Nationwide overdraft limit?

MrSilk

Any one else seen this message when looking at overdraft options on Nationwide's internet banking?

Recent levels of activity on your account means that we are unable to increase the amount of your overdraft limit. If you would like to reduce the amount of your overdraft limit please enter a reduced amount below.

Any one know how Nationwide determine what Overdraft limit to provide you? is it by internal score or CRA?

I've had my account for 5 years but for the past year haven't used the account (£100 deposit max), but recently upgraded to FlexDirect and shall be using it as my main current account.

Ta! :cool::cool:

Jaywilz

As far as I know its a combination of the two. the initial amount is based on credit score and after that it is based on internal credit scoring.

goaroundnow

I have asked N/Wide this very question and the quote "recent levels of activity on your account" is, they admit, a little misleading.

Basically that message means that, through both internal and external scoring, you cannot have an increase.

Incidentally, I was also told that if you have a "reserve limit" (which is unlikely if you cannot increase your overdraft), then you would be able to increase your overdraft to this without a credit search. Anything over the reserve limit would trigger a credit check.

This is what I was told anyway.

goaroundnow

ps If you can get a helpful (and naughty) member on the phone or in branch, ask them what your "absolute" limit is. I understand they are not allowed to tell you this but some do.

If it is high, it's a good indication of how Nationwide score you.

Another way to get this information would be to ask what the maximum overdraft you can apply for is.

212

I've had the same message for a while. I maxed the overdraft and never used the account (it's 0%).

I understand it's based on their internal score of you, and mine can't be that great to be fair. I've now moved some direct debits to it and am lower the O/D so my daily average balance improves (look at the chart in online banking. Since I've had the O/D it's averaged £50 under the limit!). So hopefully they let me keep it (the 6 monthly review is coming up soon) as I'll have some active D/Ds, regular payments in and lowering the daily average overdrawn balance by about £1,000+.

They let me have a 50% increase to my credit limit the other week, which was strange, but I'm nowhere near maxing it out! I took it so that they see I still won't max it out, hopefully that's a good plan! It's a hard one, as they now have more exposure to me - but I'm proving I'm using at least one of the products 'sensibly' and well within the limit!

I'm taking all the money out the day before the review anyway... so if it's pulled or lowered I pay it back on my terms and not theirs!

Anyone else got that message with a review date soon? I'd be interested to know what happens!

MrSilk

My max is £100!!!, however the message tends to imply that the account has not been used enough to warrant a bigger overdraft?!

FYI, when I applied for the overdraft they did not do an external CRA check =/.

canopus4

I have had several increases in my overdraft facility with Nationwide.I have noticed they ONLY update every Saturday.If you notice you have a reserve limit Saturday afternoon (Not morning),then on sunday you will be able to increase your overdraft to a bit beyond that reserve limit.In other words,it is completely pointless checking on any other day of the week if youy have no reserve limit on a Saturday.You need to wait a full week before checking again.If you have another current account it is worth transferring money to and from your nationwide account several times on occasion if you want an overdraft.