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How often do you get an overdraft bigger than £1.5k? Watch

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    Deciding between the CO-OP guaranteed 1.5k up to 2k, versus the HSBC guaranteed 0.5k up to 3k.

    How often do you guys get 2k+ overdrafts on HSBC/Halifax etc and what are your circumstances?
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    Let's say that my home and car insurance is up for renewal towards the end of the year, but I don't get paid until the end of the month. In these temporary circumstances, a £1500 - £2000 overdraft limit really comes in handy.
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    (Original post by Final Fantasy)
    Let's say that my home and car insurance is up for renewal towards the end of the year, but I don't get paid until the end of the month. In these temporary circumstances, a £1500 - £2000 overdraft limit really comes in handy.
    I don't think you've understood the question at all lmao
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    (Original post by TrojanH)
    I don't think you've understood the question at all lmao
    Feel free to elaborate...? It is your thread after all.
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    (Original post by Final Fantasy)
    Feel free to elaborate...? It is your thread after all.
    I'm wanting to know how often people had applied and actually got an overdraft larger than 2k.

    I'm deciding whether or not it is worth risking this with HSBC as they guarantee £500 but go up to £3000, whereas Co Op guarantee £1,500 but go up to £2,000.

    So I will see if I am more likely to get a better deal with HSBC.
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    (Original post by TrojanH)
    I'm wanting to know how often people had applied and actually got an overdraft larger than 2k.

    I'm deciding whether or not it is worth risking this with HSBC as they guarantee £500 but go up to £3000, whereas Co Op guarantee £1,500 but go up to £2,000.

    So I will see if I am more likely to get a better deal with HSBC.
    Depends on the type of account and possibly your credit history and other factors. I've been with HSBC for several years now at least, and another bank (my primary one) for over a decade. Any lending decisions or overdraft changes often come through without any issues for me. But then again, they've already ran their credit checks, they're also able to assess my incoming/outgoing payments etc. so they are assured that I can afford to keep up with it.

    If I were you, I'd just go into into the branch and arrange to speak to someone about it. That's what I did, and back then I wasn't even eligible for an account at HSBC but you'll find that talking to a human has its advantages.

    Otherwise, If £1500 sounds like enough for your needs, then go with Co-op since it's guaranteed.

    If you're interested in seeing your credit report and ratings, Experian provides a free trial period.
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    (Original post by Final Fantasy)
    Depends on the type of account and possibly your credit history and other factors. I've been with HSBC for several years now at least, and another bank (my primary one) for over a decade. Any lending decisions or overdraft changes often come through without any issues for me. But then again, they've already ran their credit checks, they're also able to assess my incoming/outgoing payments etc. so they are assured that I can afford to keep up with it.

    If I were you, I'd just go into into the branch and arrange to speak to someone about it. That's what I did, and back then I wasn't even eligible for an account at HSBC but you'll find that talking to a human has its advantages.

    Otherwise, If £1500 sounds like enough for your needs, then go with Co-op since it's guaranteed.

    If you're interested in seeing your credit report and ratings, Experian provides a free trial period.
    I have tried and there's not much humans can do. It's all credit checked and done by their system. I know because I've worked at HSBC too lol. My credit score is 350/700 on Clearscore (Equifax/Experian I believe) which is pretty mediocre and doesn't really mean anything as there is nothing on my credit history. Then again, I don't really know what credit score provides what overdraft and what not.
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    I'm with Halifax and was offered the full £3000 in my second year, £1000 is the maximum for first year
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    HSBC tend to stagger the amount they give you i.e. 1500 to start with after a term or year etc. bump it up to 2k or what not, especially as most students wont have a creditscore to merit such a high initial o/d.
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    (Original post by TrojanH)
    Deciding between the CO-OP guaranteed 1.5k up to 2k, versus the HSBC guaranteed 0.5k up to 3k.

    How often do you guys get 2k+ overdrafts on HSBC/Halifax etc and what are your circumstances?
    my Santander has a £3,000 overdraft now but that more down to the fact I applied for it when I had a lot in there so go a higher rate
    but one of the guys I know has a £500,000 overdraft
    Spoiler:
    Show
    but he makes £10,000,000 in a good year
 
 
 
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