Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • annemariem
    • By annemariem 17th Oct 16, 8:25 PM
    • 1Posts
    • 0Thanks
    Why was I rejected for a current account?
    • #1
    • 17th Oct 16, 8:25 PM
    Why was I rejected for a current account? 17th Oct 16 at 8:25 PM
    I want to switch current accounts so I tried to open a new current account with TSB and more recently with Halifax. I was rejected for both accounts without any explanation. My first thought was that I had somehow accumulated a bad credit rating but I checked today on Experian and my credit score is 999.

    The current account I have at the moment is with Bank of Ireland. I'm originally from Northern Ireland but have relocated to London so want to switch banks so I can have a branch nearby.

    I have a permanent job which I've been in for over a year and rent a flat with my partner. The only debt I have is my student loan. I've never gone into my overdraft and can't think of anything else which would make them reject my application.

    Does anyone else have any idea why this has happened at 2 banks now?
Page 1
    • PeacefulWaters
    • By PeacefulWaters 17th Oct 16, 8:30 PM
    • 6,843 Posts
    • 8,431 Thanks
    • #2
    • 17th Oct 16, 8:30 PM
    • #2
    • 17th Oct 16, 8:30 PM
    Shows how meaningless a 999 credit score can be.

    Time at address.
    Time in current job.
    Time registered to vote at address.

    These things are against you on any credit scoring system.
    • bigadaj
    • By bigadaj 17th Oct 16, 9:19 PM
    • 9,923 Posts
    • 6,334 Thanks
    • #3
    • 17th Oct 16, 9:19 PM
    • #3
    • 17th Oct 16, 9:19 PM
    Maybe apply for an account with experian?
    • agrinnall
    • By agrinnall 17th Oct 16, 9:19 PM
    • 18,413 Posts
    • 14,129 Thanks
    • #4
    • 17th Oct 16, 9:19 PM
    • #4
    • 17th Oct 16, 9:19 PM
    Time in job is probably OK, and if you've been at the same address for the last year that's likely to be OK too. Are you on the electoral register at that address? If not then that will definitely count against you.

    I would suggest that you get your credit reports from all 3 credit reference agencies and check for any real or incorrect negative issued in them. If there are no problems then it could be a marker on National Hunter or CIFAS that is counting against you.

    Read this guide
    • Dobbibill
    • By Dobbibill 17th Oct 16, 10:22 PM
    • 2,281 Posts
    • 3,411 Thanks
    • #5
    • 17th Oct 16, 10:22 PM
    • #5
    • 17th Oct 16, 10:22 PM
    Did either of them offer you their basic account instead when they declined the current account?

    Worth following up agrinall's advice and checking for CIFAS etc.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

369Posts Today

4,457Users online

Martin's Twitter
  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion!

  • Luciana is on the advisory board of @mmhpi (we have MPs from most parties)

  • Follow Martin