Nationwide - Overdraft/Credit Card

greenorange

Does anyone know if Nationwide offer pre-approved or internally scored products such as overdrafts and credit cards?

I applied and was accepted for their FlexPlus, but they could not offer an overdraft/credit card.

I'm wondering whether if the account is run well for a period of months, they'll start to offer products.

Archi_Bald

In my experience, you can apply for an overdraft and/or increase in overdraft limit after you have had a well-managed account with them for at least 4-6 months. The amount of overdraft they offer on FlexPlus seems to be tailored to the individual.

Did you try the FlexDirect, which comes with 12 months no-charge on overdrafts? Though not sure whether and how much they will offer in terms of overdrafts - - I have seen reports from £0 to £2,500.

zerog

greenorange wrote: »

Does anyone know if Nationwide offer pre-approved or internally scored products such as overdrafts and credit cards?

I applied and was accepted for their FlexPlus, but they could not offer an overdraft/credit card.

I'm wondering whether if the account is run well for a period of months, they'll start to offer products.

They have a soft search for loans and credit cards, so not necessarily pre-approved but you can check it without affecting your credit rating. Their internet banking tells you your unarranged overdraft limit. If they are prepared to give you an unarranged overdraft of £1000 (like with me), they would probably give you an arranged limit of the same.

Interestingly, I just applied for the Flexdirect and was refused an overdraft, but 5 minutes later I applied for an overdraft on my existing Flexaccount and it was approved...

Also I was not credit checked with Experian or Noddle (and I think they don't use equifax) when I applied for the Select Credit card 3 months after opening a Flexaccount and ISA and depositing the max.

greenorange

Archi_Bald wrote: »

In my experience, you can apply for an overdraft and/or increase in overdraft limit after you have had a well-managed account with them for at least 4-6 months. The amount of overdraft they offer on FlexPlus seems to be tailored to the individual.

Did you try the FlexDirect, which comes with 12 months no-charge on overdrafts? Though not sure whether and how much they will offer in terms of overdrafts - - I have seen reports from £0 to £2,500.

Thanks for the reply. I went straight with the FlexPlus as I need the insurance products.

zerog wrote: »

They have a soft search for loans and credit cards, so not necessarily pre-approved but you can check it without affecting your credit rating. Their internet banking tells you your unarranged overdraft limit. If they are prepared to give you an unarranged overdraft of £1000 (like with me), they would probably give you an arranged limit of the same.

Interestingly, I just applied for the Flexdirect and was refused an overdraft, but 5 minutes later I applied for an overdraft on my existing Flexaccount and it was approved...

Also I was not credit checked with Experian or Noddle (and I think they don't use equifax) when I applied for the Select Credit card 3 months after opening a Flexaccount and ISA and depositing the max.

Thanks for the reply. I've never held an account with Nationwide, but opened a FlexPlus as their insurance products are much cheaper than the £15 I'm paying First Direct, so am switching over.

I cannot login to internet banking yet as all I have received is my welcome pack (very shiny) with my account number and sort code. Does the unarranged overdraft limit they offer online change depending on how you use you account then?

Is Nationwide's internet banking any good? First Directs isn't great, nor is their app.

rb10

greenorange wrote: »

I cannot login to internet banking yet as all I have received is my welcome pack (very shiny) with my account number and sort code. Does the unarranged overdraft limit they offer online change depending on how you use you account then?

Is Nationwide's internet banking any good? First Directs isn't great, nor is their app.

The overdraft limit they offer will depend on your usage, yes.

Once they've seen your salary go in for a few months, and can see that the account is being well managed, then (provided your credit history is also good elsewhere), you can expect to be accepted for an overdraft.

They are generally one of the more prudent lenders - hence why you've not got one yet.

Nationwide's internet banking and mobile app are both significantly better than First Direct's. You may find that you have to use the card reader a few times at first when setting up new payments, but once they've determined your behaviour you'll hardly ever use it again.

greenorange

rb10 wrote: »

The overdraft limit they offer will depend on your usage, yes.

Once they've seen your salary go in for a few months, and can see that the account is being well managed, then (provided your credit history is also good elsewhere), you can expect to be accepted for an overdraft.

They are generally one of the more prudent lenders - hence why you've not got one yet.

Nationwide's internet banking and mobile app are both significantly better than First Direct's. You may find that you have to use the card reader a few times at first when setting up new payments, but once they've determined your behaviour you'll hardly ever use it again.

Great, thank you.

The only thing keeping me with First Direct was they did not use card readers or pin devices. Now they're introducing one, I'm jumping ship.

Nationwide's FlexPlus seems to be great value for what you get. I was worried that their internet banking and app wasn't great, as I've never really heard them being talked about on here, but if they're better than first direct's ancient IB/App, I'll be happy.

Thrugelmir

greenorange wrote: »

I applied and was accepted for their FlexPlus, but they could not offer an overdraft/credit card.

I'm wondering whether if the account is run well for a period of months, they'll start to offer products.

Leaving an overdraft behind?

greenorange

Thrugelmir wrote: »

Leaving an overdraft behind?

I have a £250 interest free overdraft with FD, but I'm in credit.

I have a credit card with a balance on it.

Dr_Cuckoo3

greenorange

Dr_Cuckoo3 wrote: »

Ah, that's interesting. So they do offer pre-approved cards. Did that show on your internet banking or once you'd completed a soft search on the application?

Dr_Cuckoo3

I haven't used the soft search facility - it was on internet banking

They offered a lower APR card (12%) just after I accepted that offer