We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Overdraft
elle_may
Posts: 413 Forumite
Just had a letter from bank they are reducing my overdraft, after a review, from a high to lower one because i don't use it. Had this for a number of years and never had it reduced before.
Does this have any impact with other lender's or credit agency's or indeed with my own bank. I have very good CC limit's.
Does this have any impact with other lender's or credit agency's or indeed with my own bank. I have very good CC limit's.
0
Comments
-
With big CC limits reduction in some overdraft limit will hardly make any difference. And, if you don't carry balances on your CCs, the difference, if any, can be positive only.0
-
No this won't be negative because your overall available credit has reduced. Some banks review overdrafts annually. I sometimes use my overdrafts for just a day just to keep it 'active' as I want the emergency facility.0
-
Granting facilities does cost banks money indirectly. Reducing used ones is prudent. Has no impact on you what so ever.0
-
Thrugelmir wrote: »Granting facilities does cost banks money indirectly. Reducing used ones is prudent. Has no impact on you what so ever.
Did you mean unused?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards