Temporarily borrow money

digitalwolf

digitalwolf

digitalwolf

Soldato
Joined
27 Mar 2004
Posts
3,589
Location
England
It's football season ticket renewal time and if I renew before the 13th, I get the ticket for a cheaper price than I would in June. I usually save up for it and pay it off in June.

I have enough funds to pay for the ticket but for petrol/direct debits etc i'll be pushing my balance.

I could do with borrowing £100 until the end of the month to see me through.

I have no overdraft and was wondering if this was worth looking into?

How do they work etc as I have never really paid much attention to them.
 
Just ring your bank and ask. They can often action things like this over the phone.

If you've been with them a while and been responsible with your money (no charges, money flowing in/out etc.) then I don't see any problem with them doing it.

I'm hardly the most responsible person with my money but I mine were more than obliging.
 
Just got myself an overdraft setup, just got one question.

Whats the difference between planned and unplanned overdrafts?

Is planned what I have just setup, which will cover everything, after my balance has hit £0 upto £100 which the overdraft is?
 
If you contact your bank and agree an overdraft limit then as long you stay within this it is a planned overdraft and charges should be reasonable.

If you just go overdrawn or beyond your agreed limit without bothering to talk to your bank first this is an unplanned overdraft and you'll be quite rightly shafted for huge fees.
 
Planned/unplanned = Authorised/ unauthorised. If you go into an unauthorised overdraft, i.e. over your available limit (or into overdraft if you don't have one) you'll get absolutely hammered with charges.

My bank, for instance, is 50p per day if you are in an authorised draft (max 20 days charges in one month so a max of £10), but, if you go into an unauthorised overdraft, it is £5 per day! Again max 20 days chargeable, but that's now £100! :eek:

The main reason people go into an overdraft seems to be through direct debits. If a direct debit takes you into an overdraft situation (even if you don't have one) your bank will still release the funds assuming if it's a small amount. If it is a large amount they will refuse the direct debit and hit you with a charge, normally around £20-£25, which, quite often, puts people into overdraft!
 
What team is this out of interest? And is it the 13th March you are on about?

We have a lot of people moaning about my team (QPR) because they have announced the early bird tickets will only be available until mid April, wherease normally it's May or June etc so it's interesting to hear other teams doing the same thing. I assume it's a team in a promotion or relegation battle?
 
Wicksta said:
What team is this out of interest? And is it the 13th March you are on about?

We have a lot of people moaning about my team (QPR) because they have announced the early bird tickets will only be available until mid April, wherease normally it's May or June etc so it's interesting to hear other teams doing the same thing. I assume it's a team in a promotion or relegation battle?
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It's Wolves.

I got a letter a month ago offering me an "early bird" price.

If I opted out of this price and left it till June to renew, it'd would cost me £100 more.

Wolves' finance options are terrible. You can pay the ticket off monthly on the club credit card and thats about it. :(
 
digitalwolf said:
Not been with current employer long off to get a credit card.
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I didnt know you had to have been with an employer for a long time? I was out of work for nearly a year and got a credit card after first applying two months into my job never having previously had one, your bank is pretty certain to give you one as far as i thought?
 
Our finance options are just as bad, they offer a deal with zebra finance which basically gives you a bad credit card as well.

So thats 13th March you have until yeah?

I got an M&S 0% purchases credit card but you won't have time for that if it's March plus your employment period issue. I have the savings but I figure I'd rather that kept earning interest even if it's a tiny amount now.
 
Rich1988 said:
I didnt know you had to have been with an employer for a long time? I was out of work for nearly a year and got a credit card after first applying two months into my job never having previously had one, your bank is pretty certain to give you one as far as i thought?
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I got one at 18 having never previously had any form of employment. I don't think it's that much of a pre-requisite.

Best bet is to go to the bank you have you current account with - they're more likely to offer you one.
 
Wicksta said:
Our finance options are just as bad, they offer a deal with zebra finance which basically gives you a bad credit card as well.

So thats 13th March you have until yeah?

I got an M&S 0% purchases credit card but you won't have time for that if it's March plus your employment period issue. I have the savings but I figure I'd rather that kept earning interest even if it's a tiny amount now.
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Yeah.

I'd rather just pay it off in one go, it's out of the way then. The reason for the overdraft/credit was to make sure I had enough to cover my fuel and DD's.
 
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