Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
|
If say you have 3 accounts with the same bank, one used for day to spending etc but always in the overdraft, once used for bills but always in credit and one a savings account saving £400 a month with £1000 plus in the account; would the one in the overdraft effect your credit rating?
I asked the guy who sold me the savings account a few months back but he didn't seem to know 
|
Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
|
Yeah, but dont forget mate, credit rating is to the person not the specific account, to be honest though, being in an overdraft doesnt really effect your credit rating that much, its only if you go over it things start to go pear shaped
|
--Dave--
Banned
Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline
|
it would be based on how you manage all 3 as far as I know and how you deal with your finances in general.
|
shawboy
Member
Registered: 1st Jul 02
Location: Wombwell, Barnsley
User status: Offline
|
an overdraft dont affect your credit as long as you keep in the terms of it.
|
Sooty
Banned
Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline
|
actually it sometimes can work to your benefit
|
DarkBahamut
Member
Registered: 4th Jun 06
Location: Cambridge, Cambridgeshire
User status: Offline
|
quote:
Originally posted by Sooty
actually it sometimes can work to your benefit
To some degree yes. It can work to your benefit because it can help build up your credit score faster since the fastest way to build up your credit score is to have some form of credit and prove you can keep within the terms/repayment/etc. Most credit/loans/etc wont hurt your credit at all unless you miss payments or break the terms.
To be honest though an overdraft wont effect it much in either direction really. Its things like personal loans that really build up your credit score (or kill it if you mess things up).
As long as you can prove you have enough money to pay for any credit, then having an overdraft or being in one wont really stop you getting said credit in the future.
[Edited on 06-09-2006 by DarkBahamut]
|
Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
|
|
ChrisD16v
Member
Registered: 16th Jun 04
Location: Chester, Cheshire
User status: Offline
|
check your credit rating at experian.com
|
Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
|
Your score is: 945 on a scale of 0-1000
|
Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
|
 Pug Nut you could get anything with a score like that, think mine is about 700 odd and steadily improving after serious abuse at the age of 18.
|
Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
|
Does it start off at 1000?
Was a gas and Next bill i never paid on time, and aria.co.uk won't let me buy stuff no more as i tried to order some stuff when i never had enough in the bank 
|
