Natwest Student Account 2009/10: We Want Your Feedback

Zack1

I got £500 overdraft but only £350 credit limit, and this was despite having no real commitments at the time (only a o2 contract which I'd paid in full, on time, every month prior to results day). They seem to have given a lot of people I know £350 credit limit.

To make it worse the jokers put a search on my credit file, but I know for a fact it wasn't me because it was a month before I applied for the card but they and equifax both say they won't remove it.

Oh and they've got a advert up in my local branch saying student card with a £500 limit (no up to/max etc), so when I questioned it then said despite the fact I was right they wouldn't put it up and I've got to write and complain to get my limit up. I was going to but I've got accepted for Capital One now so can't be bothered with Natwest anymore. Once my Capital One limit goes above what Natwest give I will hardly be using it.

And it took 4 PIN requests before 1 actually worked, so I was unable to use my debit card in shops etc until last week.

Anyone know when the overdraft goes up?

ipswichblade

Zack1 wrote: »

I got £500 overdraft but only £350 credit limit, and this was despite having no real commitments at the time (only a o2 contract which I'd paid in full, on time, every month prior to results day). They seem to have given a lot of people I know £350 credit limit.

To make it worse the jokers put a search on my credit file, but I know for a fact it wasn't me because it was a month before I applied for the card but they and equifax both say they won't remove it.

Oh and they've got a advert up in my local branch saying student card with a £500 limit (no up to/max etc), so when I questioned it then said despite the fact I was right they wouldn't put it up and I've got to write and complain to get my limit up. I was going to but I've got accepted for Capital One now so can't be bothered with Natwest anymore. Once my Capital One limit goes above what Natwest give I will hardly be using it.

And it took 4 PIN requests before 1 actually worked, so I was unable to use my debit card in shops etc until last week.

Anyone know when the overdraft goes up?

I was told December 2nd by someone but I will phoning them up tuesday to find out.

atypical

Zack1 wrote: »

I got £500 overdraft but only £350 credit limit, and this was despite having no real commitments at the time (only a o2 contract which I'd paid in full, on time, every month prior to results day). They seem to have given a lot of people I know £350 credit limit.

It's not a case of it being despite you having no real commitments but probably because you have no real commitments. You have no credit history which makes you unpredictable and less credit worthy.

If you have a £500 0% overdraft why do you want a credit card?

Zack1 wrote: »

To make it worse the jokers put a search on my credit file, but I know for a fact it wasn't me because it was a month before I applied for the card but they and equifax both say they won't remove it.

Wouldn't this credit search have been for when you opened the student account with them?

Zack1 wrote: »

Oh and they've got a advert up in my local branch saying student card with a £500 limit (no up to/max etc)

I very much doubt this is the case, I would read it again. In all the online literature it states a "maximum credit limit of £500".

Zack1 wrote: »

but I've got accepted for Capital One now so can't be bothered with Natwest anymore. Once my Capital One limit goes above what Natwest give I will hardly be using it.

How do you know Capital One will increase your credit limit to past £500. They say they will increase it if you manage your account responsibly but they don't say by how much and to what limit.

elainem10

I had a natwest student account for four years as an undergraduate (scottish uni). I got the maximum overdraft of £2,000 for the four years. They then transferred me to a graduate account where the overdraft limit did not decrease but the amount that was interest free decreased by £500 every six months. After two years I went back to uni to do a phd and they were more than happy to give me another student account with an interest free overdraft of £2,000 again. I'm now in my fourth year of my phd and have never had any problems with the bank or their customer services. In fact they have on more than one occasion waived charges for going over my overdraft, without me having to ask, when money has come into the account a day or two after the breach occurred.

Zack1

atypical wrote: »

It's not a case of it being despite you having no real commitments but probably because you have no real commitments. You have no credit history which makes you unpredictable and less credit worthy.

If you have a £500 0% overdraft why do you want a credit card?

Wouldn't this credit search have been for when you opened the student account with them?

I very much doubt this is the case, I would read it again. In all the online literature it states a "maximum credit limit of £500".

How do you know Capital One will increase your credit limit to past £500. They say they will increase it if you manage your account responsibly but they don't say by how much and to what limit.

In that case give £100 not £350.... and I know people that got the full £500 despite not having a single thing on their credit report. But by and large most people at uni are saying they only got £350. I've been with Natwest for 6 years, I was just very disappointed to only get £350 given my excellent past history with them (and ISA, which they will see on their internal rating!)

Because the overdraft is in savings, and the overdraft, I found out yesterday, takes a hit on your credit report - as they can call it in at any time - credit cards do not, so I'm paying that back anyway. I don't "need" either, but I want them, particularly the credit card with a higher limit, to build up a history

Nope, I upgraded to the Student Account and opened the Credit Card on the same day, all in one session, online

It IS the case. I know online it says maximum and subject to status. The poster in the branch DID NOT. I was there fixing something else Natwest had screwed up with my debit card, but when I noticed that and asked why I only got £350 when the advert says "A £500 credit limit" the lady said she thought it would be up to, but when I said it doesn't say that she checked BOTH SIDES of the advert (as did I before I asked, or I wouldn't have asked), and both sides did not say anything about a maximum limit or up to, so she said she doesn't know and to phone the credit card line. I did that and the advert in question has since been removed and I was told to write to the address on the back of my statement to complain as the credit card line wouldn't change my limit. As I checked there was no up to or maximum on the poster, I'm fairly certain there wasn't. As a member of Natwest staff in the branch checked and agreed with me, I KNOW there wasn't.

Eventually they will. I manage all my accounts responsibly and I will get an increase at my 4th statement. You are correct that it does not say how much. However, Natwest's MAXIMUM limit (as it says online) is £500. Capital One's maximum limit is £2,500. Natwest have given me £350 and say that's the end of it - I'm fairly certain that within a year I shall be well about that with Capital One. Plus my Capital One card gives the *option* for me to get more than £500, Natwest does not. Having the option to go above that is all that matters to me - when I manage my account responsibly for however long Capital One deem necessary they will up my limit . I have also read about people starting with £100, maxing the card out every month, paying back in full and going up to £1,000. Obviously their financial situation plays a part in that decision, but I'm therefore hopefully I get a large increase (even if not to those amounts). And saying that.....I'll now get a £100 increase :rotfl:

JoshP

Complete bunch of incompetants

My account they have 'lost' several bits of sensitive documentation I sent to them (copies of my passport included)
Given me a credit card i didnt want then harrnaged me to activate it
Online sign up is a waste of time why offer incentives to sign up via this when they cannot cope

My girlfriend still has a solo card with them because they cant sort their own blunder of issuing the wrong card even
She was made to take her passport to her branch twice and show it to a manager because she was born in south africa (she has lived here over 7 years and is a UK national by rights from birth anyway)

And just generally !!!! service in branch a woman once took 20 minutes to 'photocopy' something and returned with a mug of coffee (nice sneaky break there...)

MissPop

Does anyone know how and when the increased overdraft limit is applied to accounts? I've got a tenner left in my account and I could really do with the extra money until I get my loan in a month (assuming that is paid in on time...!!!)

Do I need to phone them to request it, or is it automatic?

ipswichblade

MissPop wrote: »

Does anyone know how and when the increased overdraft limit is applied to accounts? I've got a tenner left in my account and I could really do with the extra money until I get my loan in a month (assuming that is paid in on time...!!!)

Do I need to phone them to request it, or is it automatic?

Phone them up on 0800 200 400. Ask for the increase in overdraft for your 2nd term. You should have the extra money in your account within 48 hours-I did.

curlycat_2

Please warn people that there is a 2 mth deadline for applying for your free rail card from Nat West. My daughter didn't try and apply until her current one had nearly run out - after all who needs 2. She received an email off Nat West pointing out that she hadn't applied, but it did not give a deadline date. Only when she attempted to apply was she told that the deadline was 30th Nov and it was now too late. Her current card doesn't run out until January.

Rang Nat West who basically take the attitude that tough, it was in the small print. They also stated that she wouldn't be allowed a railcard at all now for the duration of her account with them. So not only does she not get one this year, but ever. Went into the branch with her. The manager is looking into it, but apparently this happens all the time and they do stick to their guns on it.

My daughter does not use the o'draft facility (yet) so they are making money hand over fist on her yet begrudge her the item which helped her select the bank account in the first place.

Please be warned.

Zack1

curlycat wrote: »

Please warn people that there is a 2 mth deadline for applying for your free rail card from Nat West. My daughter didn't try and apply until her current one had nearly run out - after all who needs 2. She received an email off Nat West pointing out that she hadn't applied, but it did not give a deadline date. Only when she attempted to apply was she told that the deadline was 30th Nov and it was now too late. Her current card doesn't run out until January.

Rang Nat West who basically take the attitude that tough, it was in the small print. They also stated that she wouldn't be allowed a railcard at all now for the duration of her account with them. So not only does she not get one this year, but ever. Went into the branch with her. The manager is looking into it, but apparently this happens all the time and they do stick to their guns on it.

My daughter does not use the o'draft facility (yet) so they are making money hand over fist on her yet begrudge her the item which helped her select the bank account in the first place.

Please be warned.

I was told the Railcard deadline was actually October - so yet again Natwest manage to come up with several different versions of information! I eventually got my railcard though, but know some that didn't. I only got mine because I knew they would probably be a shambles like Student Finance so applied in May! Had to wait about 2 months, with them saying "2 to 3 weeks" every time I phoned!

As for not getting one in future years if you didn't have one the first year, I've heard of the same thing before. My friend has a railcard which doesn't expire until June, so there is no need to have a Natwest one (as he'll be at home in the summer), but I said to make sure he gets it because they won't give him one next year if he doesn't - so now he has the one he paid for until June, then the Natwest one for July! (which he won't use!) Pointless, but sums up a lot about Natwest.

Oh and my Student Credit Card won't work with this new Online Banking thing. It was telling me to phone the helpdesk so I did and got told no that's because it's a student card, and would only work with basic online banking, not the new enhanced one. What the difference is I don't know, but it looks like I won't get to see!