NatWest overdraft Application Question

gettingthere28

I know when you apply for an overdraft on-line the system will offer a suggested limit.

So if I put in say £100 and the system says I am eligible for say £1000, would I be more likely to be accepted for the £100 rather than be greedy and go for the £1000, as I assume they will still do further checks such as to see if I can afford it, or is it simply based on how I run the account ?.

Thanks

pinkdalek

gettingthere28 wrote: »

I know when you apply for an overdraft on-line the system will offer a suggested limit.

So if I put in say £100 and the system says I am eligible for say £1000, would I be more likely to be accepted for the £100 rather than be greedy and go for the £1000, as I assume they will still do further checks such as to see if I can afford it, or is it simply based on how I run the account ?.

Thanks

I'd interpret it as you would be eligible for the full £1000, but do you need that much? It would be a good amount for a safety net in case your salary was delayed though.

stclair

You would be eligible for £1000.00 pending further checks.

The best way to get a definitive answer would be to apply.

dr_adidas01

pinkdalek wrote: »

I'd interpret it as you would be eligible for the full £1000, but do you need that much? It would be a good amount for a safety net in case your salary was delayed though.

Why do you think £1000 is to much, I have a £3k one on my Halifax account, granted I've never used it, but its there all the same.

gettingthere28

stclair wrote: »

You would be eligible for £1000.00 pending further checks.

The best way to get a definitive answer would be to apply.

Would it be a different type or amount of checking for £100 rather than a £1000, or just the same. And would it be based on how I have run the account. The reason for asking is it is quite new so is there a better time to wait before applying, say 3 or 6 months ?.

stclair

gettingthere28 wrote: »

Would it be a different type or amount of checking for £100 rather than a £1000, or just the same. And would it be based on how I have run the account. The reason for asking is it is quite new so is there a better time to wait before applying, say 3 or 6 months ?.

They will do further checks regardless of what amount you put in.

It will depend on your previous account conduct and external data.

It's recommend you wait 6 months before applying for an overdraft.

Was this previous application overturned?

https://forums.moneysavingexpert.com/discussion/5074749

gettingthere28

stclair wrote: »

They will do further checks regardless of what amount you put in.

It will depend on your previous account conduct and external data.

It's recommend you wait 6 months before applying for an overdraft.

Was this previous application overturned?

https://forums.moneysavingexpert.com/discussion/5074749

Yes after complaining it turns out they had incorrectly put some sort of marker on it which declined it, I was told this had been removed, given £100 a told to apply again, which I did but when it offered an overdraft I said no. The account was opened and so far it is fine.

But I was wondering about the overdraft really just as a safety net, but in view of what happened before I am a bit cautious.

I think I would be happier waiting 6 months as at least that way the wont need to ask for bank statements etc as they will already have them.

stclair

gettingthere28 wrote: »

Yes after complaining it turns out they had incorrectly put some sort of marker on it which declined it, I was told this had been removed, given £100 a told to apply again, which I did but when it offered an overdraft I said no. The account was opened and so far it is fine.

But I was wondering about the overdraft really just as a safety net, but in view of what happened before I am a bit cautious.

I think I would be happier waiting 6 months as at least that way the wont need to ask for bank statements etc as they will already have them.

Firstly it might be useful to update your last thread with your outcome.

I would recommend personally you wait 6 months with it being a new account.

It would appear you have had accounts with natwest and rbs before so they would take thoughs accounts into consideration when making your application.

Has the overdraft ever been increased on this account?

https://forums.moneysavingexpert.com/discussion/2456471

pinkdalek

dr_adidas01 wrote: »

Why do you think £1000 is to much, I have a £3k one on my Halifax account, granted I've never used it, but its there all the same.

Again why have it that much? It shows as available credit and could hinder you getting credit elsewhere.

My point is just because the computer indicates you can have it does not mean you should.

dr_adidas01

pinkdalek wrote: »

Again why have it that much? It shows as available credit and could hinder you getting credit elsewhere.

My point is just because the computer indicates you can have it does not mean you should.

Again why shouldn't I have it? I'm not credit mad and I have had it on the account for over 10 years.

What is your problem with it?

pinkdalek

dr_adidas01 wrote: »

Again why shouldn't I have it? I'm not credit mad and I have had it on the account for over 10 years.

What is your problem with it?

I haven't a problem with it, if anything keep it. I am not the one with a problem here.