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Overdraft to help credit file?

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dane1986

dane1986 Posts: 20 Forumite

30 December 2018 at 12:40PM in Credit file & ratings

Hey guys, Iv been rebuilding my credit rating over the last 12 months so I can finally get on the property ladder. The bank gave finanlly offered me a the chance of a overdraft starting at £100. Am I wise to take to take this to help improve further, or is it not worth it. Thanks.

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Comments

jimbo26 Posts: 954 Forumite

30 December 2018 at 12:52PM

Any form of lending will be a plus, but don't incur charges using it.

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welly_59 Posts: 315 Forumite

30 December 2018 at 12:57PM

Take the overdraft but don't use it. Saying that though overdrafts can be very tempting!

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[Deleted User] Posts: 0 Newbie

30 December 2018 at 1:06PM

An overdraft shows to lenders that you potentially can’t leave by your current means.

If you do take it don’t use it.

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dane1986 Posts: 20 Forumite

30 December 2018 at 1:59PM

I don’t need the money or the overdraft, so would it be a good idea to take it but not to use it?

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jimbo26 Posts: 954 Forumite

30 December 2018 at 2:07PM

yes it would

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[Deleted User] Posts: 0 Newbie

30 December 2018 at 2:19PM

Personally I wouldn’t.

But it’s down to you

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