Free Overdrafts?

[Deleted User]

Hi, does anyone know if it is possible to get a £1000 interest-free overdraft anywhere?

I will be able to pay £700 to my mum before christmas, leaving £1000 owing and I just wanted to pay it all off to her if I could by then. I will be able to pay the remainder early next year anyway if needs be, just thought if there was a free way to pay off her generosity earlier, that would've been great.

Any ideas? My current bank (Natwest) say they've done an initial check (?) and said no to an increased overdraft (currently have £100 overdraft). My credit rating is good, I think! I have no defaults/problems and am (now) good with money!

Thanks.

ShelfStacker_3

Do a 0% super balance transfer from the Virgin Money credit card for the amount of the loan. They can pay balance transfers at the promotional rate direct to your bank account.

If you're still insistent on an overdraft, First Direct do one with the first £250 free. But the card is probably your best bet, as if the bank sees you leaving your overdraft up to its limit and untouched for so long they may get annoyed and try and take it back.

LongTermLurker

If the offer's still up to date, the A&L current account comes with a free overdraft for the first year, but you have to feed the account with £500 of income every month. Of course, there's no guarantee what level of overdraft you'll get, so you could end up opening an account and still only getting a few hundred quid.

Kavanne

purpleposting4 wrote: »

Any ideas? My current bank (Natwest) say they've done an initial check (?) and said no to an increased overdraft (currently have £100 overdraft). My credit rating is good, I think! I have no defaults/problems and am (now) good with money!

Thanks.

If you have a good credit rating, natwest may not increase your OD if there's no regular credit into the account. Where is your salary paid? I'd try that bank first.

If you don't have a job/salary you're unlikely to get a 0% card either.. Sorry...

[Deleted User]

If you've got things like top-grade AA cover, holiday insurance, mobile phone insurance, and between you and your OH you're paying more than £25 a month, you could opt for Lloyds TSB's Premier account which provides you those things for £25 a month - and you'll get a £1k free OD