Does being in your overdraft affect your credit rating

BrookesAndrew

If you have an arranged overdraft, will it affect your credit rating if you go into it? Say if you have an overdraft of £500 and you go into it and stay into for a few weeks will that have a negative effect when applying for credit?

Thanks,
Andrew

[Deleted User]

You don't have a universal credit rating. It depends how lenders will see you and that will vary.

But it's safe to say you'd do better to stay out of your overdraft if at all possible.

Nebulous2

Going into it on an occasional basis probably wont have much impact. Living in it at the end of every month looks like your finances are very close to the edge.