Halifax overdraft

magpies79

so I’ve been reducing my overdraft pretty much every month for the last 5/6 months was at £1200 now at £550 will reduce it by another £50 I’ve been in it most months if I’m honest and have been using it for all the wrong reason.
 

I’m I best to keep doing this until it’s paid off completely or have some form of overdraft I’m of the opinion I’ll just keep using it likes it my money so get rid completely but does having a overdraft available help credit history wise.

Hoenir

Pay it off. Once it's gone. Use the money to start tackling your other debts. There's 0% accounts might not remain interest free indefinately. 

magpies79

Yeah that’s my thinking well can hopefully start paying more to the cards that are gaining interest 
as well.

And yeah definitely all on plans to clear before 0% ends just need to keep sticking at it.

Mr.Generous

I got a text from Halifax saying my overdraft interest charge is going up to 49.99% - almost anything else would be cheaper. Pay it off.

magpies79

Wow I’ve not had that but I know they are expensive ways of borrowing money now.

Funny thing is I’ve been in and out of it for the last year so knew I needed to sort it plus they always text saying maybe reduce your overdraft to reduce charges.
now I’m getting texts saying I can increase my overdraft back to £1,200 if I want think they’d love me to undo all my hard work lol.