Opinions please (overdraft query)

opinions4u

<sigh>

Posts deleted for stating, honestly, what the situation is.

Money-Saving-King

inthedeep wrote: »

I was just wanting to know if they had mis-applied the overdraft (maybe mis-selling has caused confusion) to someone who couldn't afford to pay it off on demand.

What is your actual motive for wanting to know this?

inthedeep

What you believe the situation to be and what the situation actually is differs.

I'm new the MSE and I just wanted an opinion. Started after a discussion with my partner who works for a bank and a few friends over dinner last weekend; the table were divided. My partner, who works for one of the UK's larger banks, believes mis-selling wasn't the word but advises her bank wouldn't provide lending to someone who, for the last 7-8 months has lived in the lower quartile of their overdraft. Apparently banks have limits and depending on how you manage your account depends on any agreed overdraft, loans and mortgages etc you could be entitled to.

All I wanted to know is what I asked, there is absolutely no motive behind me asking the question or behind my thread.

As advised previously I'm going to stick to the welcoming part of the forum where people tend to be substantially less judgemental.

I'm not responding anymore to this thread. Read this thread and, should you think I'm out to get my overdraft wipe off that's your prerogative. I know the truth.

BugsyBrowne

opinions4u wrote: »

<sigh>

Posts deleted for stating, honestly, what the situation is.

I deleted mine incase the Mods had another pop but yours were spot on.

Money-Saving-King

inthedeep wrote: »

I only earn 1.2k per month after deductions; yet my OD is 1.75k and I have a suspicion I could increase again should I want to (FYI, I do not want to, lol).

Ok back to your original question then. If you went to a credit card with a salary of 1.2k they would probably if you have a good/average credit score (assuming your fairly typical you say you've not asked for an overdraft before) give you a credit limit of much higher than 1.75k so I don't see that the banks which follow a similar selection process for overdrafts or credit have done miss-applied your overdraft.

It does seem a bit bizarre though to take a dinner party discussion that you couldn't agree on to an internet forum! You did bring up the word bandwagon and your post does seem a bit of the jumping on the complaining about banks bandwagon.

molerat

Go to the housing and small business forums and the banks are getting slated for not lending enough.
Go to DFW and they are getting slated for lending too much.
People are complaining they had to go to PDL companies because the bank would not lend.
Credit card companies are getting slated for only allowing £300 limits.
Credit card companies are getting slated for increasing limits.
Whatever the banks do they are in the wrong.

My CC limit is 12 times my monthly net income, do I go spend it all ?

pmduk

inthedeep wrote: »

My partner, who works for one of the UK's larger banks, believes mis-selling wasn't the word but advises her bank wouldn't provide lending to someone who, for the last 7-8 months has lived in the lower quartile of their overdraft.

You should read the not infrequent howls of protest when people find out their bank takes this attitude.