Overdraft help

rahzal

rahzal

rahzal

Associate
Joined
31 Dec 2004
Posts
484
Looking at buying a car , the plan was to get a grand overdraft pay abit back each week then close the account when balance was back at 0. What bank could this be done with. Im 18 pretty close to 19 with a ok paying job. Any help is great
 
that means im going to pay intrest + have to pay a certain amount each month with an overdraft i could leave it all year and now have to pay in anything.
 
slippery slope tbh

been down that route takes a long time to pay of OD when you can keep diping into it if your short come end of month!

taken me ages to pay off my 3500 OD :(
 
No one in their right mind will give you an O/D that large on an account you just opened and not using day-to-day.

Also if you look O/D and Loan rates arnt that different (+0.04% with natwest)

Loan for £1k @ a year is only £90! Only £7.50 a month!!

Either try for a CC with someone like Tesco (Gave me a £1k limit when other places wouldnt even give me a £200 one!!)

Or borrow off your Parents and set up a standing order to pay them back if you can?
 
carvegio said:
natwest gave me a 1500 quid overdraft when I was a uni student @ 18 ...
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Yup, first year students will easily get over £1000 as an interest free overdraft.

As far as I'm aware though, ONLY students get interest free overdrafts. The best thing to do would be to arrange a meeting with the financial advisor at your local branch and see what they can offer.
 
rahzal said:
that means im going to pay intrest + have to pay a certain amount each month with an overdraft i could leave it all year and now have to pay in anything.
Click to expand...

If you do not go into the black each month, an overdraft can be revoked by the bank.
 
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