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Cashplus Account overdraft?
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newuser78
Posts: 187 Forumite
Hi
I have a Cashplus account (with CreditBuilder) for nearly a year - I don't use it except to pay £5/month as part of credit building. I recently received a text message from them saying that I have been "approved" for a £100 overdraft.
Should I sign up and accept? Would this help further improve my credit rating? I will never use the overdraft but if it is "there" to make anybody happy, then so be it!
I have no other credit cards nor debts except for a smallish student loan and a standard Natwest Select current account.
Thanks! :beer:
I have a Cashplus account (with CreditBuilder) for nearly a year - I don't use it except to pay £5/month as part of credit building. I recently received a text message from them saying that I have been "approved" for a £100 overdraft.
Should I sign up and accept? Would this help further improve my credit rating? I will never use the overdraft but if it is "there" to make anybody happy, then so be it!
I have no other credit cards nor debts except for a smallish student loan and a standard Natwest Select current account.
Thanks! :beer:
0
Comments
-
Hi
I have a Cashplus account (with CreditBuilder) for nearly a year - I don't use it except to pay £5/month as part of credit building. I recently received a text message from them saying that I have been "approved" for a £100 overdraft.
Should I sign up and accept? Would this help further improve my credit rating? I will never use the overdraft but if it is "there" to make anybody happy, then so be it!
I have no other credit cards nor debts except for a smallish student loan and a standard Natwest Select current account.
Thanks! :beer:
It shows up on my report as a £100 overdraft on a current account. So looks good as no one sees the lenders name when searching your report.:beer:0 -
Thanks happy_bunny.
Does this mean that in terms of credit rating, a £100 overdraft is better than having no overdraft?0 -
I would say so.
It shows you gave obtained credit and if you don't use it, shows you use it responsibly.
Getting a high interest credit card and using it for food and paying in full is also a good way to build a good credit profile.:beer:0 -
That's great thanks. On reflection, I might just close this card and get a "proper" card.0
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