So how much money "could" you access?

bandraoi

have been thinking about this.

I looked at my online banking again recently,
They're now offering me a £2500 overdraft, no questions asked, just tick the box. There's £1000 worth available on a credit card and E2500 on a credit card at home.

That's several months salary I could spend with absolutely no questions or queries.

My bank also keep sending me loan offers for £13,000. In fact they sent me one and then they sent me a reminder, in case I hadn't noticed.
I get regular offers of credit cards, carphone warehouse up my limit everytime they feel like it, I reckon with one phone call both my credit cards would up the limit too.

Without answering a question I could get my hands on £5K, with a few ticked boxes I could probably get my hands on a years salary.

THAT IS INSANE.

immoral_angeluk

Well we've £137 in the bank and I personally have a credit card with a limit of £900 but with only £93 left on it. Noone would give me an overdraft or another card. I personally right now could get £230. Quite sad really isn't it?

Snaggles

I could access £3k on my credit card, plus they would agree me another £6k without any further assessment, about £1500 on various overdrafts, I've been pre-approved a loan of £8k, and could borrow £5k on my offset mortgage. That's about twice what I currently earn as I'm on maternity leave, and is more than my 'normal' annual salary! Mad!!

hbl_2

For a while my 'available credit' was something close to £11,000.

This comprised of:

Credit card £4400
Credit card £3000
Credit card £1000
Overdraft £2000.

My credit rating must be pretty good! I think I only ever used £3000 of it tops, and now I use about £1000 (and have binned off two of the credit cards).

Slightly worrying, I agree, but for me it's a pretty good barometer for self-control!

yellowmonkey

I was in the same boat and maxed them all out and am now in debt!!!.

I never want credit again but funnily enough i have an O/Draft available for £150 if i want it no questions asked. Will not be using it though :rotfl:

ym

Shineyhappy

Hmmm,

No idea about what loans I could get but if I maxed out my current cards I could get around 7k of further without applying for a loan or any more cards. I dread to think how much debt I could be in if I actually tried to get the most amount of credit possible.

It would be scary to find out how far in debt I could get if I applied for every loan/store card or credit card I was offered *shudders to herself*

Seaxwyn

I already have debts far bigger than my annual earnings yet I have available to me:

• over £4,000 unused overdraft
• a brand new credit card with £7,500 available
• £2,000 on another card.

So that's £13,500 without even asking for more.

My OH, who hasn't been in credit for well over a decade, has £10,000 availalbe on his card.

I never intend to use further credit but just think what trouble we could get ourselves into. We're already struggling.

bandraoi

With my overdraft, I couldn't help but wonder if they deliberately set it at over a months salary, that way if you use it, you never clear it, even for a few days a month and the bank makes alot more money.

lynzpower

i got offered a 10k loan "for a holiday" once when i phoned to close my credit card.

thats frightening.

I have just cklosed another overdraft off today, so i shall await LTSB offering me further loans :rolleyes:

Seaxwyn

THey could also be doing it to reap charges.

Last year I had a £5k overdraft limit. When I was 'only' around £2,500 overdrawn my card started getting refused. I rang the bank to ask why and they had, without informing me, reduced the limit to £2,500. Several charges had been applied. I'm glad to say I got these back, and was happy with the new lower limit.

Nine months later, when my earnings had dropped drastically, the bank wrote to tell me they had increased my limit to £3,750.


THat's NatWest and I was very glad to take my overdraft to A&L.

newlywed

In debt nearly 2x my yearly wage. Still had about 4k available on catalogues.

Now, don't want any credit again. Once this is all paid off I'll be saving instead.