DSAR - Nationwide Credit Score

[Deleted User]

Very interesting - they've hidden under the "it's for business purposes only" which I'd expected them to do, however it does make sense they need to explain it in broad terms - how can we know it is correct otherwise?

I'll go back to them and see what they say!

wizzywig27

Please let us know what they say as I asked for mine and seen this information - didnt query it though

onthefencepost

Got some information on this.

I rang up Nationwide to get a better understanding on this matter.

The score is 1-6 (1 being the lowest and 6 being the highest).
I scored 4 but i don't have a overdraft on the account. The lady told me that I’m eligible for an overdraft.

This I quite important as when I opened my account 3 years ago the bank refused to give me an overdraft at the time.

As I have two current accounts they gave me the same amount of overdraft across two accounts and also told me that I could apply for more if required. I did question what is the upper limit she refused to tell me that I can ask for what ever amount and if its higher than what’s on the system it will by default only allow me to go what there system has determine based on my affordability and management of account.

I don’t want to deviate from the subject of the thread but how does having a overdraft impact your credit worthiness.
Is it like a credit card use it pay it back end of the month and don’t go over the limit? Reason I ask is that I’ve had defaults in the past which have pretty much come off my file bar one and I’m looking to get my own place in the coming years.

Thanks

MABLE

onthefencepost wrote: »

Got some information on this.

I rang up Nationwide to get a better understanding on this matter.

The score is 1-6 (1 being the lowest and 6 being the highest).
I scored 4 but i don't have a overdraft on the account. The lady told me that I!!!8217;m eligible for an overdraft.

This I quite important as when I opened my account 3 years ago the bank refused to give me an overdraft at the time.

As I have two current accounts they gave me the same amount of overdraft across two accounts and also told me that I could apply for more if required. I did question what is the upper limit she refused to tell me that I can ask for what ever amount and if its higher than what!!!8217;s on the system it will by default only allow me to go what there system has determine based on my affordability and management of account.

I don!!!8217;t want to deviate from the subject of the thread but how does having a overdraft impact your credit worthiness.
Is it like a credit card use it pay it back end of the month and don!!!8217;t go over the limit? Reason I ask is that I!!!8217;ve had defaults in the past which have pretty much come off my file bar one and I!!!8217;m looking to get my own place in the coming years.

Thanks

To fiind out what the max overdraft available is to apply on line and put in a high figure and the system will then advise the max you can have or may even accept your figure.

[Deleted User]

Mad, I don!!!8217;t have an OD and not eligible (OD straight decline, no reserve limit) but I guess it could be my current borrowings dragging me down as opposed to a low score. 4/6 I!!!8217;m very happy with - I defaulted with them (this customer profile too!! 4 years back). They haven!!!8217;t replied to my message yet, maybe it!!!8217;s the type of thing they don!!!8217;t particularly want to put in writing!!

john1002

Max overdraft is £5000, you can tell your limit if you look at your reserve limit. Once you have an Overdraft you can have no reserve limit or a reserve limit plus £50.

Example my reserve limit is £5000 and OD is £4950

If I had no OD then I could ask for one up to £5000.

During each month it can change, sometimes it goes, other times it will be £4959 so can!!!8217;t increase.

All depends on credit updates and account usage including credits in.

John

onthefencepost

john1002 wrote: »

Max overdraft is £5000, you can tell your limit if you look at your reserve limit. Once you have an Overdraft you can have no reserve limit or a reserve limit plus £50.

Example my reserve limit is £5000 and OD is £4950

If I had no OD then I could ask for one up to £5000.

During each month it can change, sometimes it goes, other times it will be £4959 so can!!!8217;t increase.

All depends on credit updates and account usage including credits in.

John

Hi sorry for the noob question.

how do I see the reserve?

Ive just seen my overdraft appear on my accounts via the app this morning.

MABLE

I tried my overdraft facility today and allows me up to £4000. However last week it dropped from £2000 max to £350 max.

Apologies to OP for getting off subject.

[Deleted User]

MABLE wrote: »

I tried my overdraft facility today and allows me up to £4000. However last week it dropped from £2000 max to £350 max.

Apologies to OP for getting off subject.

Wow. I remember when I used to have an OD with them it was 1500, then 2500 which I didn’t take, then dropped to 1509, then went back to 2k so I took it, then promptly went to 3k!!

They seem the most transparent in the respect you can see your absolute limit - other banks clearly have one (for unauth OD etc) but dont tell the customer.

I wonder if i will be offered an OD once my car loan is settled and cards paid off (November time). If I am 4/6 it seems likely!

Onthefencepost - go to online banking, then other account services, then your reserve limit. If that’s higher than your OD that’s what you can request instant approval for (unless it ends in a 9 which means they won’t up what you’ve got)

onthefencepost

Somerset_La_La_La wrote: »

Wow. I remember when I used to have an OD with them it was 1500, then 2500 which I didn’t take, then dropped to 1509, then went back to 2k so I took it, then promptly went to 3k!!

They seem the most transparent in the respect you can see your absolute limit - other banks clearly have one (for unauth OD etc) but dont tell the customer.

I wonder if i will be offered an OD once my car loan is settled and cards paid off (November time). If I am 4/6 it seems likely!

Onthefencepost - go to online banking, then other account services, then your reserve limit. If that’s higher than your OD that’s what you can request instant approval for (unless it ends in a 9 which means they won’t up what you’ve got)

Brill I can see it. Its only slightly higher than my overdraft.
Maybe as my overdrafts been added it needs some time to update?