Nationwide VISA Refused

SpaceMagic

Hey all,

I opened a Nationwide account last year to make good use of the e-savings and the free overseas banking. I have been saving my student loan in there and left a little in the FlexAccount (the current account to which the e-savings is linked) just for emergency use (as I have a Natwest Student account).

A friend at uni did exactly the same thing as me, at the same time.

She got a VISA, allowing her to spend over the counter whatever she has in her account.

I got a lowly Cash Card, allowing me to take out only £250 from a cash machine.

Mum opened an account a few months later and got a VISA.

So I went in store and they said that my credit card rating wasn't good enough and recommended I used the current account a bit more. So I've been doing so. I went in again, now about 6 months later, and I was still refused.

Now I don't understand it. I have a lot of money in their bank and I've never ever not paid a bill. I pay off my Natwest MasterCard, phone bill, all bills every month through direct debits. What is going on?

I'm going to Germany in 9 days to start a 13 month work placement (with a constant salary) and the nationwide visa would have helped a lot in emergencies and to pay things off before I get a german account (like expensive deposits for accommodation, as £250 a day from a machine will be a nuisance and unsafe really).

Any advice?

Thank you. SP.

Kilty_2

Nationwide are very picky about who they give a debit card to I'm afraid.

You could try applying for their credit card...

SpaceMagic

Kilty wrote: »

Nationwide are very picky about who they give a debit card to I'm afraid.

You could try applying for their credit card...

Their credit card would give me a limit. But say I had to pay a £1000 deposit for apartment rent (most germans require 3 months rent up front - standard practice), i don't think a credit card would give me that limit. Plus I have a natwest credit card, i don't want another.

If they are going to be picky, I'll just have to take out a significant amount and put it in a different bank. I can be picky too. My mum has said she would also. No one should have the right to decide whether you're going to be a good customer, especially if they have no evidence to the contrary.

Kilty_2

Fine, pay fees for foreign transactions then.

tom188

When you applied you probably did not have enough credit history.

No one should have the right to decide whether you're going to be a good customer

On the contrary it is a bank's (or in this case building society's) duty to ensure that it protects its assets, and if it doesnt have enough information about you it is only prudent to give you minimum facilities.

It is worth noting it is easier to apply for a second flex account and get a visa than to get your existing account upgraded, probably because the latter requires a fresh credit check.

Kilty_2

I presume it'll be difficult for me to get a flexaccount with debit card as soon as I turn 18? (I currently have one with a cash card).

Would like to switch all of my banking to Nationwide but need a debit card

Probably need to stick it out with Halifax or LTSB for a bit....

SpaceMagic

tom188 wrote: »

When you applied you probably did not have enough credit history.

How it is possible that a friend had a VISA at same time. We're the same age. She opened it the same month.

What makes a credit history?

I've had a mobile phone in my name since I was legally able to. I've had other bills in my name. I've paid direct debits forever. Make payments and pay off credit cards all the time. I'm not a light user of my bank accounts, money I earn goes in and out all the time. I opened the account with a substantial amount. How was my credit history sufficient for Natwest to give me a 1400 overdraft and 500 (max for student) credit card, but insufficient for Nationwide, where I'll be saving upwards of £15k. I just don't understand it.

iceicebaby

A bank is not obliged to give anyone any of its services so just as your friend has this card does not automatically entitle you to one.

Kilty_2

SpaceMagic wrote: »

H
I've had a mobile phone in my name since I was legally able to. I've had other bills in my name. I've paid direct debits forever. Make payments and pay off credit cards all the time. I'm not a light user of my bank accounts, money I earn goes in and out all the time. I opened the account with a substantial amount. How was my credit history sufficient for Natwest to give me a 1400 overdraft and 500 (max for student) credit card, but insufficient for Nationwide, where I'll be saving upwards of £15k. I just don't understand it.

Nationwide are extremely strict, probably because they are a building society and not a bank so need to minimise risk.

Try applying for another FlexAccount now that you've had a credit card etc for a period of time - do not ask them to upgrade your existing one, actually ask to open another.

marvin

When I opened my Flex account they refused me a debit card (despite mega discussions with the "branch manager" over it.

This was in 1986 and now, 21 blameless years later they have written to me offering me a debit card. So you could be in for a long wait.

What I have noticed over the years is if I asked at my own branch for anything it was always no. If I asked at another branch it was often yes. No idea why but is, I suppose, one of the benefits of living in a city that you have lots of branches to try.

SpaceMagic

Ok guys. Thanks so far. I'm going to give them one last ring and plead with them, otherwise I'm forced with changing to a different savings account.

Are there any other banks with free usage abroad?