Graduate overdraft about to end

huehuehue

I graduated last year and have a graduate account with the co-op bank. At some point this year the £2000 interest free overdraft limit will be disappearing, even though I am a considerable way into it.

I have been to speak to other banks about switching (as almost all offer a better graduate deal) however the problem I am finding is that they won't transfer my overdraft from the co-op bank; instead they want to have me open a new graduate account and then assess how much of an overdraft they can give me at a later time.

This all seems a bit uncertain and I am thinking that the best option for me is to just leave my overdraft with co-op until I can finish paying it off. Am I correct in thinking that the only downside to this is the fees on the amount I am overdrawn (i.e. there will be no bad credit record etc)?

If it makes any difference I have an okay paying graduate job (27K) and no other debt/credit cards.

Thanks in advance for any advice you can offer :money:

Archi_Bald

Have you looked into shifting your loan to a 0% credit card?

huehuehue

Archi_Bald wrote: »

Have you looked into shifting your loan to a 0% credit card?

I hadn't but that would make sense. I have been offered a £500 card before by Lloyds which would cover some of what I owe, I'm not sure I'd be able to get one for the full amount though.

Edit: I have checked the credit card calculator on the site and am 90% likely to be eligible for a BarclayCard or similar but am not seeing any mention of a credit limit. Is this something decided on a case by case basis? I am guessing this would be negatively effected by the fact I haven't had a card before so have no credit history.