RBS Credit Check For Lowering O/Draft?

Attackthebanks

Paid off my RBS overdraft in full, and called them to lower it to a £1000 limit as £2000 is no longer needed.
The adviser said they would have to do a credit check (i assume this is because it's essentially a new overdraft application that replaces and over rides the old one) so i declined for them to do a credit check as i was unsure if this was accurate.

The funny thing is he said that if i asked for the EXACT same thing in my local branch there would NOT be a credit check!

Is this the case or are they just trying to get me in branch to sell me accounts and services i don't need, and the credit check would be done anyway?

Since on-line banking came about I've barely stepped foot inside a branch, (don't have the time or feel the need) so would rather avoid if possible!

Cheers in advance guys.

CLAPTON

if it isn't broken why fix it?

you don't have to use an OD facility just because it's there

leave well alone

alanq

Similar complaint re NatWest which is part of RBS.

https://forums.moneysavingexpert.com/discussion/3950115

Attackthebanks

CLAPTON wrote: »

if it isn't broken why fix it?

you don't have to use an OD facility just because it's there

leave well alone

Not really what i asked, but i know what your saying.

callum9999

CLAPTON wrote: »

if it isn't broken why fix it?

you don't have to use an OD facility just because it's there

leave well alone

Because you don't want £2000 worth of unwanted debt-potential tied to your name when you apply for credit elsewhere?

chambta

I don't think one is actually done but you have to agree to the potential of one being done.

harry999

in branch there is a way to reduce the limit without a credit check being done.

stclair

harry999 wrote: »

in branch there is a way to reduce the limit without a credit check being done.

If the bank think your a risk they may credit score you otherwise it can be done without one, it all just depends on the person and what information they have available to them etc.

chambta

harry999 wrote: »

in branch there is a way to reduce the limit without a credit check being done.

There used to be a way of keying them on 'back office' but not sure they can be done that way any longer and we're not supposed to process them this way.

Lith

And that's why i never have an 'OD' or ever use a 'credit card'

even tho i have a credit card... never use it (no matter how desperate i get)



sometimes i wonder why do people even bother to use a CC OR OD

if it will ruin there life in the future... be wise and if you know you can't afford it then why have it ?


people will NEVER learn

fozmcfc

A credit card can offer protection for purchases, that cash/cheque/debit card cannot.

A cashback credit card give you the opportunity to earn money off vouchers. I have spent roughly £4000 on my 15 months at 0% APR on my M&S card paid no interest and now have money off vouchers to spend.

Over the past 3 years, I haven't paid a single penny in interest on credit cards, yet used the benefits of them including other vouchers.

Credit cards can also come with other benefits such as Travel Insurance.

Used wisely a credit card is well worth having and using.

As for an overdraft, you never know when it may come in useful, particularly if it is interest free also. Not everything in life runs smoothly and occasionally it doesn't hurt for people to dip into their overdraft, but it should never be used constantly in the long term.