Credit score of 513!!! I don't understand

CHR15

scooby75 wrote: »

I had an overdraft for which fees have wrongly been put on, and I have complained to the FOS, but the bank still registers missed payments each month on my credit file.

What do you mean, "missed payments each month?". It was an overdraft!

You don't make regular payments to an overdraft, you are either in it, over it or out of it with fees in accordance with the terms.

immoral_angeluk

It's also worth knowing that being in your overdraft every month is what lenders deem to be 'high risk' behaviour, because it suggests and inability to manage your finances. Thus if you are applying for finance being constantly in your overdraft will mean you are less likely to be accepted, especially if it's with your own bank.

Source: was told this by one of my bank's insurance underwriters when applying for a loan to finance my recent car, even though I don't have an overdraft facility. Think I got one of the chatty ones.. lol