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Natwest Graduate Account Ending (Overdraft charges)
philspam
Posts: 13 Forumite
Hi all,
I have a Natwest Graduate account, but in the next couple of months it will be ending and I will be put on a 'standard' account. At the end of the month before my next pay check I will be at least £1000 overdrawn and only able to pay off at most £200 a month. I have started budgeting and watching my spending by using YNAB, but I am still worried about being hit by overdraft fees and interest.
I had a meeting with the bank a few months ago and they said a loan would not be beneficial due to being quoted the same interest rate as my OD and credit cards. They also tried applying for a transfer card, but I got rejected.
My credit rating isn't very good due to racking up debt of about £4500 on cards - however, my parents have been kind to lend me the money, to nullify the interest, and I will pay them a standing order each month. This money will be coming through this week. So, how long would it take for my rating to drop, and maybe I could get a transfer card?
Can anyone recommend maybe a new account I could switch to or another solution to help me save money on fees and interest? Or am I over worrying about this?
Thanks for your time.
I have a Natwest Graduate account, but in the next couple of months it will be ending and I will be put on a 'standard' account. At the end of the month before my next pay check I will be at least £1000 overdrawn and only able to pay off at most £200 a month. I have started budgeting and watching my spending by using YNAB, but I am still worried about being hit by overdraft fees and interest.
I had a meeting with the bank a few months ago and they said a loan would not be beneficial due to being quoted the same interest rate as my OD and credit cards. They also tried applying for a transfer card, but I got rejected.
My credit rating isn't very good due to racking up debt of about £4500 on cards - however, my parents have been kind to lend me the money, to nullify the interest, and I will pay them a standing order each month. This money will be coming through this week. So, how long would it take for my rating to drop, and maybe I could get a transfer card?
Can anyone recommend maybe a new account I could switch to or another solution to help me save money on fees and interest? Or am I over worrying about this?
Thanks for your time.
0
Comments
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Any advice?0
-
You've tried to, but can't, borrow money for a lower rate than you currently have, so your parents are lending you the money, interest free.
It seems as though you already have a solution.0
This discussion has been closed.
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