Halifax judge you by behaviour score only?

StephenM_2

Incyder wrote: »

So you have a 3k o/d u don't intend to use.
Pointless.

Not really. Its there for emergency situations. I've got a 10k o/d limit, also with Halifax, that I never use. But it could be useful in an emergency, and also means there's no chance of any of my direct debits bouncing.

YorkshireBoy

StephenM wrote: »

Not really. Its there for emergency situations.

It'd have to be some emergency to warrant paying over £60 a month for if you took out more than £2.5K

also means there's no chance of any of my direct debits bouncing.

I would imagine for most people a couple of £K would be enough to ensure a months DDs were paid?

There are other benefits to having such a large facility though. Halifax (unprompted by me) offered me a £10K facility a couple of years ago. I snatched their hand off, took a screen dump*, then asked A&L to match it. They did, at 0% for a year, and because it's still only a fiver a month after the first year the £10K is still sat with LTSB making me 4% gross (£250ish net after tax and A&L charges) a year.


* And cancelled it straight away!

backinbusiness

Nifty work YorkshireBoy - well done!

StephenM_2

YorkshireBoy wrote: »

I would imagine for most people a couple of £K would be enough to ensure a months DDs were paid?

Usually, yes, but not if I've paid a particularly large bill on my credit card, which then gets paid off in full by DD. I'm organised enough to avoid using the overdraft, but you never know when I might get taken ill or something at the wrong moment.

rb10

jackjones01 wrote: »

No wonder the halifax are mostly owned by the goverment if they are going to offer people credit without credit scoring them !!

Try reading the earlier posts in the thread again - Halifax will perform both internal and external checks before giving any customer any form of credit.

opinions4u

jackjones01 wrote: »

No wonder the halifax are mostly owned by the goverment if they are going to offer people credit without credit scoring them !!

(1) They are not "mostly owned" by the Government. Lloyds Banking group is 41% state owned. So it's a minority ownership.

(2) All credit with Halifax is performance scored in some way prior to funds being released.

(3) Lending within the Halifax brand is not what created difficulties for HBOS that lead to its takeover by Lloyds TSB. Indeed, HBOS Retail Bank remained profitable throughout the Credit Crunch. The Bank of Scotland Corporate lending, typically to property developers, was the major cause of difficulties for HBOS.

jackjones01

opinions4u wrote: »

(1) They are not "mostly owned" by the Government. Lloyds Banking group is 41% state owned. So it's a minority ownership.

(2) All credit with Halifax is performance scored in some way prior to funds being released.

(3) Lending within the Halifax brand is not what created difficulties for HBOS that lead to its takeover by Lloyds TSB. Indeed, HBOS Retail Bank remained profitable throughout the Credit Crunch. The Bank of Scotland Corporate lending, typically to property developers, was the major cause of difficulties for HBOS.

Personally i dont care what percentage they are owned by the goverment :cool: but at the end of the day they are partly owned by goverment regardless of who was to blame.

rb10

jackjones01 wrote: »

Personally i dont care what percentage they are owned by the goverment :cool: but at the end of the day they are partly owned by goverment regardless of who was to blame.

But at the end of the day that fact that they are partially owned by the Government has nothing to do with the way they lend money on overdrafts and credit cards.

QuantumSuccess

When I went on to online banking it used to be that there was a screen that showed me the maximum OD I could have there and then. Then maybe last year or year before that screen disappeared. I wonder if it's up again. Anyone else know what I'm talking about?

backinbusiness

Hi there. If you log onto your online current account then go to the request overdraft page. Type in that you would like £9999. The screen will come back with "£9999 is above the approved o/d limit of £x" - I did this and discovered I could access (if I wanted to - but I don't) - £5K:eek:.