Lloyds denied overdraft increase
I already have a £500 overdraft with Lloyd's as I'm a second year student. I have applied for increase, as I'm eligible for more now, but got denied. I have no idea why I'm being denied. I need this overdraft as my rent is a week before the next loan coming in.
I feel like I might be applying wrong; I put £0 for monthly income since it says not to include student loans. I fill out my monthly rent which gets paid with my student loan, and then I have no dependants. Is this the issue?
I also have no credit score, it has never given me any score so I have no idea why this is an issue. I tried to transfer banks but that got denied too.
I feel like I might be applying wrong; I put £0 for monthly income since it says not to include student loans. I fill out my monthly rent which gets paid with my student loan, and then I have no dependants. Is this the issue?
I also have no credit score, it has never given me any score so I have no idea why this is an issue. I tried to transfer banks but that got denied too.
(edited 4 months ago)
Unfortunately because students don't have much credit history, some are rejected for no apparent reason. Have you tried NatWest or RBS - they allow switches by second-year students? However, as the overdraft limit for the first term is the same as Lloyds, it might not help your current predicament. Can you approach your landlord and ask if you can delay your payment for a week?
The following article is worth a read:
https://www.moneysavingexpert.com/students/student-bank-account/
The following article is worth a read:
https://www.moneysavingexpert.com/students/student-bank-account/
(edited 4 months ago)
Original post by normaw
Unfortunately because students don't have much credit history, some are rejected for no apparent reason. Have you tried NatWest or RBS - they allow switches by second-year students? However, as the overdraft limit for the first term is the same as Lloyds, it might not help your current predicament. Can you approach your landlord and ask if you can delay your payment for a week?
The following article is worth a read:
https://www.moneysavingexpert.com/students/student-bank-account/
The following article is worth a read:
https://www.moneysavingexpert.com/students/student-bank-account/
Hey, thanks a lot. I did already have an email typed out to my landlord about it but I wanted to hold back to see if I could resolve it otherwise.
Original post by shortinpractice
Hey, thanks a lot. I did already have an email typed out to my landlord about it but I wanted to hold back to see if I could resolve it otherwise.
Tbh Lloyds overdrafts are so extortionate you are better off talking to your landlord.Mine got reduced because I had not used it!So being able to manage your money goes against you.
Quick Reply
Related discussions
- Breaking Down Student Bank Accounts: Which One Is The Best?
- Best bank account for university students
- Changing student bank account
- France Calais border?
- Pre-reg salary + contracts
- nationwide overdraft
- Bank account - student
- Overdraft Credit Score
- NatWest overdraft
- Overdraft
- Nationwide FlexStudent Overdraft Increase Date
- Santander overdraft
- Student Bank Account Overdrafts
- how does santander student account work?
- Santander overdraft cifas
- Kicked out by September 1st, need help finding a place to stay or funds to move out.
- Scammed someone.
- Looking for a part time job
- Cost of living at uni
- Broke student - bank denying overdraft help
Latest
Trending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 4 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAMTrending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 4 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAM
