Welcome to Overdrafts.co.uk
Welcome to Overdrafts.co.uk your one stop site for information on UK overdrafts. On this site will offer information on what an overdraft actually is as well as showing you the best bank overdraft deals currently available in the UK market. Choosing the right account with an overdraft is important as many people use their overdraft constantly during the month to help them get by when money is a bit tight.
Does a poor credit rating matter towards my Overdraft?
A poor credit rating can limit your options when applying for an overdraft. Defaulted payments can leave a black mark against your name when trying to apply for an overdraft. If they're not seeing your profile as someone who has a good credit record because you often go overdrawn then offering you an overdraft would be high risk as you have already shown them that you don't always manage your money well. Also another factor that people often overlook is that if your salary doesnt go into your main account then they have no way of knowing you will have a regular ...
You think you don’t need an overdraft?!
One very good reason for having an overdraft facility, even if you feel you don’t actually need one, is to avoid the possibility of underestimating your spending. The interest on an agreed overdrawn amount is a lot less than a fine for spending money that simply isn’t yours to spend.
Unexpected tipping points
Electronic purchasing systems, which allow us to pay for goods and services by debit card, and ATMs or cash machines, do not always reject a payment that sends you into the red, and the system may simply go ahead and authorize the transaction, even if you have no overdraft agreement with the bank. A hefty fine is still imposed because the onus is on you to maintain awareness of your financial position at all times. Furthermore, you may check your account balance one day and find you’ve got just enough funds for a night out, so you make an appropriate withdrawal. ...
Welcome to Overdrafts.co.uk
// Jul 25th, 2010
Does a poor credit rating matter towards my Overdraft?
// Nov 22nd, 2011