Reducing Overdraft Amount Granted to improve credit rating?

Yorkshire_Pud

I have a lot of current accounts with agreed overdrafts that I have as a buffer zone rather than to use.

Recently I have opened two current accounts where I have been refused an overdraft.

Just had a look at my Nationwide accounts and saw I had a £4000 overdraft facility on a FlexAccount:eek:

I reduced it online to £50.

Will that improve my credit rating/likely acceptance for future overdrafts and how does that info get from Nationwide to the CRA? Is there an automatic update from banks and building societies to CRA's or would the CRA still think I had £4000 OD?:(

grumbler

Banks report to CRA(s) about once a month.
Overdraft limit is no different from a CC limit and similarly can affect credit scoring both ways as it decreases (used)/(available) ratio, but increases (available)/(income) one. It's believed that, ideally, both ratios have to be below 50%.