Nationwide - Overdraft

onthefencepost

Hi,

I recently joined Nationwide and was curious does Nationwide have pre-approved overdraft limits?

Just to add i have had adverse credit in the past but my credit file is clearing up with defaults coming of etc and have held a Aqua card for 6 months with a recent credit limit increase, i just use it and pay it off.

A over draft would be nice to have although i dont need it but its good to have incase i need to dip into it.

Thanks

john1002

They do in the form of a reserve limit, this changes every couple of months depending on usage and money going in, seems there maximum limit is 5000. You also need to have one of there main accounts not the basic one, called flex basic the old cash card account.

If you have a reserve limit of say 1000 then you can ask for an overdraft unto this or anything below without any credit checks even though they say they do, Ive never had one in the 2 years, I increased mine every couple of months.

If you have no reserve showing then you can request an overdraft but it would incur a credit check and scoring. You also will incur one if you want more than your reserve.

John

onthefencepost

Hi there,

Thanks for the response. I've got the Flexplus account with benefits. Nothing is showing at the moment. Like you said its worth waiting for 3-6 months so nationwide can see how the account is being run etc.

chuckley

I've been with them since 2010 and they only just gave the option of one last month on my online thing.

I have adverse credit and a CCJ, but i transfer my full wages to NW each month and pay all my bills from them.

They seems rather strict to me. I only picked £50 though and was immediately accepted.

[Deleted User]

onthefencepost wrote: »

Hi there,

Thanks for the response. I've got the Flexplus account with benefits. Nothing is showing at the moment. Like you said its worth waiting for 3-6 months so nationwide can see how the account is being run etc.

Hi - Did you ever get a reserve limit offered?

I'm at zero, wondering if it'll ever move.

Although I'm glad to have the main FlexDirect accounts just for the 5% regular saver.... Overdraft would be helpful just as a line of unused credit, but not holding much hope!