Halifax BOS Overdraft

auto-man

Just wondering if anyone knows how long till you build a behaviour score with BOS before they allow overdraft or lending like cards?

I open account in June and pay in £3,000pm to fund the account, then move it out a few days later. I have a £100 od but when I try and enter 9999 to see the guarantee it says £100. I guess it is because I am new?

I wonder how long before a profile is build up, or at least how long before the £100 will be allowed to go higher? I probably won't use it much but handy to have and really want the reward credit card to get more free fivers from them but heard that having a od was best way to get on lending stream with bank of scotland.

anyone got any ideas to help please? thanks

opinions4u

6 months or longer is usually the time period before a higher limit will be considered.

Remember the £1 a day charge for using the overdraft though.

auto-man

opinions4u wrote: »

6 months or longer is usually the time period before a higher limit will be considered.

Remember the £1 a day charge for using the overdraft though.

Hi and thanks. so are you saying that everyone gets £100 until month 6?

I keep getting offers for a credit card but never clicked apply as thought i would get refused! :beer:

backinbusiness

initial overdraft does vary but 6 months behaviour score will influence the decision

auto-man

backinbusiness wrote: »

initial overdraft does vary but 6 months behaviour score will influence the decision

would you say best to wait before apply for credit card, also 6 month?

jalexa

auto-man wrote: »

Just wondering if anyone knows how long till you build a behaviour score with BOS

I open account in June and pay in £3,000pm to fund the account, then move it out a few days later.

Well that depends. Are you saying you are just re-cycling the £3000? Or you have monthly outgoings of £3000?

The point is when/if you apply for a credit card "affordabilty" will be checked against "numbers" you provide in the application. If you want credit the lender looks for an *ability* to pay, not just "behaviour". £3000 in/out will not look that good.

TBH, the only way you will find out what they think is to make an application. As long as you don't make more than a few applications in any 6 month period your credit rating will not be adversely affected.

YorkshireBoy

jalexa wrote: »

Well that depends. Are you saying you are just re-cycling the £3000? Or you have monthly outgoings of £3000?

The point is when/if you apply for a credit card "affordabilty" will be checked against "numbers" you provide in the application. If you want credit the lender looks for an *ability* to pay, not just "behaviour". £3000 in/out will not look that good.

With Halifax (and so BoS too?) it does though...in my experience/opinion.

I've built up a decent credit rating with Halifax over the years (I know the OP has only been there a matter of months) by cycling funds through there. Like the OP, mine run into many £K per month. Halifax must see this 'throughput' in a positive way because I've had 5 or 6 pre-approved (no CRA search) credit cards in as many years. As soon as one card is cancelled at the end of a 0% promotion, another pre-approved offer is made...sometimes only weeks later.

I do agree though, that if you have a £3K salary (paid by BACS Direct Credit for example) and debits (consisting purely of DD's, debit card purchases, and ATM withdrawals) totalling the same £3K it won't be viewed as favourably.

auto-man

Thanks for above help. So to clarify are you suggesting that by my using the account as my main account it will look better than if I just pass funds through it? I literally pay in £3k on 25th and move £2500 back about a week later and spend £400 on debit card and cheque/cash purchases leaving £100 carry forward each month. But am oy in my 3rd month.

I get the offer of a card when I log in at the splash page. But it not guaranteed or anything. Just pre approved I think.

auto-man

YorkshireBoy wrote: »

I do agree though, that if you have a £3K salary (paid by BACS Direct Credit for example) and debits (consisting purely of DD's, debit card purchases, and ATM withdrawals) totalling the same £3K it won't be viewed as favourably.

do you mean it'll be viewed less favourably paying my salary in? My salary is only £25k but I have £30k of savings from past job and house sale which I use £3k to move into HBOS then replenish the £500 spent from my actual salary.

My savings are with Coventry not bos.

I'm confused with your post if you could please help. Thankyou.

chanz4

halifax are not pre-approved unless they say so

auto-man

chanz4 wrote: »

halifax are not pre-approved unless they say so

Double Dutch ?

Please explain?