Overdraft and credit rating

RollDeep

I have never ever dipped into my overdraft, however I may need to pay some large bills just before my pay day so I may have to dip into my overdraft (all be it just for a few days).

Will this show on my credit rating and will it effect my score?

YorkshireBoy

It depends on what day the bank reports the account status, or whether they report a 'worst case day' in the month.

With regard to your credit "score", and bearing in mind your other question on the credit card board, don't get hung up on a meaningless number provided tby the CRA. It's your credit 'history', ie the data contained within your CRA file, that's important...not some meaningless number or word such as 'average', 'excellent', 'wonderful', 'supa-doopa', etc provided by an organisation which does not lend money in return for payment.

MoneySaverLog

Dipping into OD for a day or two once in a blue moon will not affect your creditworthiness. Constantly using a OD will however as it shows consistently that you cannot live without it.

Agree totally with YorkshireBoy about any so called "Score" given by a CRA, they don't lend money and each lender has a scoring system of their own, based on the answers you put on their application form and "The DATA" returned from the CRA, NOT the CRA's score.

HTH