Nationwide credit card but got couple of defaults?

nicetomeetyou

I'm unable to get a NW members credit card now as been declined. I have 2 dafaults that drop off my credit report in 2 years, do you think I stand a better chance to reapply in 2 years and likely be offered the members card? I currently have Vanquis credit card and £1000 overdraft with NW. Been managing my finances well for last 4 years.

[Deleted User]

You'll always stand a better chance of being accepted for credit with fewer defaults.

Make sure you stay out of the overdraft.

nicetomeetyou

Deleted_User said:

Make sure you stay out of the overdraft.

Does being in a overdraft have a negative effect on credit worthiness? I would of thought utilising a overdraft but maintaining it sensibly would be positive as it shows your responsible and they can make money of you? Right now I'm only using in £180 of my overdraft out of a £1000 overdraft.

Also why is it easier to get a overdraft than a credit card with banks?

D3xt3r5L4b

nicetomeetyou said:

Deleted_User said:

Make sure you stay out of the overdraft.

Does being in a overdraft have a negative effect on credit worthiness? I would of thought utilising a overdraft but maintaining it sensibly would be positive as it shows your responsible and they can make money of you? Right now I'm only using in £180 of my overdraft out of a £1000 overdraft.

Also why is it easier to get a overdraft than a credit card with banks?

An overdraft means you cannot get by day to day and it should definitely not be used. 

cymruchris

Keep the overdraft - but don't use it - unless it's an absolute emergency with no other option. It's better to use your credit card, and then pay it off in full every month. That's what'll help you build a positive history for a future NW application.