Sort of stoozing - 0% overdraft vs credit score?

3nt0

I have a current account with £500 overdraft at 0% interest for 3 years. I'm currently debating whether to put the £500 in a savings account. Theoretically, this will increase my credit utilisation, but could look bad on my credit report due to having a long-term unpaid debt.

I probably don't need the extra money from a savings account (about £35pa at best, whereas I'll be looking at getting a mortgage in the next few years, so obviously will cost me more than that in the long term if it affects my credit report), but obviously money is money. Any advice?

MorningcoffeeIV

Stay out of your OD. 

Whether or not if affects your fake credit score is irrelevant  - it's a terrible look to live in your OD. Plus, it can be called in at any time.

Money is indeed money, so look after it in the long term, not the short term.

surreysaver

MorningcoffeeIV said:

Stay out of your OD. 

Whether or not if affects your fake credit score is irrelevant  - it's a terrible look to live in your OD. Plus, it can be called in at any time.

Money is indeed money, so look after it in the long term, not the short term.

Why? This is the Stoozing forum, where people borrow at 0% to earn interest 

MorningcoffeeIV

surreysaver said:

MorningcoffeeIV said:

Stay out of your OD. 

Whether or not if affects your fake credit score is irrelevant  - it's a terrible look to live in your OD. Plus, it can be called in at any time.

Money is indeed money, so look after it in the long term, not the short term.

Why? This is the Stoozing forum, where people borrow at 0% to earn interest 

Because the OP was asking about impact on credit files.

There are more effective, more profitable and less detrimental ways to stooze.

Have a look at 0% credit cards for example. There are lots of threads on this forum about how you can use them to stooze.

surreysaver

MorningcoffeeIV said:

surreysaver said:

MorningcoffeeIV said:

Stay out of your OD. 

Whether or not if affects your fake credit score is irrelevant  - it's a terrible look to live in your OD. Plus, it can be called in at any time.

Money is indeed money, so look after it in the long term, not the short term.

Why? This is the Stoozing forum, where people borrow at 0% to earn interest 

Because the OP was asking about impact on credit files.

There are more effective, more profitable and less detrimental ways to stooze.

Have a look at 0% credit cards for example. There are lots of threads on this forum about how you can use them to stooze.

I dunno. I've got 0% overdrafts that I utilise, and I keep getting my credit card providers increasing my limits and offering me 0% balance transfers, so from my point of view it doesn't seem to make a difference