New Halifax Overdraft Charges
Comments
-
paulnjulia wrote: »To be fair, Howard has moved on to Hotels now!! :rotfl: lol. But really Wizzy, this should be the best motivation for you to sort out the borrowing and get yourself out of any hole you may be in. I think Halifax have out lived their 'fabulousness' now, far away from the good old reward accounts of yesteryear.
Take care and all the best.
I am trying I really am. It's one step forward two steps back it really is.
I wish I had the money to close the account and move on0 -
I have found I can't get a loan elsewhere at the mo either. MSE credit club suggested Halifax but it was declined.wizzywig27 wrote: »My credit history lol. Utilising a lot of my available credit I'm afraid
50% off until Feb 2018 is helpful though - I think I will be able to pay mine down by then, if they allow me this because luckily my income has increased recently by £300 per month. If it hadn't I don't know what I would do and it still won't be easy as overdraft is £2400 at the mo!
I tried Starling too and no overdraft offer. So yes for those of us stuck at maxed out have no option to shift and will pay extortionate fees at least for a while.0 -
I moved mine to a virgin money card to avoid the new charges. Have got 0% for 3 yrs and it only was a 1.99% fee(??no more than 2%).
Sorry if you've mentioned this already, I skipped to the last page.
There was also a 4 yr 0% one but the fee was higher and I plan to have mine paid before the 3 years.
Hope this helps a few people.£1000 Emergency fund challenge #225 - £1000.00.00/£1000- End of Baby Step 3 (A work in progress)0 -
jonesMUFCforever wrote: »Have you actually sat down with someone from Halifax to discuss this?
You may think that your credit rating is rubbish but I believe that they will help you - they may give you a loan purely on the understanding that you will no longer be allowed an overdraft - which is why I told you yonks ago at the beginning of the thread to sort out your finances so that your income is at least equal to your expenditure (from now on).
Not having a go mate, but I did ask what you meant and didn't get a reply....
He didn't seem to want to help today. I waited 7 days for a call back for them to tell me what I'd been told 9 days ago.
I did express my dissatisfaction to the FCA too - most people will probably laugh at this but at least feel like I am trying, even though I know they won't do anything about it0 -
I don't know if this will help, but it might be worth a try, I'm also with Halifax and have an overdraft. At the beginning of this month (before I know about the changes in the charges) I switched a dormant account to them, just being lazy and couldn't be bothered to ring the other bank up to close the account. A week ago I had a letter from Halifax to say I wouldn't get the switching bonus as I had previously received this which I expected, but they would give me my overdraft free for 6 months, which I wasn't expecting.
This gives me enough time to pay back my overdraft, so might be worth trying, even if you need to open another account just to switch.
The account I switched was only open for a few months, and didn't have and dd's or regular payments, and at the time I switched it had a zero balance.0 -
I *know* that fees aren't interest. I know the overdraft isn't a credit card, but in my view the principle of rate jacking and rejecting new rates could apply here:
http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases
If they don't play ball, try a formal complaint on these grounds.0 -
I *know* that fees aren't interest. I know the overdraft isn't a credit card, but in my view the principle of rate jacking and rejecting new rates could apply here:
http://www.moneysavingexpert.com/reclaim/credit-card-interest-rate-increases
If they don't play ball, try a formal complaint on these grounds.
That's actually very interesting, especially the section on complaining to the FSO. I asked Halifax to consider this option and guess what, they said no..
They have not offered me ANYTHING (yet)...suggested I would be offered the option of delaying the inevitable by 2-3 months. Why on earth they think three months will make a difference is beyond me!0 -
I don't think that's going to be any use to you, the main reason being they're different products and an overdraft doesn't have a contractual monthly minimum payment. With a card, at least the debt would eventually(!) be paid down if they fixed the interest rate and removed access to further spending.wizzywig27 wrote: »That's actually very interesting, especially the section on complaining to the FSO. I asked Halifax to consider this option and guess what, they said no..
I asked earlier in the thread if, bearing in mind you say you can't trim your outgoings any further, and other loans don't seem to be available, you were looking to increase your income (which would appear to be the only other option open to you). I didn't get an answer. Perhaps you don't want to answer? But to me a few hours a week pulling pints down the local or stacking shelves 2 or 3 nights a week in Tesco would certainly come in handy at the moment. Indeed, it would have come in handy when you were paying £30 a month. Any progress made in this area? You've said several times so far that you're "trying", so what, exactly, is it you're "trying" to do...because to me (from what you've said so far) the only thing worth "trying" is increasing your income...isn't it?
And finally, only you know the scale of your problems...so if you're stuffed anyway, why not try a couple of speculative applications for money transfer cards from the likes of MBNA and/or Virgin?0 -
I'm afraid that my current employment means I am unable to seek additional employment due to my contractual terms so unfortunately that is a no go.
There also has to be jobs available to apply for, and I have to be successful at interview etc. So, imo this is not a quick solution even if it was an option. Also regarding tax on a second job, wouldn't this push me into a higher rate of tax? Although I'm no expert regarding this.0 -
wizzywig27 wrote: »I'm afraid that my current employment means I am unable to seek additional employment due to my contractual terms so unfortunately that is a no go.
There also has to be jobs available to apply for, and I have to be successful at interview etc. So, imo this is not a quick solution even if it was an option. Also regarding tax on a second job, wouldn't this push me into a higher rate of tax? Although I'm no expert regarding this.
You're good at putting obstacles in the way of potential solutions.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards