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Overdraft and credit rating
jkduser
Posts: 9 Forumite
Hi
Can someone tell me which is better for my credit rating:
Having and using an overdraft,
Having an overdraft and never using it
Not having an overfdraft
I have an overdraft which I am currently using. I am now in a position in which I no longer need to use it but I don't know if I should contact the bank and advise them to stop it?
Can you help?
Regards
Can someone tell me which is better for my credit rating:
Having and using an overdraft,
Having an overdraft and never using it
Not having an overfdraft
I have an overdraft which I am currently using. I am now in a position in which I no longer need to use it but I don't know if I should contact the bank and advise them to stop it?
Can you help?
Regards
0
Comments
-
The best would be having an overdraft and using it but NOT going above the agreed amount. The banks would like to see you using an overdraft as that means you are a person that needs money so banks/CC companies would be happy to offer you account/card. Just be careful not to exceed as that would bring you overdraft fee + bad rating.
Hope that helps.0
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