Anyone having problems with getting student overdrafts?

Miss_Liquorice

Hi guys,

Is there anyone else having probems with extending their student overdrafts? I've had an RBS student account and credit card for nearly 4 years now, they sort of threw the CC and a £1250 overdraft at me at my fresher's fair. I cancelled my CC in September, but when I went to increase my OD limit to £2000 the other day, I got refused but told I could get £1800.

After years of seeing my mates go in to the bank and get ther OD extended without a problem, I figured I may as well increase mine (for 0% interest to use towards a car ) I've had credit report recently and all looks well. This account is consantly got money gong through it, and has been in and out of overdraft for the last year. I really wasn't anticipating a problem with the increase, but guess that's credit crunch for you!

Just wondering if anyone has had the same problems recently??

Lokolo

Yes. Do you not read the news? Banks are in trouble, they can't go giving away loads of money when they don't have any

Twister84

What year are you in at the moment? And did you take proof in with you?

I had someone in last week who wanted to increase his overdraft and it went through fine.

I've no idea where people are getting this idea of banks not lending - my branch is continuing as normal. Of course it's the same issue, where you're credit scored - we're not just processing applications left right and centre for anyone and everyone

FStewart

If you have a clean credit rating and have money flowing through the account I dont see why it should be a problem.

Yes we are in a recession but that shouldnt stop banks lending - esp to students who are typically their most valuable customers.

If your wanting a £2k overdraft and they are only offering you £1800 threaten to take your business elsewhere....Im sure that may change their tune for the sake of £200!!

Sol00

FStewart wrote: »

If you have a clean credit rating and have money flowing through the account I dont see why it should be a problem.

Yes we are in a recession but that shouldnt stop banks lending - esp to students who are typically their most valuable customers.

If your wanting a £2k overdraft and they are only offering you £1800 threaten to take your business elsewhere....Im sure that may change their tune for the sake of £200!!

The problem is banks aren't lending, that's what the government is trying to address and has been since September.

Miss_Liquorice

I'm in final year, and I had a student card with me, though they didn't ask for any proof. I just find it funny from them throwing credit at me when I didn't want it, that now I did it was suddenly an issue. I'm lucky that the £200 isn't going to affect me at all, but my flatmate is needing to extend her overdraft on Monday to afford food...! We'll see how that goes... lol.

bluenose1988

Only problem I had was that I kept increasing it, only by a couple of hundred over a short space of time because I was lying to myself that I didnt want to go over the £1000. I'm now at £1200, nearly got refused though!