Do you have savings in Barclays and use an overdraft?

gazza975526570

Im intrigued by something and wonder if someone who banks with Barclays would know.

If you have an overdraft and suppose you where £1000 in your overdraft. Then they have linked online savings accounts. Say in here you had a £2000 credit.

What would this look like on your credit report - would it show as a £1000 you owe or would it show your account in credit by £1000?

cifpower

Do savings accounts show on credit reports whether linked or not?

CLAPTON

saving accounts don't show on credit reports
so your credit report would show you using 1000 of OD each month and so most lenders would see you as a poor risk
presumably also the OD is costing your more in interest/charges than you earn on the savings a/c

Svenena

I have a current account with Barclays and often go a few quid into my overdraft. I also have 3 of their online savings accounts, and an ISA, with a couple of thousand quid between them, all show on my online banking. When I checked my credit reports (in December), it showed the small minus figure from the overdraft.

So I can confirm only the current account is shown.

p1nkk1tten

I've never banked with Barclays however only the current account will show on your credit report so therefore it gives a bad impression. I would compare what you are getting on your savings to what your paying on your o/d and it will probably b worth moving the £1k savings into your current account to keep that in credit, but keep your o/d if you need it in future for emergencies.

EDIT: I've just seen that your o/d and savings are linked so I assume you pay nothing for the £1k o/d but only get interest on the £1k of savings so therefore the only difference keeping the savings in savings would be the impression it makes on your credit file, so if your looking for further credit, I would keep the current account in credit while applying for the credit.

gazza975526570

Hi all - thanks for your comments.

The potential problem re impact on credit report isnt an issue to me currently based on recent applications etc. Having said that, the example ive given isnt a true one as im simplifying matters - i literally wanted to know how that scenario would appear on a credit note. The consensus is £1000 into O/D.

Thanks all.