Nationwide make me sadface :(

izools

It's such a pity Nationwide are being naughty with me as of late.

They have just updated all of my credit files to show that I am £2,800 overdrawn against a £500 overdraft limit!

Yeah, my credit files say I am £2,300 over my OD limit.

I admit I was £2,800 overdrawn at one point, but at that time I had a £5,000 limit. The limit was reduced by me to £500, but only after I was back in the black.

I raised disputes via Equifax and Experian, guess what they came back to Equifax saying?

"If the customer wants to use their facility they need to contact the branch".

Yeah, because that's what I asked about...

Needless to say I've sent a formal written complaint but just thought I'd share my experiences thus far in case anyone else is with Nationwide and has recently changed their OD limit, they might want to check their credit files.

BugsyBrowne

Why did you decide to reduce your OD limit in the first place?

izools

I only increased it to £5,000 because my car blew up and needed a replacement there and then; disabled partner and cross-county commute to work.

The miles I do and requirements of my OH means no suitable car could be bought for what I had in the bank at that time so I took what was available to me, bought a suitable car, repaid it swiftly, and reduced the limit back to a sane level when back in the black; seems the most sensible thing to do.

I don't really earn enough to justify anything like a £5,000 OD long term, or even medium term. I doubt many people do...

...Although I do think that's somewhat scarcely the point. The point is they reported false data causing a severe detriment to my credit worthiness. I have never been, and am not, £2,300 over my agreed OD limit.

EDIT: If they want to send experian et al data pulled from my account when I was £2,800 OD balance, fine, report accurately that I had a £5,000 limit at the time.

If they want to send Experian et al data pulled from my account when I had a £500 OD limit, fine, report accurately that I had a £0 OD balance at the time.

/rant

I'm sure they'll sort it out soon enough :beer:

BugsyBrowne

Like you say it should sort itself out in the end,its just the time consuming part that is the pants.

innovate

Strange. Last night you were singing the praises of Nationwide. So did it all turn out not to be true? Or a massive misunderstanding?

izools wrote: »

I don't know if it counts true for the FlexDirect Plus but shortly after I switched from a Flex Account to Flex Direct, I had to increase my OD limit to £5,000 as my car fell flat on it's face (automatic gearbox) so had to replace it double quick (I have a severely disabled partner and work in another county).

I was over £4,000 overdrawn for a few weeks, and my total charge, £0.00.

I queried whether I would get charged at any point in the future but they said the OD was fee and interest free for three months - even as an existing customer upgrading!

Awesome interest rate that, well chuffed

izools

Yes, everything you quoted me as saying is absolutely correct.

Unfortunately the way they report overdraft balances and limit data to credit reference agencies doesn't quite work properly if reduce your limit shortly after having used some of a higher limit.

Like I say, it's a real pity Nationwide have done this and upset me as I had been so impressed with them so far...

stclair

You should have reduced your overdraft once your CAIS has been updated. All banks do this when a customer chooses to reduced their overdraft.

As long as its still reported as a green it won't matter really to be honest if its just for one month.

It's just the same as another lender will not know if it was you or the bank that reduced the overdraft.

izools

stclair wrote: »

You should have reduced your overdraft once your CAIS has been updated. All banks do this when a customer chooses to reduced their overdraft.

As long as its still reported as a green it won't matter really to be honest if its just for one month.

It's just the same as another lender will not know if it was you or the bank that reduced the overdraft.

It's made a massive difference! It says I have an available credit average of £0 and my used credit ratio is 140%!

You can't expect me to believe that even historical data suggesting that I was £2,300 won't have a negative effect, of course it would.

The data is wrong, and I'm not moving one millimetre until it's resolved.

I don't mind that it shows the reduced limit, and I know the third party lenders won't know if it was I or them that reduced it, I'm happy for Nationwide to report my now smaller more sensible limit, that's why I asked them to drop it back to £500 in the first place but I was only ever £0 overdrawn against the £500 limit.

They've reported OD balance from the end of Jan and OD Limit from the end of Feb as being a snapshot from the same day, if that makes sense?

Farside

Nationwide are crap, But so are all banks... Apparently lol. I've had nothing but problems with NW this year and last year, Just when i needed them the most too. Typical.

innovate

Farside wrote: »

Nationwide are crap, But so are all banks...

I am sure they all speak highly of you too.

guesswho2000

Farside wrote: »

Nationwide are crap, But so are all banks...

But Nationwide are a Building Society...and better than a bank, so they keep telling us!