No wonder people are in debt!!!

Saving_the_family_silver

:(:(:(:(:(:(:(:(

StephenM_2

I presume you've got an Ultimate Reward Account, since that's the account that has a £300 fee-free overdraft. It isn't really fee-free since this account has a monthly fee and the £300 overdraft is one of the features the monthly fee effectively pays for.

Depending on whether you make use of the other account features, you may be better off in the standard Reward Account which doesn't have a £300 fee-free overdraft but doesn't have a monthly fee either.

[Deleted User]

That is one of the ways in which debt `happens`. Something out of the blue occurs and then the debt hole gets bigger and bigger. You have always had to be strong willed and savvy to remain in a debt-free situation throughout life

virgin_moneysaver

an overdraft facility is a limit NOT a target !! ;-)

jen245

How much are you going to make from stoozing £300 when you are paying £15 a month for the account? Seems pointless to me.

Michael_Corleone

^^^ Exactly - no wonder people are in debt!

bendix

Saving_the_family_silver wrote: »

I was on my Halifax account and my average take home is £1500 (depending on overtime) and on my account I can now get £1990 over draft now if wasn't a sensible person I could easily spend all that and then be getting charged £1 a day but really look at the amount I have coming in before paying bills etc I would soon be in debt. so I have taken the £300 (which is fee free) and stoozed it lol well may as well make some free money :rotfl:

Utterly utterly idiotic, and it makes a mockery of your thread title

The 300 is not fee free - it incurs interest.

Honestly, what on earth is wrong the financial savvy of some people?

vaporate

Michael_Corleone wrote: »

^^^ Exactly - no wonder people are in debt!

This thread is a bit of a oxymoron don't you think? lol.

MoneySaverLog

Personally anything more than one months salary is just asking for trouble. Mine is like less than a third, and I'm not going into it. It is really there just as a buffer just in case, and I'm happy with that.

I've been down that road in the past, don't want to go there ever again.

fight_the_power_2

jen245 wrote: »

How much are you going to make from stoozing £300 when you are paying £15 a month for the account? Seems pointless to me.

Must be nice being debt free have forgotten what its like

fight_the_power_2

virgin_moneysaver wrote: »

an overdraft facility is a limit NOT a target !! ;-)

And its also a way of life for a lot of people is it not !! trough no fault of their own , its not always easy to stop hitting the target for some me included