Please don’t stooze student overdraft could get you in trouble
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Wasn’t planning on it. As it’ll look terrible on my credit report. The interest if get on it can easily be outweighed by 4 hours overtime. It’s really not worth it (the overdraft) 
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Good lad but it can get you exited from banks too
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Pretty sure overdraft use doesn’t impact you like credit card usage does.
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You know more about this stuff than me so maybe it doesn’t affect credit. I don’t need the OD so I’ll simply keep it for emergencies. Who knows, maybe Nationwide won’t even give me the OD. I shall have to wait and see.
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You’ll get to uni and spend it 
I’ve met many students and they all use the overdraft, times are very tight without mum and dad and you come to realise that very quickly!
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My overdraft usage from my Santander student account was never reported anywhere.
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You’ll probably end up spending it (I think everyone does) but no one cares if students have overdrafts and you’re not going to be sat there looking to mortgage a house - so you don’t really need to worry about a credit report.
If the banks aren’t closing your account over it and you settle the balance in full, it’s really not an issue.
No reason not to stooze it. £3000 at 3% is still enough to cover your yearly Monzo perks subscription (assuming you keep it still).
I’m still stoozing my HSBC graduate account, btw.
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Only £1k in first year, £2k in 2nd year, £3k in 3rd year.
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Still 60 a year on your £84 a year perks and I’m pretty sure you can get more than £30 in interest out of £1000, I was just being conservative since I know rates can change.
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Chase 2.25% + spend £500 per month and receive £10pm cashback (£120pa) plus £22.50 interest.
£142.50 give or take, still trumps the figures quoted otherwise 
The Wetherspoons and Aruba Bar in Bournemouth kindly looked after the majority of my student overdraft back in the day. 
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In my university days (2007…ugh) I was freshly 18, never had access to any money and generally never educated on it, and was given £5,000 overdraft by Halifax interest free. Only the interest free was for my first year only. I didn’t know/realise/care.
Stupidly I just saw the money as “my” money. This is before any mobile apps - you still just got a mini statement from the ATM to check your available balance (it would just be your overdraft and your money combined, not separated) - and generally you just paid as you shopped and “hoped” it went through.
After the first year the fee was a (as they put it) “simple” flat £3 PER DAY fee.
It took me the best part of 7 years to pay it all off. Every month I was only able to realistically put away £100-150 with a £90 fee coming out.
Thankfully things have changed even since then with such high fees.
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Apparently the average overdraft interest rate is 39.9% at the moment. Borrowing £5K for 31 days would cost you £145 in interest, or £4.67 a day.
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And the student will say it is only £4 a day…
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True. Though % will mean fees will reduce.
In my case I was charged £3 whether I was £5,000 overdrawn or £1 overdrawn.
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Borrowing on an overdraft is just mental.
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Indeed. Which is what you often learn young.
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BC Avios Plus now my everyday card. Think I’m going to move everything over to the Barclays Premier current account as well and have all my main banking with them.
One of the other credit cards has got to go as well, leaning towards binning Lloyds Ultra. It’s only a backup to the Avios card and to use abroad so won’t get too much use.
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Got rid of most of my regular savers.
Current account:
NatWest Reward - main, salary paid into it
Santander Edge - bills paid from here, has a £1800 overdraft that isn’t used
First Direct - barely used
HSBC -close branch so sometimes used for paying in money
Nationwide - barely used
Credit cards:
NatWest travel reward
Amex Everyday Rewards
HSBC Purchase Plus
Nationwide Member Card
Savings:
Santander ISA
Santander Edge saver
NatWest ISA
HSBC ISA
Yorkshire Building Society - regular saver, easy access saver
First direct - regular saver
NatWest - regular saver
HSBC S&S ISA
NatWest S&S ISA