Credit scoring to reduce overdrafts?

akacarlos

Hi,

This is my first post though I've been following MSE for quite some time.

I had the most frustrating phone call with NatWest today. I have been slowly reducing my overdraft and have got to the point where I wanted to reduce it by £1000. Having first of been cut of by NW (not the best start) They then went on to tell me that they could not reduce my overdarft without credit scoring me (which i would most likely fail). I cannot believe that in these days of supposedly 'responsible lending' I am being forced in to keeping a bigger overdraft with this all or nothing approach.

Thoughts? Is this right? Is there a financial body I could take this to?

Calros

500tie

At least they told you what would you have done if they just went ahead and did a credit check you fail and then lose your overdraft altogether?

bigadaj

Just don't use your overdraft facility.

happy_bunny_2

This seems to be very common. Just try and be disciplined paying it off or save to pay it off then tell hem to stuff it and change to a decent bank.

chesky369

Nobody forces you to use an overdraft facility. It's there for emergency situations, it isn't part of your assets.