HSBC Student Account, Overdraft and Final Year

glider3560

I am currently in my final year of university and have an overdraft of £1500 at HSBC.

I just noticed this has an expiry date of 28/02/2011 (i.e. a week today).

Does anyone know what is likely to happen after this date? Will the account convert into a graduate account or is it just a date for reviewing the overdraft?

I have arranged to bring the account back into credit anyway just to be on the safe side.

crispy_chris

I had a similar thing happen to me when I was at uni, the overdraft expiry date was mid-year, they just rolled it over for another 12 months at the same level £1500. About 6 months later the account was turned into a graduate account and they kept the overdraft at the same level for me until 4 years after I graduated (although it wasn't interest free by that point), at which point I closed the account and moved to First Direct.

izools

Exactly.

28th Feb is the "Review" date. Depending on your account conduct and turnover they will either increase, reduce, cancel, or leave the overdraft as is.

If they reduce it you can apply to increase it again and as long as your credit file is OK and you haven't incurred any charges in the preceeding six months they should be OK to honour your request.