Natwest overdraft

sturfc54

Hi there, new to the forum, have had a read about & cant find anything regarding overdrafts

I'm useless with money basically to the extent I have around £8000 in debt & have 2 wage arrestments against me (In Scotland) My credit score is very poor, cant remember the exact scoring, however despite this Natwest decided that after having an account with them for around 3 years now they'd offer me an overdraft limit of £250 despite my very poor credit score. I don't know if they're "testing the water" as such, obviously if I try to increase this it comes up about credit scoring etc, however if my credit rating affects the overdraft how can they offer me £250?

bit puzzled!

[Deleted User]

all lenders make their own judgements,and that may or may not inc using a CRA,especially your own bank who have access to all the info they would need to give you a small overdraft limit

sturfc54

Thanks for the reply. do you think over time they would increase the limit depending on how well I manage the £250?

PeacefulWaters

sturfc54 wrote: »

Thanks for the reply. do you think over time they would increase the limit depending on how well I manage the £250?

They might.

But why on earth would you even use it?

Vikipollard

You are looking at this the wrong way round.


You admit you are useless with money, yet want to push the boundaries of a bigger overdraft. If anything, you should be looking to reduce it as part of driving down your debts.

liveyoung

I left Natwest last year as they have introduced a £6 flat rate if you use your agreed over draft.

This was on a graduate account.

MEM62

sturfc54 wrote: »

Thanks for the reply. do you think over time they would increase the limit depending on how well I manage the £250?

By your own admission you are in too much debt. Why are you even considering taking on more???

andyfromotley

I would contact them saying thanks but no thanks. Overdrafts can get very expensive, very quickly.