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Thursday, July 8, 2010

Student banking w/ overdraft rejected?

I am going to university this september, so naturally I went on a search for the best student bank accounts. I settled for Halifax, who do up to 3000 interest free overdraft. After an hour meeting setting up the account and a credit check, I was rejected because my credit score was not high enough.



Two issues popped up in my head. First; I have never owed any money, and they had asked about other banks and building societies that I am currently with. The ones I had informed them of total to about 13k, for university funds. These are moved around ever few financial years to get the best interest rates on them, apart from two fixed bonds I have, and the ISAs that I set up (I have already set up one this financial year.) I am already on the electoral role, and I receive regular amounts of money every month. This supposedly would make me quite a low risk for an overdraft.



Secondly; I

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