Jump to content
House Price Crash Forum
US Citizen

Sorry Sir... The Computer Says "no"

Recommended Posts

Last week, I applied for a Lloyds TSB Premier Current Account. As a frequent traveller, they are offering :

  • Worldwide Travel Insurance for you and your family, including both Family and Winter sports cover,
  • AA Breakdown Cover including Home Start, Relay and Stay Mobile,
  • International Mobile Phone Insurance,
  • £500 interest-free Planned Overdraft* (subject to status, application and approval),
  • Home Emergency Cover,
  • Identity Theft Protection,
  • Save My NumbersTM,
  • Sentinel® Card Protection,
  • collect one Airmile per £1 spent through the Lloyds TSB AIRMILES Travel Service or claim a 7.5% discount (Price Match Guarantee applies) on package holidays, charter flights, international flights with hotel/car hire and more,
  • Airport Lounge Access and Airport Meet and Greet service at selected airports,
  • dedicated Premier Membership Services number to register and claim your account benefits 08456 04 04 40, if you need to call us from abroad +44 1633 262 336,
  • preferential charges when you make purchases abroad using your Lloyds TSB Premier Visa debit card,
  • preferential share dealing with Lloyds TSB, save money on every trade as well as reduced account charges,
  • competitive tiered interest rates and instant access with an Advantage Saver,
  • a VISA debit card you can use in over 500,000 places in the UK and 18 million outlets worldwide,
  • 24/7 access to PhoneBank® (based in the UK) on
  • 0845 3 000 000. You can speak to our advisors or use our quick automated service,
  • the efficiency and control of Internet Banking, if you are registered,
  • Premier Will Writing at discounted rates provided by Irwin Mitchell.

Believe me this is a good deal for £17.00 a monthjhAfter spending 30 minutes giving every detail of my life, they put the application forward and it was reffered. A couple of days later, I had a letter saying "Unfortunatly on this occassion, we are unable to offer you the above account. Please consider trying again in 6 months. In the meantime you can write to the credit reference agencies for a copy of your credit file (or words to this affect)"

I got my file online today and its says that I am on the Electorall Register, there is one active account, which has 6 years of "OK" next to it with my exisiting bank, Nationwide.

It seems I dont have enough debts or credit to be able to bank with them. I guess this is what they mean when they say we are going to start banking responsibly.

Actually, they mean, we will lend to those saddled with tons of debt and basically business as usual. Not even a thanks for the taxpayers money that has helped them survive.

They are a disgrace.

Share this post


Link to post
Share on other sites
Last week, I applied for a Lloyds TSB Premier Current Account. As a frequent traveller, they are offering :

...

Actually, they mean, we will lend to those saddled with tons of debt and basically business as usual. Not even a thanks for the taxpayers money that has helped them survive.

They are a disgrace.

IF you want a mortgage then they want someone with a good payback history, but if you want short term unsecured credit they prefer someone with debt who pays of the minimum and no more. Either way they get to make a profit.

Share this post


Link to post
Share on other sites
Last week, I applied for a Lloyds TSB Premier Current Account. As a frequent traveller, they are offering :
  • Worldwide Travel Insurance for you and your family, including both Family and Winter sports cover,

  • AA Breakdown Cover including Home Start, Relay and Stay Mobile,

  • International Mobile Phone Insurance,

  • £500 interest-free Planned Overdraft* (subject to status, application and approval),

  • Home Emergency Cover,

  • Identity Theft Protection,

  • Save My NumbersTM,

  • Sentinel® Card Protection,

  • collect one Airmile per £1 spent through the Lloyds TSB AIRMILES Travel Service or claim a 7.5% discount (Price Match Guarantee applies) on package holidays, charter flights, international flights with hotel/car hire and more,

  • Airport Lounge Access and Airport Meet and Greet service at selected airports,

  • dedicated Premier Membership Services number to register and claim your account benefits 08456 04 04 40, if you need to call us from abroad +44 1633 262 336,

  • preferential charges when you make purchases abroad using your Lloyds TSB Premier Visa debit card,

  • preferential share dealing with Lloyds TSB, save money on every trade as well as reduced account charges,

  • competitive tiered interest rates and instant access with an Advantage Saver,

  • a VISA debit card you can use in over 500,000 places in the UK and 18 million outlets worldwide,

  • 24/7 access to PhoneBank® (based in the UK) on

  • 0845 3 000 000. You can speak to our advisors or use our quick automated service,

  • the efficiency and control of Internet Banking, if you are registered,

  • Premier Will Writing at discounted rates provided by Irwin Mitchell.

Believe me this is a good deal for £17.00 a monthjhAfter spending 30 minutes giving every detail of my life, they put the application forward and it was reffered. A couple of days later, I had a letter saying "Unfortunatly on this occassion, we are unable to offer you the above account. Please consider trying again in 6 months. In the meantime you can write to the credit reference agencies for a copy of your credit file (or words to this affect)"

I got my file online today and its says that I am on the Electorall Register, there is one active account, which has 6 years of "OK" next to it with my exisiting bank, Nationwide.

It seems I dont have enough debts or credit to be able to bank with them. I guess this is what they mean when they say we are going to start banking responsibly.

Actually, they mean, we will lend to those saddled with tons of debt and basically business as usual. Not even a thanks for the taxpayers money that has helped them survive.

They are a disgrace.

basically sound slike you failed the credit check for the overdraft facility, debit card and foreign banking facilities. If you have never borrowed money then this will go against you - I knopw this is absurd but there you go. You can do several things:

(1) open an overdraft on your currently operating current account, don't use it, but have the facility there. This should then show up as a good credit record on your credit history (absurd I know)

(2) if you really want this lloyds-tsb account, ask them if you can open a simpler one to get started. Once you have operated this responsibly for several months they may aprove you for the more advanced account. They even have a simpe 'cash account' that doesn't (AFAIK) require a credit check, nor overdraft etc, but may allow you to build up some trust with them.

I know bankers are *rses, fwiw Nationwide, tho lacking the bells and whistles, also have never done me for any minor infringements, have a good working attitude, whereas my experience of high street PLCs is they have attractive products, that screw you further down the line. Also, remember that Nationwide's debit and credit cards have pretty much the most competitive foreign currency charges going at no extra charge

Edited by Si1

Share this post


Link to post
Share on other sites
Last week, I applied for a Lloyds TSB Premier Current Account. As a frequent traveller, they are offering :
  • Worldwide Travel Insurance for you and your family, including both Family and Winter sports cover,

  • AA Breakdown Cover including Home Start, Relay and Stay Mobile,

  • International Mobile Phone Insurance,

  • £500 interest-free Planned Overdraft* (subject to status, application and approval),

  • Home Emergency Cover,

  • Identity Theft Protection,

  • Save My NumbersTM,

  • Sentinel® Card Protection,

  • collect one Airmile per £1 spent through the Lloyds TSB AIRMILES Travel Service or claim a 7.5% discount (Price Match Guarantee applies) on package holidays, charter flights, international flights with hotel/car hire and more,

  • Airport Lounge Access and Airport Meet and Greet service at selected airports,

  • dedicated Premier Membership Services number to register and claim your account benefits 08456 04 04 40, if you need to call us from abroad +44 1633 262 336,

  • preferential charges when you make purchases abroad using your Lloyds TSB Premier Visa debit card,

  • preferential share dealing with Lloyds TSB, save money on every trade as well as reduced account charges,

  • competitive tiered interest rates and instant access with an Advantage Saver,

  • a VISA debit card you can use in over 500,000 places in the UK and 18 million outlets worldwide,

  • 24/7 access to PhoneBank® (based in the UK) on

  • 0845 3 000 000. You can speak to our advisors or use our quick automated service,

  • the efficiency and control of Internet Banking, if you are registered,

  • Premier Will Writing at discounted rates provided by Irwin Mitchell.

Believe me this is a good deal for £17.00 a monthjhAfter spending 30 minutes giving every detail of my life, they put the application forward and it was reffered. A couple of days later, I had a letter saying "Unfortunatly on this occassion, we are unable to offer you the above account. Please consider trying again in 6 months. In the meantime you can write to the credit reference agencies for a copy of your credit file (or words to this affect)"

I got my file online today and its says that I am on the Electorall Register, there is one active account, which has 6 years of "OK" next to it with my exisiting bank, Nationwide.

It seems I dont have enough debts or credit to be able to bank with them. I guess this is what they mean when they say we are going to start banking responsibly.

Actually, they mean, we will lend to those saddled with tons of debt and basically business as usual. Not even a thanks for the taxpayers money that has helped them survive.

They are a disgrace.

Bizzarely credit records don't often work like people they do. In essence you have to reach a minimum score (defined by each institution base on their own models)... you get plus points for things like having a stable bank account, having and paying off debt, age, amrital history etc etc ..... negative points emerge for things like too many credit searches, missing a payment, being within x% of your limit etc etc..... if what you say is true then they are effectively saying that you have no minus areas seemingly but equally have not built up sufficient positive points to pass the score ( this happens quite often).... pretty much the only way through this is to build up a track record, and the only way to do it without it costing you money is take a credit card and pay it off every month by direct debit.

While not having debt etc is very laudable...... if it prevents you getting the products you want then its worth working round the system... after all you never know when you may decide you want a loan or a credit card for some reason and then its too late....... you could get a cashback type credit card if you really wanted to and then you'd actually get paid for using it as well as developing your credit record.

Share this post


Link to post
Share on other sites
I got my rating back last month and its 999/1000. Nice one, I`m not on EL, got couple CC, dont work and at present I dont live in UK.

I got refused a credit card with 972 :lol:

Share this post


Link to post
Share on other sites

It's funny isn't it, if you have a credit card, all they want you to do is leave it sitting there, racking up interest at 20-odd% a year while you pay off the minimum.

However my old student account, which now has an overdraft rate of about the same rate, and £100DR sitting there racking up at some crazy rate, incurs a random angry letter from Natwest every few months saying they want me to pay some cash into it...

Share this post


Link to post
Share on other sites
It's a sad old world where you need to think about your credit score.

It certainly is my credit score is 343. I guess you just gets points for being of the EL and having a bank account with no debts. In answer to some earlier posts, Lloyds can kiss my mooney, I have been in debt in the very distant past and wont be revisiting it ever again. I am sticking with Nationwide (Free cash machine withdrawls abroad" :)

In this credit cycle, how do you get credit, if no-one will ever lend you credit. If you can get back without credit, why would you want it. F--k, I'm confusing myself.

Share this post


Link to post
Share on other sites
It certainly is my credit score is 343. I guess you just gets points for being of the EL and having a bank account with no debts. In answer to some earlier posts, Lloyds can kiss my mooney, I have been in debt in the very distant past and wont be revisiting it ever again. I am sticking with Nationwide (Free cash machine withdrawls abroad" :)

In this credit cycle, how do you get credit, if no-one will ever lend you credit. If you can get back without credit, why would you want it. F--k, I'm confusing myself.

Why do you need to know that it's 343? I have no idea what mine is and can't see that I'll ever know. Do people compare them in the same way they do with cars they drive etc?

Share this post


Link to post
Share on other sites
Why do you need to know that it's 343? I have no idea what mine is and can't see that I'll ever know. Do people compare them in the same way they do with cars they drive etc?

I was just following the crowdz. :)

Share this post


Link to post
Share on other sites

People aren't usually told their actual score.

Quick hint though. If the bank has made a credit decision about you, ask to the the bank's assessment they've received of your creditworthiness. They might try to refuse and tell you to go to the credit reference agency, but you can insist, and threaten to hit them with a Data Subject Access request (and complaint to the Information Commissioner) if they refuse.

Often agencies like Experian and Equifax don't update their records properly and if you catch them out, kerching! you can ask the agency for compensation under the Data Protection Act.

Useful piece of legislation the DPA1998.

Share this post


Link to post
Share on other sites

If you failed on the credit score, is it possible to get the same account without the overdraft facility?

Other posibility, did you state your income? and if so was it above their minimum threshold?

I have the Barclays Premier account (which is an excellent service), but for this you need a minimum salary of £100,000 a year, regardless of your credit score.

If you can't get a premier account, then another option to get pretty-much all the benefits you list above is an American Express Platinum card (charge card, not credit card). It has a slightly lower income requirement than premier accounts do, but similar perks. It's 0% intererest (permanently, on everything), and has an annual charge of £300.

Share this post


Link to post
Share on other sites

When I got my Barclays Premier I failed the credit test as well, even though my mortgage was with them and I had a not insignificant sum of money with them. They said I had to take a credit test to get a credit card, even though I didn't want one, so they might say the same about the overdraft... Anyway, they can, and will overrule the credit scoring procedure if you give them enough reason to.

Share this post


Link to post
Share on other sites
Why do you need to know that it's 343? I have no idea what mine is and can't see that I'll ever know. Do people compare them in the same way they do with cars they drive etc?

Like most people, I didn't care about it until I was refused credit. I wanted to know why.

Share this post


Link to post
Share on other sites

It is stupid yes, but the logic is if you have little or no current/previous credit accounts on your file then there isn't enough data to measure against when trying to calculate your risk. A bit like when you first get your driving license, you've had no previous accidents/driving offenses yet your insurance premium will be sky high. <_<

Not trying to defend this crazy credit system, just trying to explain it. Oh, and EVERY financial company will use different bureau references/characteristics when scoring potential customers. You may of only just missed out on the Lloyd's account, and if this is the case, there's a good chance you'd be accepted for a similar product from another bank.

Edited by PopGun

Share this post


Link to post
Share on other sites
Guest theboltonfury
When I got my Barclays Premier I failed the credit test as well, even though my mortgage was with them and I had a not insignificant sum of money with them. They said I had to take a credit test to get a credit card, even though I didn't want one, so they might say the same about the overdraft... Anyway, they can, and will overrule the credit scoring procedure if you give them enough reason to.

I have had a Premier account for 7 years. It used to mean something in terms of service and perks. I used to have a local number which was always answered and for this I paid £10 a month.

The service recieved and account terms stopped being Premier some time ago.

Share this post


Link to post
Share on other sites
When I got my Barclays Premier I failed the credit test as well, even though my mortgage was with them and I had a not insignificant sum of money with them. They said I had to take a credit test to get a credit card, even though I didn't want one, so they might say the same about the overdraft... Anyway, they can, and will overrule the credit scoring procedure if you give them enough reason to.

I dont do begging. But I understand your point of view.

Share this post


Link to post
Share on other sites
It's a sad old world where you need to think about your credit score.

Iopened a couple of bonds with HSBC a few months ago and got given apremier account with some similar benifits for free. Dont use it much and wonder what would happen if i put in an insurance claim in a dire situation.

Share this post


Link to post
Share on other sites
Last week, I applied for a Lloyds TSB Premier Current Account. As a frequent traveller, they are offering :
  • Worldwide Travel Insurance for you and your family, including both Family and Winter sports cover,

  • AA Breakdown Cover including Home Start, Relay and Stay Mobile,

  • International Mobile Phone Insurance,

  • £500 interest-free Planned Overdraft* (subject to status, application and approval),

  • Home Emergency Cover,

  • Identity Theft Protection,

  • Save My NumbersTM,

  • Sentinel® Card Protection,

  • collect one Airmile per £1 spent through the Lloyds TSB AIRMILES Travel Service or claim a 7.5% discount (Price Match Guarantee applies) on package holidays, charter flights, international flights with hotel/car hire and more,

  • Airport Lounge Access and Airport Meet and Greet service at selected airports,

  • dedicated Premier Membership Services number to register and claim your account benefits 08456 04 04 40, if you need to call us from abroad +44 1633 262 336,

  • preferential charges when you make purchases abroad using your Lloyds TSB Premier Visa debit card,

  • preferential share dealing with Lloyds TSB, save money on every trade as well as reduced account charges,

  • competitive tiered interest rates and instant access with an Advantage Saver,

  • a VISA debit card you can use in over 500,000 places in the UK and 18 million outlets worldwide,

  • 24/7 access to PhoneBank® (based in the UK) on

  • 0845 3 000 000. You can speak to our advisors or use our quick automated service,

  • the efficiency and control of Internet Banking, if you are registered,

  • Premier Will Writing at discounted rates provided by Irwin Mitchell.

Believe me this is a good deal for £17.00 a monthjhAfter spending 30 minutes giving every detail of my life, they put the application forward and it was reffered. A couple of days later, I had a letter saying "Unfortunatly on this occassion, we are unable to offer you the above account. Please consider trying again in 6 months. In the meantime you can write to the credit reference agencies for a copy of your credit file (or words to this affect)"

I got my file online today and its says that I am on the Electorall Register, there is one active account, which has 6 years of "OK" next to it with my exisiting bank, Nationwide.

It seems I dont have enough debts or credit to be able to bank with them. I guess this is what they mean when they say we are going to start banking responsibly.

Actually, they mean, we will lend to those saddled with tons of debt and basically business as usual. Not even a thanks for the taxpayers money that has helped them survive.

They are a disgrace.

Hello,

Don't worry to much about it you might get a call in the next few weeks out of the blue saying that you had been accepted.

That happened to me. Applied for one of their platinium credit card 1 month after opening account with them. Not being English and because could not really prove any record of previous account (not to their standard anyway) refused and told me to reply in 6 months.

2 weeks later received my platinum card in the post!!!!! Saying that I had been accepted.

You will see what happen but you might have a good surprise in the post.

Maya

Edited by Mayalabeille

Share this post


Link to post
Share on other sites
If you failed on the credit score, is it possible to get the same account without the overdraft facility?

Other posibility, did you state your income? and if so was it above their minimum threshold?

I have the Barclays Premier account (which is an excellent service), but for this you need a minimum salary of £100,000 a year, regardless of your credit score.

If you can't get a premier account, then another option to get pretty-much all the benefits you list above is an American Express Platinum card (charge card, not credit card). It has a slightly lower income requirement than premier accounts do, but similar perks. It's 0% intererest (permanently, on everything), and has an annual charge of £300.

Silly Prat

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   287 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.