Overdraft question.

riskyinred

I've consulted the wonderful article written by Martin on Student accounts & noted that most of the overdraft limits are (understandably) on a case-by-case basis. What I was wondering was, if my credit history is likely to be not so good, missed payments on a credit card, for example, what is the liklihood of Natwest/HBOS not giving me the maximum overdraft? In that case, would I be advised to stick with HSBC with their guaranteed overdraft of £1000 in the first year?

Thanks in advance.

BWZN93

Its a possibility that you wont get any o/d, dependant upon how bad your credit rating is. Have you ordered your credit reports? Experian and Equifax do postal versions for £2 that can be ordered online.

If in doubt, then go with the HSBC, you can always try Natwest later and see what happens, but you should already have HSBC - if you get the Natwest one and have the HSBC one, I do recommend choosing one, and getting rid of the OD on the other - and have your student loan paid into the one with the OD as your main account - its part of the T&C's.

Jo xx