Chump
Member
Registered: 1st Feb 04
Location: Sharnbrook
User status: Offline
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Bank sent me a letter this morning saying i have access to £5000 if i want it....as if i'd be that stupid.....
How big is yours? 
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Gaz
Member
Registered: 24th Aug 03
Location: Widnes, Cheshire
User status: Offline
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£200 nice and simple £200 is not alot of debt IMO considering as you have said above, you can have potentally £5000
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Chump
Member
Registered: 1st Feb 04
Location: Sharnbrook
User status: Offline
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im not in my overdraft at all....no way im owing the bank anywhere near £5000
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All Torque
Member
Registered: 17th Nov 05
Location: Milton Keynes Drives: Ford Focus TDCi
User status: Offline
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£250, had to use it once and had to pay an extra £25 for the privalige 
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Gaz
Member
Registered: 24th Aug 03
Location: Widnes, Cheshire
User status: Offline
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no i didnt mean it like that lol, hence me saying potentaly(spelling)
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kz
Member
Registered: 9th Aug 02
Location: Southend, Essex Drives: Mini Cooper S
User status: Offline
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mines £500 though i can have £800 if i need it. aint been out of it since i got it 
£5000 is mad!
never heard of that much. i still have £3000 of my loan to pay back 
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Karen
Member
Registered: 9th Jul 03
Location: Edinburgh
User status: Offline
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Not got an overdraft 
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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Not got an overdraft either.....
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Nick A
Member
Registered: 28th Nov 04
Location: Hertfordshire
User status: Offline
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No overdraft either - if i cannot afford it i sont buy it and save for it 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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If the £5k is interest free - like mine is - then the fact its an overdraft is not important.
When you have mortgage and house crap like that and are down 6 figures, a few grand here and there is just moving money to get it in the best places.
It wouldn't make sense, for example, to pay off an overdraft at 5% with a loan at 7%.
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TNM
Member
Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
User status: Offline
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quote:
Originally posted by Gaz
£200 nice and simple £200 is not alot of debt IMO considering as you have said above, you can have potentally £5000
id like to know how much you earn at 18 if your bank is offering you 5k for an over draft.
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marklawton
Member
Registered: 24th Apr 05
Location: Pensby, Wirral Drives:Golf mk4 GTI
User status: Offline
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havent got an overdraft, if you havent got the money then save up and then get it
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Ben J
Member
Registered: 31st Jan 05
Location: Cheshire
User status: Offline
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Bank account overdraft is £500. I never use it. Credit card limit - £17,000!! Pay it off every month tho, if I use it at all.
[Edited on 08-04-2006 by bjackso2x]
[Edited on 08-04-2006 by bjackso2x]
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Chump
Member
Registered: 1st Feb 04
Location: Sharnbrook
User status: Offline
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quote:
Originally posted by Ian
If the £5k is interest free - like mine is - then the fact its an overdraft is not important.
When you have mortgage and house crap like that and are down 6 figures, a few grand here and there is just moving money to get it in the best places.
It wouldn't make sense, for example, to pay off an overdraft at 5% with a loan at 7%.
Its not interest free - thats one of the reasons I dont use it - as well as I dont like owing money....
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kz
Member
Registered: 9th Aug 02
Location: Southend, Essex Drives: Mini Cooper S
User status: Offline
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quote:
Originally posted by marklawton
havent got an overdraft, if you havent got the money then save up and then get it
wasnt a case of that for me. car broke... was off the road, couldnt afford to be with my job. so had to get money quick to sort it
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Gaz
Member
Registered: 24th Aug 03
Location: Widnes, Cheshire
User status: Offline
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quote:
Originally posted by TNM
quote:
Originally posted by Gaz
£200 nice and simple £200 is not alot of debt IMO considering as you have said above, you can have potentally £5000
id like to know how much you earn at 18 if your bank is offering you 5k for an over draft.
read the post, im not getting offered £5000 the guy who made the thread is...
im 19 and on between 13-15K
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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quote:
Originally posted by Chump
I dont like owing money....
Indeed, but its necessary some times. I wouldn't rule out the overdraft if it compares favourably to other forms of borrowing when you need it.
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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quote:
Originally posted by TNM
quote:
Originally posted by Gaz
£200 nice and simple £200 is not alot of debt IMO considering as you have said above, you can have potentally £5000
id like to know how much you earn at 18 if your bank is offering you 5k for an over draft.
Im only 18 and have been overed substantial overdrafts and i have quite a nice credit limit on my credit card too
I still dont owe anyone any money though.
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Chump
Member
Registered: 1st Feb 04
Location: Sharnbrook
User status: Offline
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quote:
Originally posted by Ian
quote:
Originally posted by Chump
I dont like owing money....
Indeed, but its necessary some times. I wouldn't rule out the overdraft if it compares favourably to other forms of borrowing when you need it.
You're right - thats why i dont phone them to cancel it because you never know when you might need it in an emergency....
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Dave A
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 10th Dec 03
Location: County Durham
User status: Offline
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i have a 1k overdraft. dont use it often its just there if i want it.
depends how much money you have coming in really, I usually take home £5000 a month so in comparison then its not that much.
im £750 overdrawn at the moment tho, 6 days to wait till payday
[Edited on 08-04-2006 by corsa808]
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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I don't have an overdraft but money fluctuates too much in my account hence why they won't give me an overdraft!
I could be a few grand in credit one day, and about a fiver in credit the next!
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morpheus22
Member
Registered: 10th Oct 05
Location: sheffield
User status: Offline
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£400 wich i will probably gone over by next thursday
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Nismo
Member
Registered: 12th Sep 02
User status: Offline
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£600
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psycho sport
Member
Registered: 27th Mar 03
Location: Guildford Surrey Drives: Vauxhall Monaro
User status: Offline
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I have lots of debt!
£3500 in current account overdraft
£1350 on credit card which is being paid off in the next week
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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not got any debt bar £12000 + interest on student loan - but I odnt count that as a debt
no overdraft facility, no credit card, no loans/finance
and at the moment a healthy bank balance - all of which will be blown on the deposit for the house were trying to buy this sumemr
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