HSBC - happy with credit score but still refuse ovedraft

smiley21_uk

Hi

I just recently applied for a overdraft on my joint account but got declined as they felt that I was up to my limit on my sole account.

HSBC response
Your credit score was acceptable. However your current borrowing is at the maximum limit that we are prepared to agree at this time and we must therefore decline your request

1) Has this still put a small dent in my credit scoring?
2) Has this also affected my wife's (on joint a/c) credit score even though she was not involved in the application?

Thanks

cifpower

The only dent IMO would be the extra search which is not too detrimental if you haven't had too many searches recently. Do you believe that your current borrowings are quite high? What are they exactly?

smiley21_uk

HSBC
£1,500 o/d on Sole a/c
185k mortgage (monthly payment £950)
Other outgoings = £600
Virgin CC
£7k
Net Monthly Income £3,600.

To be honest, I wasn't desperate for the O/D, only needed until Payday.
Like everyone else you tend to overspend @ xmas.

cifpower

As you only need it til Payday I would suggest that HSBC were right to refuse you the facility on account that you are overextended credit wise.