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Overdraft to keep or not to keep?
Comments
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That's right although strangely phrased. The amount of the overdraft facility (credit limit in other words) is shown. They will only report the balance of the account, if negative, on the day of the month that they report to the CRA. If the account is in credit on the day they report to the CRA's the balance will be reported as 0. To avoid confusion, they will not report the amount of available funds in the account (although that could be calculated by deducting the negative balance from the amount of the overdraft facility) nor do they report positive balances..Halifax reports the overdraft and how much you have available, not just the outstanding part.0 -
Fair enough, I was lead to believe, by Experian (and I shouldn't have I guess) that only the overdrawn balance is shown. Mea culpa.0
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