Overdraft on my credit score why?

jbr9135787

Hi Guys
I just wanted to ask for some advice. I have recieved my credit score report and on there is two debts, one from a catologue and the other is my present bank Natwest. I have a overdraft limit of £400.00 which now i live in because i came out of work due to an accident i had while there. I have tried to change bank but some unknown reason even though i have been told i have a very good credit rating, i have been turned down by Santander and Barclays bank. Barclays i opened an account with them two weeks ago, i made them aware i use to have an account with them and are paying back £1.00 per month. They said it would be no problem, they did a check and said yes ive got a excellent credit score and they went ahead with opeing me an account and set up pin numbers to be sent to my home. I collected my pin and card and went down to my local banch to find they have closed my account, no reason. I escalated my complaint but still no real desision why they closed it.

Can Natwest put the overdraft limit which i still use on my credit score?
Is it because I owe Natwest (my overdraft) why i am being turned down for another account?

I am due back to the CAB next week...

BugsyBrowne

You are a very high risk you also don't have an excellent credit rating as you only have a bank account and a catalogue.

And for Barclays telling you that you've got this amazing credit rating are feeding you bulls*it.

You are turned down as you are a high risk.

Check your credit files.

withabix

jbr9135787 wrote: »

Can Natwest put the overdraft limit which i still use on my credit score?

Of course they can.

An overdraft is revolving credit - ie a loan.

Why do you think it shouldn't be recorded with Credit Reference Agencies?

DCFC79

Yes i believe if your in overdraft then its shown on your credit file. its a true reflection of your situation re living in your overdraft.

InsideInsurance

Living in an overdraft is hated by many financial institutions.

Not recommending it for your circumstances but most would rather see you have a £400 loan and never go into your overdraft than see you live in your overdraft and have no loan.

Of cause banks only update the credit reference agencies once a month and normally on the same day each month (plus or minus a couple due to weekends/ bank holidays). As long as your not in the overdraft on the day the data is pulled your record with the CRA will look good.

BASFORDLAD

Why on earth are you going to CAB......?