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@.

Search
  • FIRST POST
    • annemariem
    • By annemariem 17th Oct 16, 8:25 PM
    • 1Posts
    • 0Thanks
    annemariem
    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
    • 7,187 Posts
    • 8,844 Thanks
    PeacefulWaters
    • #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
    • 10,736 Posts
    • 7,025 Thanks
    bigadaj
    • #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
    • 18,547 Posts
    • 14,274 Thanks
    agrinnall
    • #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 http://www.moneysavingexpert.com/loans/credit-rating-credit-score
    • Dobbibill
    • By Dobbibill 17th Oct 16, 10:22 PM
    • 2,475 Posts
    • 3,570 Thanks
    Dobbibill
    • #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

234Posts Today

1,192Users online

Martin's Twitter
  • RT @TfLTravelAlerts: Oxford Circus and Bond Street stations now both reopened and all trains are stopping normally.

  • RT @metpoliceuk: We have not located any trace of suspects, evidence of shots fired or casualties. Officers still on scene. If you are in a?

  • My hopes and prayers are that this turns out to be nothing. Stay safe.

  • Follow Martin