Nationwide FlexDirect - 5% interest, free overdraft

ses6jwg

I just tried to open online and was DECLINED.

Now my credit is pretty good. No late payments or missed payments.

The only couple of things is I did apply for a store card a few weeks ago (accepted)

I also had flex account that I opened only for one of their ISAs which I closed. It was never used, though I did accidently go into an unauthorised overdraft on it once.

Would this have caused it?

BugsyBrowne

ses6jwg wrote: »

I just tried to open online and was DECLINED.

Now my credit is pretty good. No late payments or missed payments.

The only couple of things is I did apply for a store card a few weeks ago (accepted)

I also had flex account that I opened only for one of their ISAs which I closed. It was never used, though I did accidently go into an unauthorised overdraft on it once.

Would this have caused it?

You just didn't fit there criteria for that account.

Anyone's guess is to why you were declined.

callum9999

BugsyBrowne wrote: »

Bank or building society either way they're taking customers as mugs.

As you conveniently ignored it last time, I'll ask again...

How exactly are Nationwide "taking me as a mug" considering I haven't given them a penny yet in return am getting decent free European travel insurance and 5% interest on a large chunk of my savings?

Nine_Lives

Not sure if anyone has had a response on this yet -

3 of us have Flexclusive ISAs with Nationwide @ 4.25%. 1 of the criteria is to pay in £xyz to your FLEXACCOUNT.

If you upgrade your FlexAccount to this account then technically you no longer own a FlexAccount & can't meet the criteria for the Flexclusive ISA & would then lose the interest on that.

Have emailed Nationwide to see if this is correct or whether they 'ok it' if you credit this new account.

innovate

ses6jwg wrote: »

Would this have caused it?

They probably got you down as 'is an employee of the competition' (that's me just speculating)

spexs

Just opened one for OH (she's basic rate and I'm higher rate). Paperwork is on its way and I plan to lodge £2,500 as soon as it arrives. Presumably this takes care of the £1,000 for March and I just have to lodge £1,000 each month thereafter?

plunt

BobQ wrote: »

So if you create a FlexDirect account and deposit £2500 in it and transfer £1000 per month to to a Santander 123 account and transfer £1000 the other way on the same day you get 5% on the NW account and 3% on the 123 account and neither do anything to stop you wasting their time?

recommended this in a previous post, alternatively you can do the same with lloyds vantage accounts

xyz123

Is there any requirements for any DS or SO? Ta

innovate

xyz123 wrote: »

Is there any requirements for any DS or SO? Ta

Did you check the Nationwide website? Did you read this thread? Ta

plunt

nope none that they have announced or mentioned in the t&c's but if you dont do the 1k transfer you wont get the interest that month. though apperantley you can still get the frre overdraft. So depends the purpose of you getting it.

essentially i would make sure you set up an SO for the 1k transfers, but it isnt mandatory