Natwest Advantage Gold Account

united66

Hi Folks. Been on the poor credit score accounts with no credit facilities for years now and have finally got on the ladder of a full current account, very happy indeed today. :beer:

A question I have is, I opened the account online, took my id in today and got my account number and sort code and my little booklet explaining the details & perks/benefits of my account. I saw the printouts and she left them on the desk as she went to do my driving licence. On the papers was a part saying: 'credit restricted' and it said NO.

Does this mean I am eligible for credit products with them? I haven't requested an overdraft or credit card as of yet as I am just happy to have a fully functional account for now after years! I am just wondering should I want to apply for an overdraft or credit card if this means I have some form of automatic acceptance? I understand you get credit scored, but I would of been credit scored when I applied for the account I'm taking it!? Correct me if i'm wrong please...But she was asking me If I wanted a credit card and overdraft and I said no for now. Any ideas?

dr_adidas01

I would wait and see Natwest / RBS are notorious for giving out account details, then closing the account once it has gone through final checks a few days later.

I'm not sure if you will be given automatic credit products even if it says credit restricted no, as they like to see good account use and will still probably credit check you when you do apply for these products.

united66

I've never been given details before, especially in branch. With my details. I was refused point blank last year as they sent my application to AVU. This year it was all approved online and I seen it on her sheets so hopefully should be ok.

united66

Infact I've never even had it opened never mind given details. It seems more was able to be verified online this time. Fingers crossed.

BugsyBrowne

Running a current account without an overdraft is like buying a new bike and your not bothered wether it has brakes as you only travel uphill and walk down it but one day your in a hurry and you'll have to ride down that hill as fast as you can and at this time you wish you got the bike with brakes.

madgagoo

I think this refers to whether you we're only eligible for a credit restricted current account. In which case it would have said yes.

There is no guaranteed acceptance on credit products, so sorry to say you aren't preapproved for anything. That said there's nothing to stop you applying, you'd be credit scored like normal.

Might be worth running the account well for 3-6 months as then you'll build up an internal record which they'll take into account as well.

BugsyBrowne

Agree with above many people in the OP's position has opened up a natwest gold current account only to find out they're running basically a basic account which charges money.

chambta

BugsyBrowne wrote: »

Agree with above many people in the OP's position has opened up a natwest gold current account only to find out they're running basically a basic account which charges money.

Except that the Advantage Gold is not a basic account.

united66

Got a text message today to say the account is open and ready to use. The woman in Natwest was actually very honest and helpful and explained all the products that came with it and how to use/activate them. How is this a basic account in what respect exactly? Having thought about it, credit restricted - no, I suppose means I have access to all credit but like someone else said I still need to be scored individually per product. Like another poster said I will just be running the account well for 6 months or so before even thinking of applying.

gettingthere28

Two years back I opened a Natwest Gold Account, done the application online, got the forms back and checked them and returned them, got a text message after about a week to say card had been ordered, went on holiday and came back to card, nice cheque book with woodland animals on it, bank log in details and a letter saying we are closing your account !.

What a complete waste of time !, the letter also said that some one would be sent to collect the card or I could return them to a branch, in the meantime of course having been given the account details I set up payments into it, what a mess trying to sort that out !. When into the branch and handed over everything and took the balance out, the woman at the desk said she has seen it all before !.

So I don't want to be a spoil sport and I really hope it does not happen to you, but Natwest work in funny ways !, I never did find out why as they said in the letter that 'No correspondance would be entered into and their decision was final !'.

BugsyBrowne

chambta wrote: »

Except that the Advantage Gold is not a basic account.

if someone gets a natwest advantage gold without credit facilities means they're a high risk therefor offered no credit products which to me means the customer is more or less treated as a basic account holder hence the customer pays money and natwest gets £150 a year you can see natwests logic.

The natwest gold current account without credit products is not a current account IMO it's an upgraded basic account where the the customer is happy as they have a current account where as natwest are risk free and happier as the customer is paying for the account.