We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Agreed overdraft, does it show on credit report?
Bufger
Posts: 1,857 Forumite
As a student I got switched to a student account with HSBC where I had a £1000 interest free overdraft. I occasionally went anywhere up to £400 overdrawn but my wages for that month always got me back out and then it wouldnt happen for a while..
2 years ago i did a credit check before getting a mortgage and none of this came up, i achieved the highest credit score on those unreliable sites but i know i have never defaulted.
4 years ago i graduated and as no longer a student they reduced my interest free overdraft to £750 (which is still very good). I hadnt even dipped into this in the first 2 years but then we got married, had a child and went down to one income for a couple of months which meant I was regularly into my overdraft (up to but never exceeding £750) for a few months back to back. Cashflow is back to normal now.
My question is, does this show on your credit record? I wasnt sure if exceeding your limit makes a mark or entering it. Sorry if its a stupid question but an internet search didnt find the correct related answers.
Many thanks,
2 years ago i did a credit check before getting a mortgage and none of this came up, i achieved the highest credit score on those unreliable sites but i know i have never defaulted.
4 years ago i graduated and as no longer a student they reduced my interest free overdraft to £750 (which is still very good). I hadnt even dipped into this in the first 2 years but then we got married, had a child and went down to one income for a couple of months which meant I was regularly into my overdraft (up to but never exceeding £750) for a few months back to back. Cashflow is back to normal now.
My question is, does this show on your credit record? I wasnt sure if exceeding your limit makes a mark or entering it. Sorry if its a stupid question but an internet search didnt find the correct related answers.
Many thanks,
MFW - <£90k
All other debts cleared thanks to the knowledge gained from this wonderful website and its users!0
Comments
-
It all depends on what year it was setup, as pre 2004 they didnt have permission to shareDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards