Credit utilisation

Chocs_Mum

Hi there,

I've just had my Experian credit profile email. Its dropped slightly due to account stability, which I understand isn't much of an issue. My credit utilisation has always been orange. Everything else is green across the board.

I have a £100 overdraft on my current account and my husband and I have a £1000 overdraft on our joint account, which is our bills/mortgage account. I haven't had a credit card for about 20 years.

Is my credit utilisation orange due to the overdrafts or is it lack of credit utilisation that's pulling my score down? If so I'll apply for a credit card to use/pay off each month but I don't know which one. The report gives me a 90% chance success for balance transfer and bad credit cards or a 50% chance of a 0% spending card. I was going to apply for the current existing customer card for Natwest but I've just noticed the minimum annual income is £10K and I earn half of that!

Any advice would be appreciated.

DCFC79

Don't worry about a number that only you can see, your history is whats important.

[Deleted User]

As long as you're not using the ODs, it's not an issue.

Any credit card will help build history, but you'll be hampered in any credit application by your income.

Try a sub prime provider.

Chocs_Mum

We're using the overdrafts

Chocs_Mum

Ahh, so it's unlikely I'll be accepted because of my low income. Ok, not worth applying then. Thanks for the advice.

Malkytheheed

Please try and get out of the OD. 40% is an insane amount to be paying.

Chocs_Mum

Ok, thank you.