Using overdrafts to improve credit score

Moggles_2

Credit_Newbie wrote: »

Currently, the current account in question isn’t really used, so balance is generally around £0 but always in the black. As a result, on my credit reports the account shows as N “facility not used”. If I were to go overdrawn for a brief period once a month, for example buy a CD then transfer the funds into the account 2 days later, I assume the reports would then indicate 0 “Payment received on time”.
Would this look better on my credit reports?

If the bank that holds your main current account (the one to which your salary is paid) already reports to the credit reference agencies, the use of an additional current account with another bank would not improve your credit score, IMO.

YorkshireBoy

Credit_Newbie wrote: »

Hi all,

Thank you for all the responses, unfortunately I think my point may have been slightly misunderstood.

Currently the current account in question isn’t really used so balance is generally around £0 but always in the black, as a result on my credit reports the account shows as N “facility not used”.

My question is, if I were to go overdrawn for a brief period once a month, for example buy a CD then transfer the funds into the account 2 days later, I assume the reports would then indicate 0 “Payment received on time”.

Would this look better on my credit reports?

Thank you for your views

Long question(!), but fortunately a very short answer...no!

heloid

To avoid the N's, just transfer money in and out of them (activity). No need for going overdrawn.