£100 Royal Bank of Scotland switch offer.

Ghostcrawler

trickydicky14 said:

Can I switch a BOS account to RBS?

Of course..one is Lloyds group and another NatWest group. Don't get confused with "Scotland" in the name.

colsten

ischris85 said:

Interestingly, I just applied for a £500 overdraft with RBS and got rejected even though I currently have one with Natwest.

Having an existing overdraft (or five) might well be the reason why you can't get yet another one. Your total currently available credit will be taken into consideration when you are applying for further credit.

funkycredit

colsten said:

ischris85 said:

Interestingly, I just applied for a £500 overdraft with RBS and got rejected even though I currently have one with Natwest.

Having an existing overdraft (or five) might well be the reason why you can't get yet another one. Your total currently available credit will be taken into consideration when you are applying for further credit.

Not sure on this theory as I explained yesterday. I've opened up a rewards with NatWest and was offered a £1k OD. Then I opened a second and got offered the same; ditto with Ulster & RBS - both in the last week. So within the "same month" as the first NatWest search it seems. I'm not sure but as I suggested yesterday, surely if I was allowed £4K I'd have been offered that from NatWest on my first application. 

Just my view on it. It's as though they're not checking existing holdings so keep offering the same overdraft (well in my case anyway). 

colsten

funkycredit said:

colsten said:

ischris85 said:

Interestingly, I just applied for a £500 overdraft with RBS and got rejected even though I currently have one with Natwest.

Having an existing overdraft (or five) might well be the reason why you can't get yet another one. Your total currently available credit will be taken into consideration when you are applying for further credit.

Not sure on this theory as I explained yesterday. I've opened up a rewards with NatWest and was offered a £1k OD. Then I opened a second and got offered the same; ditto with Ulster & RBS - both in the last week. So within the "same month" as the first NatWest search it seems. I'm not sure but as I suggested yesterday, surely if I was allowed £4K I'd have been offered that from NatWest on my first application. 

Just my view on it. It's as though they're not checking existing holdings so keep offering the same overdraft (well in my case anyway). 

I think you might be assuming too much. But then I don't know how their eligibility algorithms work.

What are your reasons for applying for horrendously expensive overdrafts, if I may ask?

funkycredit

I didn't apply for any overdraft. It was offered so I just accepted. The logic is to lower my % of usage as I do want to buy a new car and pay on a 0% CC shortly; saves me paying out of savings hence my using the same savings that I'd be using on the car, messing around with the bank accounts and rates etc. 

Not saying it's the best way but I'm happy with it. 

colsten

funkycredit said:

I didn't apply for any overdraft. It was offered so I just accepted. The logic is to lower my % of usage as I do want to buy a new car and pay on a 0% CC shortly; saves me paying out of savings hence my using the same savings that I'd be using on the car, messing around with the bank accounts and rates etc. 

Not saying it's the best way but I'm happy with it. 

"Messing around" with the most expensive form of credit you can get? 

Glad I don't have to understand this.

funkycredit

It's only expensive if you use it. I've never used an overdraft yet and don't intend to with my remaining years on planet cuckoo. For the same respect, it does no harm by showing you have available credit (albeit unused), thus allowing larger limits when applying for credit which is better suited such as a good cc offer etc. 

colsten

funkycredit said:

It's only expensive if you use it. I've never used an overdraft yet and don't intend to with my remaining years on planet cuckoo. For the same respect, it does no harm by showing you have available credit (albeit unused), thus allowing larger limits when applying for credit which is better suited such as a good cc offer etc. 

I think it works in exactly the opposite way you describe. The available credit shows in your credit reference files. When you apply for additional credit, a lender will add up your existing facilities and then decide whether snd how much of an additional credit they will grant. But don‘t take my word for it, check with CRA recommendations.

masonic

funkycredit said:

colsten said:

ischris85 said:

Interestingly, I just applied for a £500 overdraft with RBS and got rejected even though I currently have one with Natwest.

Having an existing overdraft (or five) might well be the reason why you can't get yet another one. Your total currently available credit will be taken into consideration when you are applying for further credit.

Not sure on this theory as I explained yesterday. I've opened up a rewards with NatWest and was offered a £1k OD. Then I opened a second and got offered the same; ditto with Ulster & RBS - both in the last week. So within the "same month" as the first NatWest search it seems. I'm not sure but as I suggested yesterday, surely if I was allowed £4K I'd have been offered that from NatWest on my first application. 

Just my view on it. It's as though they're not checking existing holdings so keep offering the same overdraft (well in my case anyway). 

Didn't someone else get all of their accounts closed down during the Santander switching bonanza last year for opening multiple accounts at the same bank within a short space of time, each with a large overdraft, as the bank believed they were obtaining credit by deception?

Edit: https://forums.moneysavingexpert.com/discussion/comment/75754163/#Comment_75754163

dggar

Received my debit card and pin today in the same postal delivery.(in separate envelopes)
The card seems thinner than all my other cards and nothing is embossed on it.
It also only has the sort code on it, no account number.
I was also surprised to find that it can't be read in the card readers that I have from Co-oP and Nationwide.
So I've had to order a card reader from RBS (5-7 working days for delivery) in order to be able top set up payees.