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  • FIRST POST
    • annemariem
    • By annemariem 17th Oct 16, 8:25 PM
    • 1Posts
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    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
    • 6,563 Posts
    • 8,053 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
    • 9,343 Posts
    • 5,973 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
    • 17,875 Posts
    • 13,559 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
    • 2,169 Posts
    • 3,300 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.
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