Natwest Current advantage gold account. Am I guaranteed.....

develash84

Hi everyone,

I have just applied for the UPGRADE to NATWEST CURRENT ADVANTAGE GOLD ACCOUNT. Now what I am wondering is:

1. Am I guaranteed the overdraft they mention?

2. Will I get the credit card as well?

Any help would be graeteful.

Pete

bingy_burge

No its subject to your credit... delpending on your 02 default I would expect natwest wont give you an o/d.

The credit I would say no if you have any defaults in the last 6 years.

Dont think of it as they think your special customer just they think youru someone they can sell combined insurance to. I was offered it when I was 19-20 and they declinded me for the credit card.

develash84

Ah I see,

I applied for the upgrade as having been with Natwest for 2 and half years I felt it was about time I got something for loyalty.

So theres no chance I will get the overdraft or the cc then?

Kavanne

develash84 wrote: »

Ah I see,

I applied for the upgrade as having been with Natwest for 2 and half years I felt it was about time I got something for loyalty.

So theres no chance I will get the overdraft or the cc then?

Pretty much no with all those defaults

bingy_burge

develash84 wrote: »

Ah I see,

I applied for the upgrade as having been with Natwest for 2 and half years I felt it was about time I got something for loyalty.

So theres no chance I will get the overdraft or the cc then?

I am sorry but you may have a good salary but with that many defaults you look like someone who can't/doesnt pay money back.

If you have defaulted on a provident credit (the lowest or the low! They take people sub prime companies like vanquis run a mile from) then the chance of anyone lending you money is NIL.

I accept that with one default I am sub prime (One mistake) Not 6 have a 4 year car finance deal of 12k and I have paid that even though I defaulted on o/d, I can get some credit but not prime deals.


I assume you have a step acc?

develash84

ok bingy-burge i wasnt looking for a talk about my previous defaults. See PREVIOUS DEFAULTS. And yes I do pay back my debts, after being unable to work for several years this is how come I ended up with defaults.

Anyway, my Natwest account is a CURRENT PLUS ACCOUNT.

Kavanne

There's no point in going from current plus to advantage gold unless you are going to use the extras you get like car breakdown. It won't give you a better credit rating.

bingy_burge

Oh yes I had that acc at 18 plus meaning you pay in more than £1000 a month.

I am not judging personally on your previous defaults but anyone looking at your file would view them negatively. Have you put notes on your file explaining your situation as you say there was a reason you couldnt work would be worht putting that reasoning on the file .

How old are they ? Are the all settle (IE paid off)?

You may not want to discuss your previous defaults but if they are under 6 years old they will be stopping you getting majority of credit from lenders. If you are able to tell us more about them may be able to point you in the right direction.

What credit acc's if any do you have active? Have you ever goen into an authorised o/d with natwest?

develash84

I have never had an overdraft with any bank that I have ever had.

Lowell Portfolio 1 Ltd - DEFAULT £196 pay £20 a month
Lloyds tsb personal loans - DEFAULT £211 pay £15 a month
Lloyds tsb current accounts - DEFAULT £195 pay £15 a month
O2 - DEFAULT £1,246 pay £0 in dispute
Provident Loan - DEFAULT £1,270 £pay £20 a month
T-Mobile - DEFAULT £1,113 pay £0 in dispute

That is the standing of my DEFAULTS if that helps anybody with my situation.

Surely I must be able to get a overdraft even if its just £100????

izools

It doesn't matter how much of an overdraft you apply for.

IME credit scoring tends to work in two stages:

1. Your credit standing / history of paying on time affects the APR you can get / apply for
2. Your income / expenditure / available credit / affordability affects how much of a limit you can get

As the Natwest OD is sub 20% APR it is unlikely you will get it unless they base it in your account behaviour score alone, which they might depending on how well you have run the account and depending on whether you have had credit from them before.

With all those outstanding defaults the only thing a creditor is going to think of you is that you have a proven history of not repaying debt. They don't care why, whether it's because you couldn't work or because the default is invalid. To them it is irrelevant - a default is proof that you've failed to appease a creditor in the past.

Six is proof that you once made a habit of it - be it your fault or not.

I know you don't want to be lectured, but with all those outstanding defaults you should most certainly not be thinking about borrowing more money, or having an overdraft & gold account meaning you will have interest and account fees being taken out of your income, which should be being used to clear your unpaid defaults.

My OH has been with his bank for years, has always run the account flawlessly, but can't get an overdraft. He has a Visa debit card on the account but when he calls to enquire about an OD they do a soft search on his call credit file and see his one default, which is two and a half years old, and for under £1,000, and say no.

The only credit he has been able to get since the O2 default is a Vanquis credit card, a Capital One Classic credit card, and an Orange mobile contract. No one else will go near him because the default is there, it is outstanding, and it is recent.

It's the way of life. If you don't pay one creditor don't expect anyone else to want to lend you money until you've paid them what you owe. Even then (i.e. satisfied defaults) it's going to be sub prime for a while to come. Sub prime credit is targeted at those that once defaulted but have now taken responsibility and cleared the debt. Credit for those with outstanding defaults? Well, that's provident, but you didn't even manage that!!

LOL @ Defaulting on a Provident loan. I had to take one out whilst I was bankrupt because the boiler started to leak carbon monoxide, so needed to pay someone to come out sharpish, and didn't pay it for six months, and it still didn't default!! Despite the fact that for all intents and purposes I had "Gone Away". Called them up six months later to be told it hadn't defaulted and has incurred no extra charges or interest..... Quite an achievement if you've managed to default on one I must say!!! LMAO

develash84

Ok well I thank you for your honesty. Yes I also find it kind of funny that PROVIDENT defaulted me even though I was in constant contact but hey what can I do about it.

I have never known anyone to be defaulted with PROVIDENT, guess theres a first for everything.

Would vanquis or capital one be my best options then? I have added notices of correction on my credit reports to explain the situations.