Unusual situation- your thoughts?

nick_28

Hello,

First I'd like to thank all the members of the MSE forums for the very useful information shared here- makes for some very interesting reading!

I have a couple of questions that I was not able to find answers for searching previous posts, so I thought I would sign up and ask- any advice or information would be much appreciated!

My situation is maybe a little different to most, but I'm sure I'm not the only one- I left the UK in 2008 and have since been working and traveling overseas. A combination of tourist and working holiday visas has kept me away from the UK for approaching 5 years and I'm beginning to wonder how this may be affecting my credit score.

I hold bank accounts in other countries, however I still actively bank with Halifax in the UK with which I hold a current account with an arranged overdraft and a single credit card. Both the credit card and overdraft are used occasionally (usually to take advantage of exchange rates) and are always repaid with funds from overseas accounts.

Specifically, I would like to know more about how the following may affect my credit score:
No consistent salary paid into Halifax account for 5 years.
Lots of available credit- the Halifax overdraft is £5000 and the credit card £7000- I used to think this was a good thing. I interpreted the bank automatically increasing the limit as a sign my credit rating must be good however having read that too much available credit (I have never been close to the limit on either OD or CC) has a negative effect on a credit rating?
Other inaccuracies on my credit file- contact details? I'm sure I am not on the electoral roll, occupation? I may appear to be still living with my parents?
Overseas address on record with Halifax- how is this viewed by lenders? I currently do not have residency status in any country other than the UK but for all intents and purposes I 'live' abroad for now.

That should be enough to get the ball rolling! I understand I could simply check my credit file, however I would like to avoid leaving that footprint for the sake of satisfying a curiosity- I do not intend to apply for any credit in the immediate future. Again, I'm grateful for any advice and thanks in advance for your time.

Nick

National_Debtline

Good morning, Nick. I'll try my best for you!

nick_28 wrote: »

Specifically, I would like to know more about how the following may affect my credit score:
No consistent salary paid into Halifax account for 5 years.
Lots of available credit- the Halifax overdraft is £5000 and the credit card £7000- I used to think this was a good thing. I interpreted the bank automatically increasing the limit as a sign my credit rating must be good however having read that too much available credit (I have never been close to the limit on either OD or CC) has a negative effect on a credit rating?

Your credit limits would be considered within your credit score - but also the amount of that actual credit that you are using. If you only use a small amount of the total amount available that could be positive thing.

Other inaccuracies on my credit file- contact details? I'm sure I am not on the electoral roll, occupation? I may appear to be still living with my parents?

Not being on the electoral roll will have an impact. If you have been registered at your parents' address for a while that may actually be positive - as according to the file at least, you haven't been moving around.

Overseas address on record with Halifax- how is this viewed by lenders? I currently do not have residency status in any country other than the UK but for all intents and purposes I 'live' abroad for now.

That's a great question, I'm not sure of the definitive answer - however I would imagine having an overseas address would impact your ability to source credit. I know if I was a lender I would be pretty cautious in that regard.

Hope this helps!

David @ NDL.