The Student Room Group

Broke student - bank denying overdraft help

I am a final year law student, I wasn’t able to work over summer due to family commitments (had to become carer).
I tried applying for hsbc student account as the overdraft limit for final year students can go
Up to £3,000 . I don’t need £3,000 but I do have bills and there is a cost of living crisis. After ages of trying and the bank being super unhelpful I got a student account, I probably needed about 1.5 k to
Help with foods, bills , rent etc for next couple months however when I contacted them for the overdraft they said I had also filed a credit card application last week, my credit score has been ruined and it would take 3 months till I could get approved . I never applied for a credit card, I informed them that someone has been using my details to apply for a credit card as I did not apply for one and fraudently ruining my credit history . I have used hsbc since I was 11 ,I have never missed any bills or payments, apart from last summer I frequently work and have money in the account. I’m down to my last £50 and have no one to lean on. What can I do I’m so scared I’m on the verge of homelessness and the one time I rely on the bank they are making me wait so long. My credit history has been ruined, I can’t pay my bills or buy food .

Does anyone have any advice, I tried applying to NatWest but hsbc r the only bank I use for every transaction also I assume as someone has used my details my credit history will look bad to all banks .
Any advice appreciated
(edited 1 year ago)
https://www.actionfraud.police.uk/a-z-of-fraud/application-fraud
This is a page to help with the credit card application. They also have a help webchat

Also consider using Citizens advice helpline
(edited 1 year ago)
Original post by amber2106
I am a final year law student, I wasn’t able to work over summer due to family commitments (had to become carer).
I tried applying for hsbc student account as the overdraft limit for final year students can go
Up to £3,000 . I don’t need £3,000 but I do have bills and there is a cost of living crisis. After ages of trying and the bank being super unhelpful I got a student account, I probably needed about 1.5 k to
Help with foods, bills , rent etc for next couple months however when I contacted them for the overdraft they said I had also filed a credit card application last week, my credit score has been ruined and it would take 3 months till I could get approved . I never applied for a credit card, I informed them that someone has been using my details to apply for a credit card as I did not apply for one and fraudently ruining my credit history . I have used hsbc since I was 11 ,I have never missed any bills or payments, apart from last summer I frequently work and have money in the account. I’m down to my last £50 and have no one to lean on. What can I do I’m so scared I’m on the verge of homelessness and the one time I rely on the bank they are making me wait so long. My credit history has been ruined, I can’t pay my bills or buy food .

Does anyone have any advice, I tried applying to NatWest but hsbc r the only bank I use for every transaction also I assume as someone has used my details my credit history will look bad to all banks .
Any advice appreciated

Regarding your financial position, check to see if your university has a student hardship fund, and how you would go about applying to it.

Regarding the credit card application you didn't make: you need to urgently get a copy of your "statutory credit report" from each of the three main credit reference agencies (CRAs) -- Equifax, Experian, and TransUnion. There is no charge for this. This should identify which lender has processed the application for a credit card, which will allow you to take steps to deal with this. You should carefully check for anything else unexpected on your records. You need to do this for all three CRAs as they won't necessarily hold the same data.
Original post by amber2106
I am a final year law student, I wasn’t able to work over summer due to family commitments (had to become carer).
I tried applying for hsbc student account as the overdraft limit for final year students can go
Up to £3,000 . I don’t need £3,000 but I do have bills and there is a cost of living crisis. After ages of trying and the bank being super unhelpful I got a student account, I probably needed about 1.5 k to
Help with foods, bills , rent etc for next couple months however when I contacted them for the overdraft they said I had also filed a credit card application last week, my credit score has been ruined and it would take 3 months till I could get approved . I never applied for a credit card, I informed them that someone has been using my details to apply for a credit card as I did not apply for one and fraudently ruining my credit history . I have used hsbc since I was 11 ,I have never missed any bills or payments, apart from last summer I frequently work and have money in the account. I’m down to my last £50 and have no one to lean on. What can I do I’m so scared I’m on the verge of homelessness and the one time I rely on the bank they are making me wait so long. My credit history has been ruined, I can’t pay my bills or buy food .
Does anyone have any advice, I tried applying to NatWest but hsbc r the only bank I use for every transaction also I assume as someone has used my details my credit history will look bad to all banks .
Any advice appreciated

I'm in a similar situation where HSBC has been extremely unhelpful in this situation, however I have a 998 credit score and they're still citing that as the reason for turning me down. It doesn't help that you can only apply online for the overdraft now as they told me in branch when I handed in my note that they couldn't do it and I had to apply online. When I called up they couldn't even give me a straight reason why it's been denied. Pretty sure something dodgy is happening with HSBC's system from the other students I've spoken to. I'm yet to find a student who had their HSBC overdraft increased in line with our contracts...

I know this isn't probably what you want to hear and I'm sorry you're going through this.

As for best actions get in touch with your university supervisor, they will usually be able to put you in touch with the correct resources within the university for getting financial help.
Original post by martin7
Regarding your financial position, check to see if your university has a student hardship fund, and how you would go about applying to it.
Regarding the credit card application you didn't make: you need to urgently get a copy of your "statutory credit report" from each of the three main credit reference agencies (CRAs) -- Equifax, Experian, and TransUnion. There is no charge for this. This should identify which lender has processed the application for a credit card, which will allow you to take steps to deal with this. You should carefully check for anything else unexpected on your records. You need to do this for all three CRAs as they won't necessarily hold the same data.

I'm convinced HSBC doesn't even check as mine is 998 and they turn me down based on that haha. I'd never heard of a statutory credit report, so have just applied for one. Hoping to see what's going on. Thanks :smile:
Original post by amber2106
I am a final year law student, I wasn’t able to work over summer due to family commitments (had to become carer).
I tried applying for hsbc student account as the overdraft limit for final year students can go
Up to £3,000 . I don’t need £3,000 but I do have bills and there is a cost of living crisis. After ages of trying and the bank being super unhelpful I got a student account, I probably needed about 1.5 k to
Help with foods, bills , rent etc for next couple months however when I contacted them for the overdraft they said I had also filed a credit card application last week, my credit score has been ruined and it would take 3 months till I could get approved . I never applied for a credit card, I informed them that someone has been using my details to apply for a credit card as I did not apply for one and fraudently ruining my credit history . I have used hsbc since I was 11 ,I have never missed any bills or payments, apart from last summer I frequently work and have money in the account. I’m down to my last £50 and have no one to lean on. What can I do I’m so scared I’m on the verge of homelessness and the one time I rely on the bank they are making me wait so long. My credit history has been ruined, I can’t pay my bills or buy food .
Does anyone have any advice, I tried applying to NatWest but hsbc r the only bank I use for every transaction also I assume as someone has used my details my credit history will look bad to all banks .
Any advice appreciated

TSB and Santander are at least worth trying. As for the Credit Card, That would be worth looking more deeply into so it can be 100% corrected. You should ask the Crredit Card Company/Bank concerned with that Card application to provide you with COPIES of the Application etc you are alleged to have made. Defintely worth pursuing that to clear it up.
DEFINITELY you need to insist that HSBC send you ALL the information about the Fraudulent application for a Card
Original post by Fibonacci28
https://www.actionfraud.police.uk/a-z-of-fraud/application-fraud
This is a page to help with the credit card application. They also have a help webchat
Also consider using Citizens advice helpline

action fraud is waste of time.

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