Question about Lloyds TSB overdraft online

TheEffect

I've just got a classic account with Lloyds TSB. I'm transfering all of my banking to them. I went to 'Apply' online for an overdraft, and entered £250, for 12 months, reason - Overdraft entension, and all it said was ''Thanks, to complete your overdraft request, please call XXXXXX and speak to one of our advisors''.

Does it do this with everyone who applys for an overdraft online, or only people who the computer feels aren't eligble for an overdraft or any credit.

I'm 18 and my credit ratings isn't the best, as you'd imagine with an 18 year old with limited previous credit information.

Should I have put 'Overdraft extention' (This was the default option).

I did phone the number, and they guy said 'Ok, we'll get this setup for you, let me just take two minutes, oh sorry sir, you haven't had the account for that long, ring back in a few months''.

Also, I noticed I didn't get credit searched when I applied for an overdraft online...

Is it impossible to get an overdraft with them until you've had an account for a while?

Paul_Herring

My only experience with the online OD application is acceptance whenever I've changed it (up or down,) and I'd only ever attempted it after I've seen what limit they were (previously) prepared to give me. I've been with them 6 years, and they're the account my wages get paid into.

Is it impossible to get an overdraft with them until you've had an account for a while?

Looks like it.

susan1105

hi we had the same mesage when i went to the bank they didnt know why it didnt just go thur online. so dont worry about it

susan

Helix

TheEffect wrote: »

Is it impossible to get an overdraft with them until you've had an account for a while?

Nope, they gave me an overdraft at the same time as opening the account with them and I had never been a customer of theirs before.

ldn-100

TheEffect wrote: »

Is it impossible to get an overdraft with them until you've had an account for a while?

They offered me an overdraft of £1,250 when I opened my Classic account in branch. Go in and see someone.

rb10

I would imagine that the other posters have a more comprehensive credit history than you, which Lloyds can take into account when deciding whether to give an overdraft. As yours will be limited, they want to see first hand how you manage your account before giving you an overdraft.

Make sure you run the account perfectly over the next few months, then try again.

Paul_Herring

Having read rb10's answer, I completely missed the fact that you're 18.

Unless you have history with them, you're almost certainly going to be scrutinised most closely for any credit with LTSB. (or any other institution come to think of it) However (from past experience with LTSB,) if you run a 'good account' with them they're likely to offer you more stuff (most of which I wouldn't touch with the proverbial.)

The previously alluded to OD limit of mine was £10,000 with a £10,000 CC 0% deal. Both were discovered in a 'come to us to review your financial situation.' (I knew better before going to that meeting.)

The largest OD limit I've asked for is £1.5K for a month - I have a running £500 that I rarely use (Unless it's a month I ask for £1.5K )

I realise this may come across as boasting - while I accept that, it's not meant to - most of the data I've supplied is over 2 years old. But I have no reason to think LTSB would refuse me a (say) £2K OD for a year. If they did I'd start thinking twice about using them. (Then again, the reasons that would cause me to ask for that would probably be reason for LTSB to question whether to give me it.)

Looks like you're going to have to wait I'm afraid.

cassy

i think its just down to credit raiting

i have a classic account with them i have had for at least 4 yrs, they will not give me an over draft not that i want one, i have never had any problems with my account

but im on a DMP so my credit raiting is through the floor

naijapower

It might be down to your credit rating. As new customer, if you insist on the O/D, they would most likely credit check you. If you are happy to the credit checked, you should visit your branch and speak to someone face to face