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Overdrafts.....
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I have an od with Nationwide and the interest rate is quite reasonable. After the experiences with Sainsburys Credit Card pulling the rug, I do worry that they might just suddenly withdraw it. Fixed rate mortgage ends next July, so I will try and clear it then, when I move to a new lender.
If it was unilaterally withdrawn it really would muck me up and cost me heaps as I pay all the penalty fees for non-payment of debts, and would muck up my credit rating so that I could not just move it to a loan.
Yeah I was living with that same fear as well - but its not in there interest to widthdraw it while money is going in and your paying the interest rate!
I cleared my 1.5k overdraft completly and then they upped it to 5k... so looks like they would prefer you to be negative
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