Does using your overdraft impact your credit rating

Hey guys,

If you go Into your overdraft does this have any effect into your credit rating Thankyou

Short answer - yes.

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Longer answer - it’s complicated.

If you max your overdraft and stay there it will be something companies take into account as it shows possible financial difficulty. Using occasionally or having as a safety net - no.

Monzo blog link

This link is useful


I wonder what day of the month Monzo logs your balance and submits to CRAs?

Since Monzo is modern ideally they’d do it every day, but as far as I know CRAs only allow one update per month.


They report to Noddle which is CallCredit.

I like their app and it’s free. Last entry from Monzo was 1st April for me but that might just be when Noddle list it from :woman_shrugging:

Or it could be when you opened your account?

Account was opened in the middle of the month, this says updated 1/4/18. Could be reported earlier but not updated on report until start of the next month. My new credit report is out tomorrow. I’ll let you know what date they have after I’ve had a nosey :lying_face: but I don’t use the overdraft so doubt it’ll tell me anything different

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Don’t worry too much about the score/rating since no 1 but you can see it, an entry will be added to your file if you go into your overdraft. What is important is you check the information held by the 3 agencies is up to date eg any accounts not yours.


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