Hi All,
About 6 months ago I applied for the RaboDirect Credit Account and got approval for €19,000. I drewdown €18,000 straight away and my current balance stands at approx. €16,500. Yesterday I tried to drawdown an extra €2000 but was refused! I thought the point of this product was that you could make regular withdrawals up to your approved limit. I have paid off more than the requested €1000 since the initial drawdown as that seemed to be the only stipulation.
I am making a monthly payment of €380 pm which is 2% of the full amount (€19000) approved initially.
Are they entitled to refuse me a drawdown up to the initial amount approved even though my payment is a percentage of the full amount.
My circumstances have not changed in the meantime.
Your opinions appreciated,
Maggs
About 6 months ago I applied for the RaboDirect Credit Account and got approval for €19,000. I drewdown €18,000 straight away and my current balance stands at approx. €16,500. Yesterday I tried to drawdown an extra €2000 but was refused! I thought the point of this product was that you could make regular withdrawals up to your approved limit. I have paid off more than the requested €1000 since the initial drawdown as that seemed to be the only stipulation.
I am making a monthly payment of €380 pm which is 2% of the full amount (€19000) approved initially.
Are they entitled to refuse me a drawdown up to the initial amount approved even though my payment is a percentage of the full amount.
My circumstances have not changed in the meantime.
Your opinions appreciated,
Maggs