I always struggle with credit, why?

Strummer22

PJP1988 wrote: »

I am in my over draft and have money on the credit card, but I've been under the impression this is good as it shows that I pay it every month. it isn't a substantial amount so its not a problem to clear it.

Apart from that I'm honestly lost, hence why i'm on here asking for advice!

Being in your overdraft is seen a lot less favourably than having a balance on a credit card. Clear the overdraft first.

Also, credit files contain no info on your income, but you're asked for this when applying for credit. Depending how your income compares to your unsecured debts (credit card, car, overdraft) lenders may not see you favourably.

27col

Being in your overdraft permanently would indicate to some lenders that you are struggling financially on a regular basis, and that your outgoings are more than your income.
Without knowing more details it sounds as if you already have quite enough credit.
If you have enough spare cash to service another loan then what is happening to that cash. Are you saving it?

Ben8282

You already seem to have everything so what exactly is it that you keep having trouble getting?
The high APR offered for the loan was due to the high credit card balances, high car finance balances, mortgage and especially the fact that you are overdrawn every month.
I suggest that you do 'clear it' as you suggest. Whoever gave you the advice that being overdrawn every month was good gave you bad advice. Being overdrawn every month can never be good.
Same with the balances.
Make a very substantial repayment, stop using your overdraft and see the result.