in limbo. closed old account and denied new one. student in need of help!

wookiedai

Hi folks my name is Dai I'm a 26 year old mature student. I've run into some difficulties firstly with my original bank (barclays) and the opening of a new account (co-op).
barclays would not give me a student overdraft due to my poor credit rating so i shopped around for a better deal. came upon this site and saw that co-operative were offering a good deal with £1400 interest free on student account overdrafts if the account were activated with a minimum of £350. I applied online and once i received paperwork i filled it in with all relevant documents to prove i was a student and my funding for the year and posted them back. with that ball rolling i proceeded to close my old account with barclays and have the money from that account ready to credit into the co-operative account thus hopefully giving me access to the overdraft and me being able to pay me rent this term. sadly i have received a letter back from the co-op saying my credit score is poor, so poor in fact that cannot offer me the account at all. rent is now overdue and i'm sat with the necessary funds to open something but what?

the final twist in the tale is that i've been underpaid my funding this term by student finance wales after confusion with my entitlement last term saw me overpaid by a few hundred pounds. i've kept this money available (for a a rainy day) but it still leaves me well short of my target amount to pay rent.

any help or possible ideas that could help would be most greatly appreciated.

notts_phil

Open a basic account with a building society or a bank....

wookiedai

i'm aware of a basic account as a place to put my money it just doesn't resolve my issue with the remaining deficit for rent. thanks though.

jay-1

I can't help but it might be an idea to post this in the student money saving board aswel.

jonesMUFCforever

OP a basic account is the best account you will get!
There must be a reason why firstly Barclays refused you a student account and then the Coop.

Can only suggest you speak to a counsellor at the college.

notts_phil

You assume you are entitled to overdraft. You are not!

Why don't you get a job rather than assuming because you are a stydent that you should get an.overdraft.

thatsean

Notts_Phil - not helpful

OP - Your credit doesn't quality you for lending, that's the top and bottom of it. No matter what your old budget WAS, you now need to work it out as ending at £0, rather than -£1,400 or whatever. The debt free and student boards will help you do this, or, if you post an incoming/outgoings statement, you'll get excellent advice here.