Do you use your overdraft regularly?

(30 Posts)
BlackCatsAndPurpleDogs Mon 05-Mar-12 19:37:46

Not being nosey...ok, I am.
Have been in mine for at least a year and wonder if one day might actually get to have a pound credit in my account, would be great grin

OP’s posts: |
Tranquilidade Mon 05-Mar-12 19:40:45

Yes we do, but tbh we are a bit naughty and have some savings elsewhere but think if our bank are daft enough to give us a free overdraft we might as well use it. After all, it would be rude not to!

GrendelsMum Mon 05-Mar-12 19:41:16

no, not at all! I'm the opposite way round - I get really paranoid about getting anywhere near the overdraft, even if it means keeping money in a current account rather than putting it into savings where it could do some good.

HoneyandHaycorns Mon 05-Mar-12 19:41:25

Never. I think our limit is set at around £5000 but we never go even £1 overdrawn. Am very debt-averse. smile

HoneyandHaycorns Mon 05-Mar-12 19:43:28

grendelsmum - me too. blush

SleepingWithGhosts Mon 05-Mar-12 19:56:17

My bank isn't yet stupid enough to allow me an overdraft or I suspect I would live off it.

RhiRhi123 Tue 06-Mar-12 11:50:25

Always on the joint account! we get paid and as soon as the bills all go out we live in the overdraft for at least 2 weeks of the month. It's sooo difficult to get out of once your in. Although a while ago i managed to pay the one on my current account off (it was 'only' £300 though) and although it was a nice feeling at the time and obviously it's nice not to have that bit of extra debt on top of the rest i have exactly 'benefitted' from paying it off as the overdraft was free anyway. In hindsight I should have paid it off the credit card smile

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RhiRhi123 Tue 06-Mar-12 11:51:26

haven't*

CogitoErgoSometimes Tue 06-Mar-12 14:00:27

Also try to stay out of the overdraft if I can help it. I have an agreed limit but it's really there as a safety-net in case regular outgoings and wages deposits accidentally get out of synch. Because it's so expensive (even when agreed), if I was using the o/d regularly, I think I'd be trying to convert it to a cheaper form of borrowing.

LadySybilDeChocolate Tue 06-Mar-12 14:01:21

I don't have an overdraft. One would be useful though.

PaperView Tue 06-Mar-12 14:18:19

I live in mine sad

ChasingSquirrels Tue 06-Mar-12 18:05:14

no, never have.
last time I opened a new current account they asked what overdraft limit I wanted and I said I didn't want one - they were quite unbelieving and really pushed me towards having one.

jammydodger1 Tue 06-Mar-12 18:25:15

blush me too Paper forgotten what being in the black is confused

TBE Tue 06-Mar-12 18:27:59

Message withdrawn at poster's request.

IAmBooyhoo Tue 06-Mar-12 18:28:10

i have been at the limit of two overdrafts for about 18 months now. i fucking hate it.

IAmBooyhoo Tue 06-Mar-12 18:30:11

costs me £1 a day aswell

LoveBox Tue 06-Mar-12 18:34:58

Overdraft is £2000. I've never gone above -£1500 in the last seven years- literally live in my overdraft. Get charged like £30 a month for it.

stressheaderic Tue 06-Mar-12 18:45:40

Everythime my wages go in, I go back into the black, but only just. Then I creep steadily through the overdraft. I'm trying so hard to be in credit for longer. It's hard though, and Halifax have just put my bloody mortgage up just as I was managing to have a few pennies spare.

Meglet Tue 06-Mar-12 18:46:39

never.

Fluffycloudland77 Tue 06-Mar-12 19:22:06

Yes but it's only £30 but usually when DH buys something on eBay and it comes out of my account not his.

I am making an effort not to though, it costs £5.

Fluffycloudland77 Tue 06-Mar-12 19:22:35

I mean the overdraft is £30, not the charges.

ginmakesitallok Tue 06-Mar-12 19:23:10

No - not since student days.

PeanutButterChocolate Tue 06-Mar-12 19:29:20

Ask the bank to get rid of your overdraft all together (once you're in the black, of course). It will force you to set a budget and stick to it.

Mum2Fergus Tue 06-Mar-12 21:06:57

No, have a free £300 overdraft available to me but never taken up the offer.

PriscillaQueenOfTheDesert Wed 07-Mar-12 08:29:39

At the moment we are living in it. (£200 oberdraft). However once Dp gets a job (fingers crossed please, he has a 2nd interview today) we will slowly pay it off by reducing it at £50 a time until we can cancel it altogether.

I hate it.

I have a £100 overdraft on my sole account but that is there for emergencies (washing machine/car etc breaking) and we have manage not to touch it.

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