Natwest overdraft increase

Relentless17

Hi everyone! New here so apologies if my post isn't in the correct place . I have also posted this elsewhere but after further delving I don't think it was in the right place at all.

Anyway, in May this year I was on my online banking page and I noticed it said on one part "you are very likely to be approved for an overdraft of £250". I found this quite odd as I had previously applied for an overdraft last year for about £100 and was refused. I had also received an email telling me about arranged overdrafts as I "had incurred unarranged overdraft charges". This is something I have done regularly ever since I had my contactless debit card. I know this isn't a good way of handling money etc. and I know that banks tend to not offer overdrafts to people like me (I am unemployed and have been for a while but not getting into that)! Really strange as I thought they would hate the way I managed my account but I'm not complaining . I was wary about applying for it after being refused the first time as my financial situation was no better, in fact it was probably alot worse due to defaults etc. so I decided to try for £150 since they said £250. And they said yes! You can imagine my surprise lol!

Fast forward to today and I really wish I had gone for the £250! I am tempted to ask for an increase but I am concerned about it being rejected or even worse having my overdraft taken away from me. This is not something I would be able to immediately pay off (obviously or I wouldn't want an increase). I never have any returned payments however I do still go slightly over into an unarranged overdraft. If I apply for an increase will they perform another credit check? And also would it be likely for them to remove my current overdraft?

Dobbibill

Computer says 'yes' - Computer says 'no'
It could do either.

If you are unemployed at the moment you are better to look at why you are using an OD. This is a very expensive form of lending and overdrafts are repayable on demand.

Ask yourself, 'What has changed for you in the time between, not having an OD to now needing to increase it?' If nothing has changed and you are just using it to live until you get another job then it's just going to get worse month on month.

If it's for something specific then pop over to the DFW board for ideas on how to get it, make it, borrow it, hire it another way.

PeacefulWaters

Assuming you don't have the income to support it stop using money that you don't have.

Bonkers.

stclair

Bear in mind the pre-approval limits change every month commonly on the 1st.

One month it could be £100 then £500 the next depending on what information is being fed to them from the CRAs.