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Natwest Student account with bad credit score??
Hi im 28, and about to start a 3 year degree in September.
I have all my student finance sorted but like the idea of opening a student account to take advantage of the overdraft. I have 2 small kids and my husband supports us all financially but with the rising costs of just about everything, it would be nice to have it there for emergency purposes!!
The only trouble being that my credit rating went a bit downhill for a few months over the last year (husband had to take a few weeks off work with a back injury so short of money for a while). Im pretty much back on track with payments etc but will this affect my chances of getting an account or overdraft? We ahve a seperate account each and a joint one already.
Im assuming they do the normal credit checks or do they just access people individually?
Thanks in advance!
I have all my student finance sorted but like the idea of opening a student account to take advantage of the overdraft. I have 2 small kids and my husband supports us all financially but with the rising costs of just about everything, it would be nice to have it there for emergency purposes!!
The only trouble being that my credit rating went a bit downhill for a few months over the last year (husband had to take a few weeks off work with a back injury so short of money for a while). Im pretty much back on track with payments etc but will this affect my chances of getting an account or overdraft? We ahve a seperate account each and a joint one already.
Im assuming they do the normal credit checks or do they just access people individually?
Thanks in advance!
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With natwest you are virtually guaranteed the overdraft, they tend not to credit check. After all, they want graduates who are potentially going to be high paid earners. Halifax however are not as nice.... they do credit check and despite the claims a very small minority end up with the full overdraft claim they advertise!
So natwest is probably your best bet if you are worried about your credit history
So natwest is probably your best bet if you are worried about your credit history
crazyexcitedrandomer01
With natwest you are virtually guaranteed the overdraft, they tend not to credit check. After all, they want graduates who are potentially going to be high paid earners. Halifax however are not as nice.... they do credit check and despite the claims a very small minority end up with the full overdraft claim they advertise!So natwest is probably your best bet if you are worried about your credit history
I was wondering how you get that....
Anyway, the best thing to do is just ask, I expect most won't, since their main customers [for those bank accounts] are 18, 19, and probably don't have any credit history at all, let alone bad.
natwest student account is credit scored.
Having re read post 1 I am of the opinion that you should be OK. Providing you have not been taken to court for debt or have any default against your name.
Having re read post 1 I am of the opinion that you should be OK. Providing you have not been taken to court for debt or have any default against your name.
Thanks everyone.. well i will apply and let you know outcome anyway for anyone who maybe in a similar position to me and wondering also!
Whenver I apply to Natwest online it seems to force me to choose the "STEP" account option. For some reason it blocks out the student account. I've no idea why.
Edit: I just tried again after leaving it for a month and this time they gave me a provisional yes, just have to send a few documents off now and see what happens.
Edit: I just tried again after leaving it for a month and this time they gave me a provisional yes, just have to send a few documents off now and see what happens.
hiya..
Well i did the application online last night and got an agreement in principle. I wont get to excited just yet though as im sure they no doubt have a good old nose at your credit record inbetween now and when you send documents back!!! so like you Sallen i will just see what happens.
Well i did the application online last night and got an agreement in principle. I wont get to excited just yet though as im sure they no doubt have a good old nose at your credit record inbetween now and when you send documents back!!! so like you Sallen i will just see what happens.
Great news! I'm in a similar position to you in terms of having a less than perfect credit history. I'm fairly sure that if you've been approved in principle online then you'll get the account. I'm an exisiting Natwest customer and I held a basic Step account. About a month ago I applied to have my account upgraded to a current account. This was approved online (provsionally I thought). When I got the forms through I took them into my local branch to speed up the process. The Customer Services lady told me that as far as she could tell the approval was final. I also talked to her about my situation and asked her about my chances of getting a student account. She said that because I'd been given a current account she saw no reason why I wouldn't get a student one. Also some of the posts I've seen on other forums suggest that Natwest aren't as strict as other banks such as RBS (which is actually a part of the same group as Natwest - go figure).
Oh really, i didnt know RBS were part of Natwest.. its quite amazing how many really are the same company without people realising! yes i thought i may as well steer clear of banks like halifax and Hsbc as by the sounds of it they are more picky!
I havent had an account with Natwest before so whether that may differ the situation i'm not so sure. Im really hoping it will be a thumbs up!
I havent had an account with Natwest before so whether that may differ the situation i'm not so sure. Im really hoping it will be a thumbs up!
Hi mirandauk2006! Just wondered if you had mamaged to get a student account set up with Natwest?
Hiya- Well i have managed to open the account no probs but not applied for the overdraft yet which is the bit i'm most wondering about!! been away so will keep you posted on this!
Hi..well just a quick update... phoned on 1st to apply for overdraft and this morning its been set up in my account no probs... the full £1250.00! i really didnt expect to be granted it as my own personal account wont even grant me a £100 overdraft but anyway!! so anyway theres hope for us all!!
mirandauk2006
Hi..well just a quick update... phoned on 1st to apply for overdraft and this morning its been set up in my account no probs... the full £1250.00! i really didnt expect to be granted it as my own personal account wont even grant me a £100 overdraft but anyway!! so anyway theres hope for us all!!
glad to hear that
I have called them at least 20 times without any success at all
and the worst thing is that i am about to start uni without any money . i think i am going to switch to llyods
I also have been accepted 'in principle' for a natwest student account, Lloyds rejected me though, then someone at Natwest told me a credit check is performed online whilst submitting the application,
I'm awaiting my forms and am gonna go up to the bank and see if they let me have it
I'm awaiting my forms and am gonna go up to the bank and see if they let me have it
Hi guys....
Some of your posts are so informative..... this credit scoring stuff is a load of nonsense, i'm telling you.....
I have had an RBS basic account for 5years and this bank refused me an upgrade to a current account about 10 times......
Two years ago, I applied to HBOS for a current account and they opened it for me immediately, with a £100 overdraft facility and cheque book......
Bad money management meant that I paid HBOS more than £700 in a year in unauthorised overdraft charges, then they wanted more..... I refused, they eventually froze the account after more charges totalling the balance at -£380.......
They handed the account to debt collecters, who kept phoning me.... I ignored their calls, but they were calling every hour of the day, so eventually I answered them...... "Will you pay this amount?" - ANSWER - "No way"
So, the bank sent me a default about six months ago - I admit I completely ignored them and still have!!!
Just a week ago (March 2010), I went into my local branch of Alliance and Leicester to apply for a current account (declined)!!! Surprise.......
But to my amazement, when I went online 2 days ago and applied for the Natwest student account, my application was put through and they offered me an overdraft of £1600....... I went to the Glasgow branch immediately and signed the application....... only trouble is that my ID was not acceptable at the branch (I provided my student card, a letter from the uni, a letter from SAAS, and my birth certificate), this needed to be sent to the service centre for verification.......
Once this is done I expect they will be sending me my card and pin.........
This should be sometime next week, so i'll post and let you know if it all goes through ok!!!
Good luck!!
Some of your posts are so informative..... this credit scoring stuff is a load of nonsense, i'm telling you.....
I have had an RBS basic account for 5years and this bank refused me an upgrade to a current account about 10 times......
Two years ago, I applied to HBOS for a current account and they opened it for me immediately, with a £100 overdraft facility and cheque book......
Bad money management meant that I paid HBOS more than £700 in a year in unauthorised overdraft charges, then they wanted more..... I refused, they eventually froze the account after more charges totalling the balance at -£380.......
They handed the account to debt collecters, who kept phoning me.... I ignored their calls, but they were calling every hour of the day, so eventually I answered them...... "Will you pay this amount?" - ANSWER - "No way"
So, the bank sent me a default about six months ago - I admit I completely ignored them and still have!!!
Just a week ago (March 2010), I went into my local branch of Alliance and Leicester to apply for a current account (declined)!!! Surprise.......
But to my amazement, when I went online 2 days ago and applied for the Natwest student account, my application was put through and they offered me an overdraft of £1600....... I went to the Glasgow branch immediately and signed the application....... only trouble is that my ID was not acceptable at the branch (I provided my student card, a letter from the uni, a letter from SAAS, and my birth certificate), this needed to be sent to the service centre for verification.......
Once this is done I expect they will be sending me my card and pin.........
This should be sometime next week, so i'll post and let you know if it all goes through ok!!!
Good luck!!
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