Natwest reducing my overdraft?

onlyfoolsandparking

No cost, just fill in a form giving reason/s I want to keep it, my question still stands though should I keep it OR just take the reduction? That particular account doesn't even show on any of the CRA's as its too old and even if it did I know (think?) unless I use the facility it doesn't show on CRA's, I am still wondering though if there is any benefit for future credit worthiness by keeping the limit, I suspect not but I welcome other peoples opinions.

onlyfoolsandparking

jackjones01 said:

Overdrafts are repayable on demand so be grateful they aren’t pulling the plug on it all together. 

I'm very familiar with how overdrafts work having had one for many years but why would I need to be grateful for them not pulling the plug altogether on something I don't use or need?

jackjones01

onlyfoolsandparking said:

jackjones01 said:

Overdrafts are repayable on demand so be grateful they aren’t pulling the plug on it all together. 

I'm very familiar with how overdrafts work having had one for many years but why would I need to be grateful for them not pulling the plug altogether on something I don't use or need?

If you don’t need or use it why you asking the question? 

onlyfoolsandparking

jackjones01 said:

onlyfoolsandparking said:

jackjones01 said:

Overdrafts are repayable on demand so be grateful they aren’t pulling the plug on it all together. 

I'm very familiar with how overdrafts work having had one for many years but why would I need to be grateful for them not pulling the plug altogether on something I don't use or need?

If you don’t need or use it why you asking the question? 

Have you actually read my OP? 

knack92

onlyfoolsandparking said:

No cost, just fill in a form giving reason/s I want to keep it, my question still stands though should I keep it OR just take the reduction? That particular account doesn't even show on any of the CRA's as its too old and even if it did I know (think?) unless I use the facility it doesn't show on CRA's, I am still wondering though if there is any benefit for future credit worthiness by keeping the limit, I suspect not but I welcome other peoples opinions.

I expect the NatWest form will be the same as the Royal Bank one which does not ask for a reason. 

onlyfoolsandparking

knack92 said:

onlyfoolsandparking said:

No cost, just fill in a form giving reason/s I want to keep it, my question still stands though should I keep it OR just take the reduction? That particular account doesn't even show on any of the CRA's as its too old and even if it did I know (think?) unless I use the facility it doesn't show on CRA's, I am still wondering though if there is any benefit for future credit worthiness by keeping the limit, I suspect not but I welcome other peoples opinions.

I expect the NatWest form will be the same as the Royal Bank one which does not ask for a reason. 

That's interesting and as they are in the same group I suspect your right, do you say that because you have filled in the form having received the 'We're reducing your overdraft' letter or something similar?  

knack92

onlyfoolsandparking said:

knack92 said:

onlyfoolsandparking said:

No cost, just fill in a form giving reason/s I want to keep it, my question still stands though should I keep it OR just take the reduction? That particular account doesn't even show on any of the CRA's as its too old and even if it did I know (think?) unless I use the facility it doesn't show on CRA's, I am still wondering though if there is any benefit for future credit worthiness by keeping the limit, I suspect not but I welcome other peoples opinions.

I expect the NatWest form will be the same as the Royal Bank one which does not ask for a reason. 

That's interesting and as they are in the same group I suspect your right, do you say that because you have filled in the form having received the 'We're reducing your overdraft' letter or something similar?  

Yes I received the letter and filled in the form. I don’t foresee having to use the overdraft but my current limit is such that it would cover me if my emergency fund was used up. Their proposed limit was a bit low for this purpose. 

onlyfoolsandparking

knack92 said:

onlyfoolsandparking said:

knack92 said:

onlyfoolsandparking said:

No cost, just fill in a form giving reason/s I want to keep it, my question still stands though should I keep it OR just take the reduction? That particular account doesn't even show on any of the CRA's as its too old and even if it did I know (think?) unless I use the facility it doesn't show on CRA's, I am still wondering though if there is any benefit for future credit worthiness by keeping the limit, I suspect not but I welcome other peoples opinions.

I expect the NatWest form will be the same as the Royal Bank one which does not ask for a reason. 

That's interesting and as they are in the same group I suspect your right, do you say that because you have filled in the form having received the 'We're reducing your overdraft' letter or something similar?  

Yes I received the letter and filled in the form. I don’t foresee having to use the overdraft but my current limit is such that it would cover me if my emergency fund was used up. Their proposed limit was a bit low for this purpose. 

That's my thinking too, I don't foresee using it but one never knows and having had the 5K limit for many years I like having that limit and just wondered (overthinking more like lol) why they are reducing it. Can only conclude as I haven't used it for years the letter has been auto-generated but they have given me the choice at least to keep it and as one poster said it's nothing personal, appreciate your reply.