Nationwide - Credit search to increase overdraft?

shortcrust

I have a Nationwide Flexdirect account and want to extend the overdraft in case I need emergency cash on holiday. Does anyone know if they'll record a credit search for this? They do say this....

By sending this request for an overdraft, I authorise you to search, link and/or record information at credit reference agencies about me and my account as set out in the Use of my information section of my FlexAccount application.

.... but I'd like to know how it actually works in practice.

EDIT: Just to add - I don't mind a search, but I don't particularly want a search to be recorded. I'm wondering if existing lenders can access the info without it showing.

MoneySaverLog

They can, they probably won't if they did one recently and can score good internally.

You-kip

shortcrust wrote: »

I have a Nationwide Flexdirect account and want to extend the overdraft in case I need emergency cash on holiday. Does anyone know if they'll record a credit search for this? They do say this....

By sending this request for an overdraft, I authorise you to search, link and/or record information at credit reference agencies about me and my account as set out in the Use of my information section of my FlexAccount application.

.... but I'd like to know how it actually works in practice.

EDIT: Just to add - I don't mind a search, but I don't particularly want a search to be recorded. I'm wondering if existing lenders can access the info without it showing.

No they won't credit search you.

pqrdef

Their agreement with the CRAs is an information-sharing arrangement. They'll report whatever they've agreed to report. The CRAs need banks to report stuff, or they haven't got a product to sell.

Don't worry, an overdraft search won't hurt you.

Archi_Bald

You-kip wrote: »

No they won't credit search you.

How do you know? Are you an insider?

Caladan

I would expect a search to be performed for 2 reasons.

1: Your circumstances may have changed since they last ran a search.
2: CRAs expect most lending requests to be reported to them.

I can't speak for Nationwide, but I know whenever I run an overdraft request a search is performed.

BaxUk

With an increase in your limit, a new search is usually completed by Nwide, to my knowledge, I believe they complete one every time an increase is requested/attempted.

212

I requested a limit last year and got a fairly high one added instantly (2.5k). I then requested 3k and 3.5k within a few days of that (the 3 & 3.5 were requested on the same day). I haven't seen searches from them on any of my reports.

I'm fairly sure it's done on internal scoring (which uses a monthly CRA feed anyway) unless you're new to bank or appeal a decline.