Rejected by Halifax, anyone else had problems?

Kavanne

My bf got declined due to credit score even though he had a credit card (Cleared n full each month) and a MORTGAGE lol

rb10

Kavanne wrote: »

My bf got declined due to credit score even though he had a credit card (Cleared n full each month) and a MORTGAGE lol

"We'll lend you loads of money, but we won't lend you just a little bit"!

withnell

When I was at uni, I had 2 x 2000 overdrafts, 0% - I suspect that with tightening of credit belts at banks it could well be more of a fight to get top limits these days

justruth

Ha probably because BoS have just asked for another bail out lol. When I applied they messed up my application big time and I only got the stuff through over Christmas! I have the small £500 O/D but will persue a bigger one by offering to close the Barclays bank accounts (that is a whole other story). My advice is to either ring or write to them and explain that you want to move your student account. Seriously the price of a railcard is less than the interest you stand to make, and they may not close it anyway!

Mike1989

justruth wrote: »

Seriously the price of a railcard is less than the interest you stand to make, and they may not close it anyway!

A rail card will cost you about £25 ish. If you get a 2000 overdraft, place it in a 3% fixed rate bond (although that is risky if they want it back), you would stand to make £60. So you would be £35 in pocket. But that is if you tie your money up. You might be able to find a web saver at 3% making a similar amount. But you would probably need to hold back £500 so you can use the account. So if that is the case at a 3% fixed rate bond you would make £45 making £20. So it might be worth considering but I'd personally try and see if they can keep the NatWest account and go for another student account with overdraft, eg Abbey, Lloyds, Barclays etc. As they might be able to make interest on overdraft 1 and 2.

rjl89

Mike1989 wrote: »

A rail card will cost you about £25 ish. If you get a 2000 overdraft, place it in a 3% fixed rate bond (although that is risky if they want it back), you would stand to make £60. So you would be £35 in pocket. But that is if you tie your money up. You might be able to find a web saver at 3% making a similar amount. But you would probably need to hold back £500 so you can use the account. So if that is the case at a 3% fixed rate bond you would make £45 making £20. So it might be worth considering but I'd personally try and see if they can keep the NatWest account and go for another student account with overdraft, eg Abbey, Lloyds, Barclays etc. As they might be able to make interest on overdraft 1 and 2.

Railcard: £24
Max Halifax overdraft: £3000
Max Natwest overdraft (year 3): £1600
My easy-access savings account: B'ham Midshires - 3.35%
Interest from £1400 extra: £46.90 per year
Even without the railcard, that's a £22.90 saving.