Halifax overdraft

score

Hi

I have a halifax current account and wanted to know that if I went into the increase oveerdrat section and selected a new overdraft limt is this credit searched or not?

Thanks

pmduk

I'm not a Halifax customer, but I'd say almost certainly it would be checked by most banks. How much weight they'd give to external data vs their own records will differ between lenders.

paulmcerlean

As a current customer, you may have a preapproved limit that they will give without an external search. The amount, if any, will be based on your account throughput each month. How much goes in, out etc...

jen245

I recently increased mine online, and wasnt credit checked

battyboimatt

It actually says, mine is £750 if i put more than this it actually says:

To increase your overdraft above your guarentted limite of £750 please call of go into your local branch.

backinbusiness

go to apply for increased limit and type in £9999.

It will then tell you what your approved limit will be, without credit checking.

I did this and was approved for £5K - (I did take it, but I don't use it ever, never!)

BiB

opinions4u

Your account is performance scored. No credit check takes place.

If you want more than they are willing to give you, a manual process credit checks you if they are prepared to give further consideration.

pinkdalek

You won't be credit checked, however it will show on your credit file that you have an overdraft facility.

jambosans

As o4u states, no credit check takes place, with regards to performance scoring I would suggest all accounts are considered when calculating an internal score. Any pre-approved limit applies across the board, to all your accounts (which can bare overdrafts).

Where I diverge from o4u is that you are unlikely to get anything over and above your pre-approved limit. Generally speaking, student overdrafts are the only referrals which go to underwriting (and have a decent chance of an increase) - last time I checked that is. I'm not sure if a credit check is run at any point, right through to underwriting. Obviously this will differ from bank to bank, but I'm talking from experience with Halifax.

Delree

Why would anyone want an overdraft with Halifax? Their charges are outrageous.

opinions4u

Delree wrote: »

Why would anyone want an overdraft with Halifax? Their charges are outrageous.

£2 a day on £10k is rather good value.

Where else can you get £10k of unsecured debt for £730 a year?

(Or they pay the customer £1 a month if they are in authorised overdraft for 4 days).