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Halifax overdraft

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2

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  • StephenM_2
    StephenM_2 Posts: 373 Forumite
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    backinbusiness wrote: »
    go to apply for increased limit and type in £9999.

    My Halifax overdraft limit is £10000, so if I put in £9999 I'll be applying for a decrease.
  • backinbusiness
    backinbusiness Posts: 881 Forumite
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    To Debt-regret - no, you don't need an existing overdraft; and to
    StephenM - well done, yours is bigger than mine! (although I am a girl!)

    bib x
    DF :grin:
  • jennifernil
    jennifernil Posts: 5,580 Forumite
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    Is a large overdraft facility something to be proud of then?

    We have £2500, but never use it. Why would we want more?
  • backinbusiness
    backinbusiness Posts: 881 Forumite
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    Apparently! Who knew?
    DF :grin:
  • jennifernil
    jennifernil Posts: 5,580 Forumite
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    I think if I needed a large overdraft, I would be keeping quiet about it. Maybe I am just "old fashioned".

    Mind you, he doesn't actually say that he uses it...........just that he has it.
  • backinbusiness
    backinbusiness Posts: 881 Forumite
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    jennifernil wrote: »
    I think if I needed a large overdraft, I would be keeping quiet about it. Maybe I am just "old fashioned".

    Mind you, he doesn't actually say that he uses it...........just that he has it.

    As you correctly pointed it - it's not how big it is, but what he does with it!

    As I stated previously I don't need or use my overdraft - it's just pretty to look at. It functions as a reminder of how far my relationship with my bank has come since the dark, indebted years.

    Stupid, perhaps - pointless, almost certainly; but hey 'aint folk funny!

    bib x
    DF :grin:
  • backinbusiness
    backinbusiness Posts: 881 Forumite
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    Debt-Regret wrote: »
    Oooh told me my guaranteed limit is 100 so I took it. It's only been open 2 days and I just paid £100 in to activate card.

    Would that mean I'm not eligible for a CC just yet, if £100 was all they offered?

    Thanks for your help :)

    Hi Debt Regret.

    To be honest it would depend on the rest of your credit history. The overdraft offered reflects the fact that it's too early for them to see what kind of a customer you'll prove to be. ie you've no established internal score yet

    Keep the account in credit, keep passing a salary through it, in short run it in good order and try again in 3 months or so.

    Sorry, but time and patience are the key as with all credit products.

    Good luck tho'

    bib
    DF :grin:
  • noh
    noh Posts: 5,807 Forumite
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    Delree wrote: »
    Why would anyone want an overdraft with Halifax? Their charges are outrageous.

    I use mine to provide the £1000 to cycle through my 3 Reward Current accounts so I get the 3 x £5 reward payment each month.
    There is no overdraft fee if the account is not overdrawn at the end of the day.
    So £15 paid to me and I don't even have to use my own money to "earn" it.
  • WelshPaul
    WelshPaul Posts: 541 Forumite
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    opinions4u wrote: »
    £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).

    The max Halifax will give is 5K on an overdraft!
  • noh
    noh Posts: 5,807 Forumite
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    WelshPaul wrote: »
    The max Halifax will give is 5K on an overdraft!

    That certainly wasn't the case. I don't know what their policy is now but my limit was twice that and I know there were other posters with a similar limit.
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