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    • Sbelle12
    • By Sbelle12 11th Mar 17, 8:20 PM
    • 3 Posts
    • 0 Thanks
    Sbelle12
    Your credit score is meaningless as nobody but you sees it, only the data is important and that will show you living in your OD and not being able to clear it so your credit record will already be quite poor.
    My credit score was "excellent" until recently and has just dropped down to "good". I do know the score itself is meanless, but it does represent the data in the report, which overall is ok.

    My overdraft does not appear on my credit report. I looked into it when I saw my report and apparently, because I have had the account for so long, it doesn't appear on it due to t&c.

    I want to keep the score/report good so when I do return to work, I can get a 0% interest money transfer card and pay off the entire overdraft. I applied, but was turned down due to income (hence dropping down to "good").

    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    • dunstonh
    • By dunstonh 11th Mar 17, 10:55 PM
    • 86,887 Posts
    • 52,039 Thanks
    dunstonh
    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    No. Nothing will be.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Nasqueron
    • By Nasqueron 12th Mar 17, 10:11 AM
    • 3,961 Posts
    • 2,184 Thanks
    Nasqueron
    My credit score was "excellent" until recently and has just dropped down to "good". I do know the score itself is meanless, but it does represent the data in the report, which overall is ok.

    My overdraft does not appear on my credit report. I looked into it when I saw my report and apparently, because I have had the account for so long, it doesn't appear on it due to t&c.

    I want to keep the score/report good so when I do return to work, I can get a 0% interest money transfer card and pay off the entire overdraft. I applied, but was turned down due to income (hence dropping down to "good").

    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    Originally posted by Sbelle12
    Again, the "score" or rating is meaningless, people with bankruptcies on their record can get 999 on Experian. Lenders give credit on the risk THEY determine based on your data, your salary etc (credit agencies don't know your salary). Personally I'd check all 3 agencies (Experian, Equifax and CallCredit) - it's possible the account is not reported to all of them

    A single application for a card won't cause any long term issues for a record, after 3-6 months no-one would care. However, having an overdraft you are using in full and are unable to pay off and struggling to pay bills will negatively affect you way more than a CC application. If you do raise a case with the bank for financial hardship and it helps you clear down the OD what then? Will you be able to clear the OD every month or just be back to square zero in 6-12 months time?

    I'd suggest the below sub forum for help, they can talk you through doing a statement of affairs and cutting spending which you may not realise you are doing

    http://forums.moneysavingexpert.com/forumdisplay.php?f=76
    • daniellej168
    • By daniellej168 20th Mar 17, 8:36 AM
    • 3 Posts
    • 0 Thanks
    daniellej168
    Overdraft charges
    Hi, when your saying that your claiming money back from your bank...it is over draft charges isn't it?
    My boyfriend has lived in his over draft for over 10 years and pays £40 a month to have it. He's stuck in a vicious circle now and can't get out of it. He's resulted in payday loans and credit cards. He doesn't have any household bills to pay as he's back with his parents now. But he has debts to pay off.

    Do you think he has a chance to claim some money back? Or at the very least stop the £40 a month for a bit so he can try to get back on his feet?

    Thanks
    • Nasqueron
    • By Nasqueron 20th Mar 17, 9:37 AM
    • 3,961 Posts
    • 2,184 Thanks
    Nasqueron
    Hi, when your saying that your claiming money back from your bank...it is over draft charges isn't it?
    My boyfriend has lived in his over draft for over 10 years and pays £40 a month to have it. He's stuck in a vicious circle now and can't get out of it. He's resulted in payday loans and credit cards. He doesn't have any household bills to pay as he's back with his parents now. But he has debts to pay off.

    Do you think he has a chance to claim some money back? Or at the very least stop the £40 a month for a bit so he can try to get back on his feet?

    Thanks
    Originally posted by daniellej168
    Do note you do not claim back charges, the bank will reject such attempts if they think it's an "unfair charges" type aproach

    He needs to apply to the bank's hardship team to have his case looked at. If he's genuinely in a cycle of charges they will help (e.g. a refund of charges, freezing future charges etc) bu do note they will look at his spending so if he's claiming hardship but has say sky tv bills, eating out etc i.e. causing the hardship, they are not as sympathetic

    Point him to the Debt Free forum below where a determined person can post a statement of affairs for his monthly spend and see where he can rein in his spending.

    http://forums.moneysavingexpert.com/forumdisplay.php?f=76
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