Nearly 18, need an overdraft for my forthcoming birthday holiday trip!

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jvenning wrote: »

Hey all! Just signed up to MSE, have been receiving the email for some time now and really appreciate all the money saving tips!

My eighteenth birthday is in Novemeber and to celebrate, my parents have booked me a trip to New York for four nights with a friend. They have set-aside a fair bit of spending money for me and I'm also saving up some of my own though to play it safe, I want to apply for a small overdraft (around £250 -> £500) so that a) all my money isn't in cash and b) if I run out of the cash, I have an emergency fund.

I've seen a few interest free overdrafts around though anything above £100 seems to be targeted at students going to university (I still have a year left of college). I'm planning on going to NYC a week after my birthday - do you think I could arrange an overdraft within that time frame to be added to my NatWest Current account? I'm currently unemployed so I'm not sure if that would help much either

Thanks for your help in advance.
J Venning

Why don't you just keep some money and then put the rest on a prepaid card, then if you need extra money you can just withdraw it? But at least you have a source of extra funds if you lost or was robbed of your cash. Personally, I don't think trying to get an overdraft for this type of use is really the best solution.

Have a look at the STA travel card link:
http://www.statravel.co.uk/cps/rde/xchg/uk_division_web_live/hs.xsl/cashcard.htm
They give you a Mastercard, only charge £2.25 abroad for a withdrawal and transactions abroad with your card are free. Better still, apply for a Nationwide flex account.

Sooler

agree with backseven - you don't need an overdraft - you won't enjoy it if you come back in debt.

Live within your means - plan ahead for things you might want to do there and find out how much things will cost and if there's any offers around.

As above, set up a Nationwide Flex account and withdraw money when you get there.

robpw2

yes dont get an od to go on holiday with , it leads you dwon a slippery slope

jonesMUFCforever

If all else fails get some of the cash in travellers cheques - at least if they are lost or stolen you will be covered.

simongregson

I would say take your debit card, use this to access your cash when you need it rather than taking it all as cash.

Travellers cheques are mor euseful in the US, as they are widely accepted as cash (make sure you take $ ones, the US is fairly unaware of the existence of other currencies). You are then covered if they are stolen.

If there is a genuine emergency, your parents could pay some cash into your bank account in the UK which you could withdraw or wire you some cash (which would be expensive, so make sure it is a genuine emergency!)

jvenning

Thanks for all of your replies, they are greatly appreciated. I have discussed the issue with my dad and he has agreed for me to take his Marbles credit card with me for emergency purposes.

Kavanne

Ok but some countries require you to produce ID with your credit card which obv. you can't do unless you have the same first name...

EDIT: This has only happened to me within europe so you might be OK in the US.