T
tripb
Guest
Hi guys, new here.
Just wondering could anyone offer any advice/feedback on my current banking situation.
2 years ago I opened my bank account, a student bank account with Ulster Bank - couldnt turn down the €650 overdraft they offered! Anyway I made use of that overdraft and have been making use of it pretty much ever since. Though I opened a student account, I only went to college for a week and then dropped out and got myself a job. Have been working full time since then with money going into the account each month.
Anyway, I found it hard to completely repay the overdraft and get rid of it as I was going on holidays, spending money left right and centre and then last year added a car loan on top of it, not to mention my extortionate insurance premium going out by DD each month. So here I still am dipping in and out of the overdraft each month and not getting rid of it as I would like to do (my own fault I know).
Last year I applied for a credit card with my bank and was told my application was lost by my branch - I rang the credit card office and I was told I had been declined with no mention as to a reason why. I applied 6 months later, rang up and was told I had been declined as this application was within 8 months of my previous one and that I could not apply again for another 8 months! During that time I also had a couple of DD's not go out due to insufficient funds - due to my previous employer recalling my wages which resulted in my loan and insurance not going out, they were collected the next week when that issue was resolved.
I have also been turned down a laser(!) card from my bank, all I wanted was access to my funds while in America and as they wouldn't give me a credit card you would think they would give me a laser at least, seeing as it is my money I would be accessing but no I got refused somehow.
What I am wondering is - I think I am still down as having a student account with my bank, it was last time I checked anyway and im sure that will not look good on any credit checks etc. right?
So obviously my first port of call is to make sure my account is just a current account and not a student account but to do this i've been told they will have to close my account and open a new one - will this reset my credit rating (I don't know much about it as you can tell) and start from scratch on my new account? Or will it continue on using the same data as the previous account as well? This will also mean my overdraft will be gone if they have to close the account which at the moment I can not simply pay off in a lump sum.
My main query here is what would my credit rating be seen as going purely on the above information, good? bad? terrible? Knowing that would help me decide what my next step is going to be to get where I want to be right now.
If you have read this far then I thank you and if you have any opinions or advice for me I would greatly appreciate it.
Thank you.
Just wondering could anyone offer any advice/feedback on my current banking situation.
2 years ago I opened my bank account, a student bank account with Ulster Bank - couldnt turn down the €650 overdraft they offered! Anyway I made use of that overdraft and have been making use of it pretty much ever since. Though I opened a student account, I only went to college for a week and then dropped out and got myself a job. Have been working full time since then with money going into the account each month.
Anyway, I found it hard to completely repay the overdraft and get rid of it as I was going on holidays, spending money left right and centre and then last year added a car loan on top of it, not to mention my extortionate insurance premium going out by DD each month. So here I still am dipping in and out of the overdraft each month and not getting rid of it as I would like to do (my own fault I know).
Last year I applied for a credit card with my bank and was told my application was lost by my branch - I rang the credit card office and I was told I had been declined with no mention as to a reason why. I applied 6 months later, rang up and was told I had been declined as this application was within 8 months of my previous one and that I could not apply again for another 8 months! During that time I also had a couple of DD's not go out due to insufficient funds - due to my previous employer recalling my wages which resulted in my loan and insurance not going out, they were collected the next week when that issue was resolved.
I have also been turned down a laser(!) card from my bank, all I wanted was access to my funds while in America and as they wouldn't give me a credit card you would think they would give me a laser at least, seeing as it is my money I would be accessing but no I got refused somehow.
What I am wondering is - I think I am still down as having a student account with my bank, it was last time I checked anyway and im sure that will not look good on any credit checks etc. right?
So obviously my first port of call is to make sure my account is just a current account and not a student account but to do this i've been told they will have to close my account and open a new one - will this reset my credit rating (I don't know much about it as you can tell) and start from scratch on my new account? Or will it continue on using the same data as the previous account as well? This will also mean my overdraft will be gone if they have to close the account which at the moment I can not simply pay off in a lump sum.
My main query here is what would my credit rating be seen as going purely on the above information, good? bad? terrible? Knowing that would help me decide what my next step is going to be to get where I want to be right now.
If you have read this far then I thank you and if you have any opinions or advice for me I would greatly appreciate it.
Thank you.