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Overdraft impact on credit score

crazyfrog90 · 2020-05-23 09:05:09

I have a very low credit score and I've been working hard for the last couple of years to increase it. I have just been accepted for an overdraft with my bank for £1,000. I was quite surprised I was accepted to be honest. I just want to know how this affects my score. Would it be best for me to never dip into it or would…

Comments

DCFC79 Posts: 40,642 Forumite

25 May 2020 at 1:36PM

crazyfrog90 said:

I don't understand why my score doesn't matter though? Can you explain? I assume it's because a potential lender would look at my history rather than the number? If this is the case, then why do we have a score at all?

The score is just a representation of your credit file.
If you look at the other agencies they all give you a different score.

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