Best current accounts for bad credit?

165721 · 12 October 2006 at 10:32AM

Hi,

Can anyone help? I am looking for a current account that would be available for someone with a poor credit history. She has a £400 overdraft with HSBC but wants to leave them.

Thanks,

Jack

creamtea_2 · 12 October 2006 at 11:08AM

:A :A yes please need this advice too

165721 · 18 October 2006 at 4:16PM

Seems no one knows about this one

165721 · 19 October 2006 at 5:20PM

Ok no one wants to help. Any experience with Cahoot. How are they with giving out current accounts with small overdrafts?

Get_rich_or_try_dying · 20 October 2006 at 12:31AM

I couldn't get an account with most banks due to my poor credit rating. My girlfriend informed me that Natwest did a "Step Account" for people such as myself.

Basicly it's a current account without a chequebook. They monitor your account for a year or so and then (If everything is ok) offer you the chance to upgrade to a standard current account with chequebook.

I started with a "step account" 3 years ago and now I have a current account with a 600 pound agreed over draft limit.

inmypocketnottheirs · 20 October 2006 at 7:02AM

If the OP's friend has a current account with an overdraft, presumably a debit/cheque card, and has credit problems, they really are better staying with the current bank. It will be virtually impossible to match the facilities elsewhere, with the best offer probably being a basic account such as the 'step' account above.

The Norwich and Peterborough Building Society do a current account, which if you are declined for the £500 overdraft and debit/cheque card facilities, they may offer you a standard account, still with cheque book and link card (no overdraft or debit card) but with full online facilities. The problem could be paying cash in if you are not close to one of their branches. Take a look at https://www.npbs.co.uk.

HTH

165721 · 20 October 2006 at 9:00AM

Thanks for the input guys!

frepol · 20 October 2006 at 9:07PM

Natwest Step Account
Alliance and Leicester standard current account
Co - op cashminder account

bitza81 · 20 October 2006 at 11:19PM

We used to bank with Halifax but were desperate to change due to many problems with them. We attempted to change banks but with a poor credit history this proved difficult.

We were turned down for even a basic account with the Abbey National!
HSBC gave us a current account with overdraft. I think they are possibly the more generous bank so would stick with them until maybe the overdraft is cleared, after which there may be more options available.

I am not overly happy with HSBC but am still living in my overdraft and don't bank on my chances getting another account, so am sticking with it.

Apologies if this has not been particulary helpful!

Helen

Albionchez · 21 October 2006 at 12:24PM

frepol wrote:

Natwest Step Account
Alliance and Leicester standard current account
Co - op cashminder account

I was turned down by all of these. But all is well because today I have just received my details for a Bank Of Scotland EasyCash Account!!! :T :T :T

milliejon · 21 October 2006 at 6:17PM

Just found this website which might help http://www.fsa.gov.uk/consumer/pdfs/bank_account.pdf.

It shows the different basic accounts and what each one offers.

Best current accounts for bad credit?

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