Compare Credit Cards with CardSmart

Home » Credit Card News » Spending Money » Ask for a temporary increase in your overdraft limit this Christmas

Ask for a temporary increase in your overdraft limit this Christmas

Avoid charges for going over your overdraft limit, says expert

More from Spending Money
24 November 2011

Ask for a temporary increase in your overdraft limit this Christmas”

Bookmarks

Britons should ask their bank to temporarily increase their overdraft limit in the run-up to Christmas, it has been claimed.

Financial expert Andrew Hagger claimed that many Brits are likely to increase their spending during the festive period but warned of the severe financial penalties for those who do not keep tabs on their outgoings.

He wrote on the Daily Mirror website: "If you go over your current account limit and into an unauthorised overdraft, the charges soon rack up.

"The safest option is to give your bank a quick call and ask for a temporary limit increase to see you through the festive period, just in case."

Lloyds TSB current account holders will be eligible for fees of £10 per day, up to a maximum of £80 per month, if they are more than £25 over their authorised overdraft limit.

Those looking to spread the cost of Christmas over a long period could apply for a credit card with an interest-free period, such as those from Tesco Bank and M&S Money.

Written by ©

Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
Compare More Credit Cards...

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. Read more... We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.