Barclays refused OD facility though I got GOOD credit score??

[aasanka75]

Could anyone help me to understand why Barclays refused to increased my OD level from just £250 to £1000 as I requested (even though I didn’t want it but I applied as a testing) ? I have been with Barclays for about 4 years now and haven’t seen any single ‘Pre approved offer’ on my internet banking page. I send my full monthly salary to this account and do over 75% of transaction via this account. I never used my OD for about 2 years time. My credit score is 947 (Good) and credit report is clear (I do check my report with Experian credit expert always). Few months ago I have logged a complaint saying that I have not been received any Pre approved facilities from Barclays then they have replied me saying that there is no issue with my account and it is always possible for me to go for a credit facility if I wish to do so (even though nothing has appeared as Pre-approved)

 

Last Saturday I visited the bank branch and asked customer adviser to apply for further OD facility (She warned me but I wanted to do because for testing propose), unfortunately within less than 2 minutes time she told me that bank has refused to increased due to my credit situation. I argued her but she pointed me that there should be an issue in my credit report. Looking at credit report it is fine and also have a good score. Now I am frustrated and don’t know what to do with this???

 

I would highly appreciate if someone can advise me how I can find out what criteria caused bank to refuse my OD request??

 

Thanks in advance.

[dirkuberpower]

First of all, Barclays have no obligation to grant you a overdraft increase just because you want one. Remember it can be increasingly harder to get credit then it was five years ago.

 

There may be many factors for it being declined like: you have had some recent searches on your credit search, may not be on voters roll, it may be your income not high enough, you may have a lot of existing credit (remember although you have a good score and keep up the repayments there mayjust be too much of it), it could be just the economic situation and they just are not authorising overdrafts that high at the moment, it may not be that they authorise £1k overdrafts to non-home owner. it could go on.

 

Your best bet is to try again in a month or so or maybe request a lower overdraft.

[Conniff]

And not forgetting how much of your salary is left over each month, if not much then they could fear you don't have enough to clear it.