need a low interest overdraft asap

jimtrent

HSBC are whacking my yearly interest up to 20% (from student 0%) as of next month, so i'd like to get a 0% (or near) long term overdraft facility till i get it sorted.

i saw that santander are doing one at the moment.

any other offers I should know about ? I am no longer a student and would be paying in £1000 + a month, also overdraft is about 800 or so at the moment

thanks

jambosans

jimtrent wrote: »

I am no longer a student and would be paying in £1000 + a month, also overdraft is about 800 or so at the moment

What about a graduate account?

jimtrent

cool will check it out. although, I think my student account turned into a graduate account ( i graduated nearly two years ago) so i might be past all that!

jimtrent

anyone else got any ideas/experiences with santander? i think the account i saw is called a "zero "

Sharon87

Santander tend to have rubbish customers based on the comments on here. How about a 0% CC and put your cash towards to paying off your overdraft?

How large is the overdraft, got enough money to pay certain amount off a month? Say £100-£200 a month, it will be almost gone by the end of the year (assuming it's a £1500 like I was given with HSBC)

jambosans

Sharon87 wrote: »

Santander tend to have rubbish customers based on the comments on here. How about a 0% CC and put your cash towards to paying off your overdraft?

:rotfl:

I think you mean: "Santander tend to have rubbish customer service....".

Degenerate

You won't get a Santander Zero account without having a mortgage or £10K savings/investments with them.

It's probably not the one you want anyway. Zero is best if you only occasionally dip a relatively small amount into your overdraft, but if you have a substantial overdraft you're carrying month to month then the "preferred" account works out better at £5 a month for your overdraft regardless of the amount. For £800 you'd pay £8.60 a month on the 12.9% rate of the Zero account.

jimtrent

Sharon87 wrote: »

Santander tend to have rubbish customers based on the comments on here. How about a 0% CC and put your cash towards to paying off your overdraft?

How large is the overdraft, got enough money to pay certain amount off a month? Say £100-£200 a month, it will be almost gone by the end of the year (assuming it's a £1500 like I was given with HSBC)

they gave me a £1500 overdraft (HSBC) but i also have a 0% CC balance transfer. times is hard!
Do you think I could get another 0% CC?

YorkshireBoy

Is your existing current account ever returned to the black? ie when your salary is paid. Or are you permanently sat in it? If the latter, then you may struggle to get a decent overdraft match at 0% with Santander.

Many providers will waive any interest and fees during an account switch (for 90-120 days or so). That may be an option for you if you're prepared to formally switch?

Regards the credit card, MBNA will pay 0% cash into your current account for up to 18 months. There's a 4% fee. Alternatively, M&S Sterling TCs may be an option at 0% for 15 months for a 1% fee.

jimtrent

YorkshireBoy wrote: »

Is your existing current account ever returned to the black? ie when your salary is paid. Or are you permanently sat in it? If the latter, then you may struggle to get a decent overdraft match at 0% with Santander.

Many providers will waive any interest and fees during an account switch (for 90-120 days or so). That may be an option for you if you're prepared to formally switch?

Regards the credit card, MBNA will pay 0% cash into your current account for up to 18 months. There's a 4% fee. Alternatively, M&S Sterling TCs may be an option at 0% for 15 months for a 1% fee.

thanks, well It does occasionally go into the black, bit of a problem as I'm not being paid at the moment (this will change soon!)

is it easy to get more than 1 credit card? i would rather have debts on 0% credit cards than depress my bank account!

YorkshireBoy

jimtrent wrote: »

is it easy to get more than 1 credit card?

Not if you're not in paid employment!