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Co- Op Overdraft
loveandlight
Posts: 1,200 Forumite
Hi guys,
I have a £2k overdraft with the Co-Op that expires every year and I have to re-apply to renew it and have done so for the past few years. This year I applied and they refused to renew saying my payments into the account are erratic (its not my main account and they know that) and also they say I appear to be relying on my overdraft.
I have always stayed within limit and have cleared my overdraft numerous times and my financial situation is the same as before.
They have suggested phasing my overdraft down to £300 which is the account standard overdraft limit by me paying so much every month. If I agree to this will it affect my credit rating?
They said it won't but I don't trust them.
I have a £2k overdraft with the Co-Op that expires every year and I have to re-apply to renew it and have done so for the past few years. This year I applied and they refused to renew saying my payments into the account are erratic (its not my main account and they know that) and also they say I appear to be relying on my overdraft.
I have always stayed within limit and have cleared my overdraft numerous times and my financial situation is the same as before.
They have suggested phasing my overdraft down to £300 which is the account standard overdraft limit by me paying so much every month. If I agree to this will it affect my credit rating?
They said it won't but I don't trust them.
0
Comments
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Reducing your overdraft (both balance and facility) will not affect your credit rating in any way.0
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