Overdrafts

[Rednursie]

Why is it such a big deal when you decide want to reduce your overdraft?! I've had mine for ages and finally today phoned up to reduce it down by £1000. If the facility is there I know I'll use it hence why I wanted my limit reduced. Its actually subject to credit rating and you answer the same questions you do when applying for it! Sorry this is just a pointless ranty thread but it's so annoying. I'll never get a decent credit rating if every time I reduce my overdraft Im subjected to a credit check. Gah!!!!

 

[BabysMomma]

It's flipping daft isn't it. I've only got a £200 overdraft and I'm planning to pay it off as soon as money comes through from my car being a write off because even though I try to leave money in my account to take it down, so at one point I can get it taken off...I spend it! Plus it costs me £10 a month to flipping have it regardless of what I use of it! So that's like £120 a year the bank is making off me! xx

 

[misscrazycooki]

I have one for emergencies but i end up in it more often than i like. Mine is a quid a day so i try to clear it best i can quickly x

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[LikeJohnnYoko]

I've not been out of my overdraft in the last 2 years. I guess they don't want to reduce it because they know if it's there, you will use it and therefore run up charges with them.

 

[netty]

i have 500quid o/d and always clear it to 0 when I use it! tey are good but you have to keep on top of it

 

[Squeakz]

I had a student od that was 1800 interest frr then it got cut to 1000 interest free ( as they try to get you out of od) but kept 1800 available......dangeriuz...so.i went to thr bank to just have the extra taken off and it was like the spanish inquisition...........buh....x

 

[frankie247]

When I was at uni I had one £1500 interest free, needless to say for the duration I was a student I never cleared the overdraft. I did just before I got married and closed the account - it felt so good to get rid of it - I don't ever want to have one again x

 

[PyscoFalcon]

Same with CCs.
You try to pay them off and they start slapping all kinds of charges etc on. Took a load of phone calls and a solicitor to get mine paid off and cancelled.

At least I got all my money back too as solicitor got all my PPI back for me which was more than the balance left on the card!

They can be good when in a major fix but been so much better without and never want to go there again!

 

[AugustMum]

My over draft is at almost £3000 Im currently paying it off and have managed almost £1000 off it so far and my first few wages will go purely on getting back in the black.

I can guarantee they won't want me to reduce my overdraft but once I get a few hundred more paid off Im changing banks. God bless graduate accounts! I don't think banks should be allowed to give such a big overdraft to students. Especially not in the current climate.

 

[Lolly85x]

I have a £2,500 overdraft. Makes me physically sick I tried to get a loan from my bank, as I'm paying £50 a month in charges. I'd rather pay more towards a loan. And they say I'm not eligible. It's a nightmare. Cannot wait to get back to work off my mat pay to clear it all off.xx