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hsbc!!! letters r confusing me
123money
Posts: 348 Forumite
a few months ago i had a leter stating i had to pay my overdraft of.when i payd it of i had a letter saying i was intittled to 1500 limit.then when i applied my application got declined.
if i didnt recive the letter they sent in error i would never have reduced my overdraft.
anywayi have just recived another letter saying my overdraft is 500. but then underneath it says i will not be charged on intrest on the first 1,000 .
i phoned up as i didnt understand and they jst said if i go over 500 i will be charged.and couldnt give me explanation as why it says i have 1,000 intrest free.
i find hsbc really confusing. has anyone eles experinced the same or simialr with them
if i didnt recive the letter they sent in error i would never have reduced my overdraft.
anywayi have just recived another letter saying my overdraft is 500. but then underneath it says i will not be charged on intrest on the first 1,000 .
i phoned up as i didnt understand and they jst said if i go over 500 i will be charged.and couldnt give me explanation as why it says i have 1,000 intrest free.
i find hsbc really confusing. has anyone eles experinced the same or simialr with them
0
Comments
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The £1000 bit is likely a part of their standard terms and conditions, which they will print for the overdraft. It isn't tailored to you, it would be the same set of words whether you have a £100 or £100,000 overdraft.What would William Shatner do?0
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BarclaysManager wrote: »The £1000 bit is likely a part of their standard terms and conditions, which they will print for the overdraft. It isn't tailored to you, it would be the same set of words whether you have a £100 or £100,000 overdraft.
Precisely right. I'm guessing the OP has either a Student or Graduate account - these accounts are entitled to up to £1500 free overdraft, but this is subject to status as with anything else - that HSBC have already had to make a demand in full for an overdraft back doesn't bode well for their prospects there.
Basically, OP, if you've been declined an overdraft facility, it doesn't matter. There's no issue.0 -
This must be a graduate or student account. Whatever the actual limit on the account is, is what you should follow, if your ACTUAL limit is below the £1000 limit that you ''may'' be allowed to have (subject to status) then the interest free option will remain.
Makes sense??
Hope this clarified it a bit xxLoan-£3600 only 24 months of payments to go!!!
All debt consolodated and cards destroyed!!
As D'Ream would sing 'Things.....can only get better'!!!0 -
arh thanks everyone for your help.it all makes sense to me now. sorry for my spelling mistakes. have a problem with my spelling.sorry.and thanks again for your help0
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