wont allow overdraft.why?

BartGirl

Hi. I'm with Barclays and have a current account with them which came with a visa electron (now connect) card.
Plus a CC which i freely admit i defaulted on several payments on :embarasse but set up a payment plan with them sometime ago - which i have always honoured.

But this is my question: i've never ever been able to secure an overdraft with them. Why ? Is it because of what happened with the CC in the past ? or is it cos my credit scoring is 'fair?'. I just dont get it..when i spoke to experian recently a kind blokie in there sort of hinted at the fact that Barclays is one of the institutions which is the hardest to obtain credit from..

Whenever i have called in the past requesting an OD the Barc person always says to me 'i can see that there's nothing available to you at the moment'..

I simply dont get it cos

1. i have NO overdr facility - therefore i've never been OD.
2. several years ago i had instances where i was OD cos a payment went out and then i was charged for it, but it would never have been for over £50 and i'd usually resolve that within a day or two - get funds put it to cover it etc.

My connect card aint even a cheque guarantee card!!

What can i do to improve this situation..any ideas?

BASFORDLAD

When they say theres nothing availble to you it just means u need to do a proper application for an overdraft.

CLAPTON

what do you mean about a payment plan for the CC?
and what do you mean you defaulted on payments.

Homework

I think if you went into unauthorised overdraft and were charged and missed credit card payments they would not give you an overdraft. If you are still on a payment plan with them I don't think they would consider that as being ideal either even if you are paying it.

regularsaver1

they will look at the conduct of all accounts with them, and you mention defaults

are you having your salary paid into this account as regular credits are important for an overdraft

sinizterguy

Banks have some sort of internal scoring of credit worthiness, and they only go to external agencies if they cant get a sufficient history from your accounts with them.

As you said, your history with them is not the best - no real reason for them to give you an overdraft which you may default on (looking at previous history, whatever your current situation may be).

MABLE

My feelings are that if you have arranged a payment plan with them it must then mean you have problems paying your credit card account. It is then not surprising they will not consider an overdraft facility when you already have/had difficulties paying back your borrowings. After all they can demand an overdraft be paid back on demand from them. My advice is try and manage without the need of overdrafts.

BartGirl

Thanks everyone for your advice.

Yes my wages get paid into here all the time - the 'blip' I had was when i was struggling for money a while back - but now i pay the CC - over the minimum always - but thru a DD arrangement with barclaycard.

I know its a Godsend that I dont have an overdraft because it simply requires me to 'live within my means'..which is always a good thing - i believe..

brownbabygirl

I agree. They are refusing because of your history with them.
Also as you correctly stated, do not seek for OD. that is asking for trouble!

Stella66

sinizterguy wrote: »

Banks have some sort of internal scoring of credit worthiness, and they only go to external agencies if they cant get a sufficient history from your accounts with them.

As you said, your history with them is not the best - no real reason for them to give you an overdraft which you may default on (looking at previous history, whatever your current situation may be).

Is this the case with all banks or it is just Barclays?

jonesMUFCforever

Stella66 wrote: »

Is this the case with all banks or it is just Barclays?

Most operate the same way.