Halifax - Cancelling an overdraft

miamoo

I am just wondering if cancelling an overdraft would affect your credit rating?

grumbler

Unlikely unless the limit is very high or there are very few records in your credit history.
And even if it is, the effect can be either positive or negative depending on other factors.

jonesMUFCforever

If you have an overdraft facility but don't use it , it won't cost you anything.
Should you need to have an overdraft but Halifax say no what alternatives do you have? eg savings credit cards or loans?

In most cases I would leave the overdraft facility on in case of need - unless it is a huge facility in relation to what you normally pay in monthly don't worry about it.