We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Overdraft question
Comments
-
Why do you want to extend your OD ?0
-
Hello there, hope all is well.
I'm considering extending an overdraft, but keep getting told about 'An indicative total charge for credit for this facility'
Can anyone explains what this means as I'm not 100% - does it come out straight away?
Lenders have to give information about how much a credit facility would cost if utilised.
So whatever they are stating is what it would cost you over a year (normally) if you utilised the credit line.
Some lenders have a certain portion of a credit line interest free and then the rest charged at this indicative rate.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards