven years, but a bank might consider information more than four years old is stale and won't hurt your chances of opening an account. If your old bank reported that you satisfied the overdraft, your chances of opening an account may be better.
