We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Barclays Premier Account - No Overdraft

Options
2»

Comments

  • HaveAGo
    HaveAGo Posts: 30 Forumite
    In my opinion having an overdraft and showing that you act responsible with it, IE using it rarely shows that you can be trusted more.

    But again I do not have the scorecards and maybe I am wrong.

    Using an overdraft is not seen as a positive when trying to build a credit history.
  • eskbanker
    eskbanker Posts: 37,134 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    HaveAGo wrote: »
    In my opinion having an overdraft and showing that you act responsible with it, IE using it rarely shows that you can be trusted more.

    But again I do not have the scorecards and maybe I am wrong.
    Using an overdraft is not seen as a positive when trying to build a credit history.
    The sentence is a victim of poor punctuation, as it can mean two entirely opposing things, depending on what the 'rarely' refers to!

    In my opinion having an overdraft and showing that you act responsible with it, IE using it, rarely shows that you can be trusted more.

    In my opinion having an overdraft and showing that you act responsible with it, IE using it rarely, shows that you can be trusted more.
  • As you've discovered this is Barclays policy, don't expect them to be able to change this policy to suit you.


    Have you considered applying for a credit card instead? This would provide you with an emergency cash facility roughly analogous to an overdraft, and has the added benefit of building credit. In the case of Barclaycard, you get a bimonthly Experian credit score for free, so you can track your progress.
    : )
  • Chrysalis
    Chrysalis Posts: 4,711 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    As stated the loan was purely as a credit building mechanism, as the credit cards I received before the loan was taken had incredibly low limits. (hovering around £250). I foolishly wanted a high value loan, to repay it, so that I would build confidence and my credit standing. Stupidly enough - one of the selling points that Amigo used was that this would build my credit history. Stupid me!

    M

    loans are not good for credit building, they count as 100% utilisation, and also not every loan is equal, payday loans are considered way down from even subprime cards.

    Best way to build a history is a get a subprime card, low limit doesnt matter, do some of your normal spending on the card, and pay it off in full each month, no interest, no costs at all, and you improve your credit worthyness.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.