Internal credit rating with Natwest

Brian1966

Hi all
My credit rating is fairly low hence I opened a Step account 4 yrs ago.
During that time I have had a couple of returned direct debits but nothing more, paying electric, broadband, Sky, car insurance etc.
Just recently approved for Advantage Gold with chequebook but solo not servicecard. Also have First reserve account and E-savings all managed online.
My salary is now credited by Bacs too.
Also planning to open a child trust fund account with them too when my son is born in next few weeks.
My question is, likelihood of being given Servicecard at some point.
Would also like a credit card with small limit, possibly small overdraft too.
Perfectly happy with Natwest as a bank but a few extra facilities would be nice.
If not likely to accomodate me does anyone have any other banking suggestions?
Thank you in advance

Brian1966

Just to update...
Applied for small overdraft via online banking today and got declined due to credit scoring.
Any likelihood of geting servicecard or credit card?
Have no problems paying my monthly fee for the 'gold' benefits will this work in my favour?

chambta

Whether you have a basic or packaged account makes no difference to the facilities you may be offered. If it's a step account you have then I'm 99% sure that you cannot have an o/d on these accounts so not sure what you applied for.

Best bet is to apply for a full current account and take it from there. If approved a few month's use of it is likely to improve matters.

Brian1966

Hi and thanks for reply.
Have just recently opened a full current account, the advantage gold, have cheque book and ANOTHER solo card, still have solo on Step account plus another on the First reserve. Have some savings in the e-direct account too.
Is my full current account including the payment of fees reported to CRA's?

lufcgirl

With Advantage Gold, they are basically earning money from you having a current account, but their terms and conditions state that a servicecard is subject to credit status...which is the most likely reason as to why you'd have been given a Solo card.

You can't have an overdraft on a step account. A current account isn't credit, so although it'll be credit checked, how the account is run (unless companies go into default through bounced DD's) won't be on CRA's.

If I'm wrong I'm sure someone will be along to correct me

Brian1966

Hi
The overdraft request was on the Adavantage gold which is a full current account, offers various packaged benefits for 12.95 p/m inc discounts on loans, credit cards and overdrafts.
Have ran my step account well and plan to run this current account equally as well, I heard somewhere that Natwest have a PAL screen saying what a customer can have and allocating a number between 1 and 10 to assess risk.
When I opened the advantage gold current account it was credit scored and on completion of application it offered a chance to apply for credit card etc hence the reason for my overdraft request today.
Please be aware that it is a full current account not the step account although that account is still open.
Any advice greatfully received

Scousebird_2

Close the Step account and run the Advantage Gold account without any returns to improve your chances of obtaining a servicecard.

Brian1966

Hi and thanks for replies so far.
Will run the account in credit with no returned D/ds and pay my monthly fee on time every month.
Really hoping that Natwest as a bank will look favourably in considering me for a servicecard and HOPEFULLY a credit card will a small limit.
Have been with them for 4 years now and as stated have some savings with them in addition to my NEW current account and my old step account.
At least a cheque book must be a step in the right direction so fingers crossed.

Kavanne

What credit problems have you had? Because not matter how well you behave with natwest they will always look at that too. Sorry

Brian1966

Not had any problems for around 4 yrs now, couple of defaults, 1 ccj but that was 8 yrs ago.
Was credit checked for the current account which I have, BT, British gas and all utilities etc paid on time every time.
Two Provident loans settled, one on time the other one early.

TheAnalyst

Glad I seen this, just been through exactly the same thing with them myself.

My credit was shot, the only account could open 3 years ago was a STEP account, I run it well (perhaps 2 over limit occasions total) for the whole 3 years.
One day I'm on the phone to them and they offered to upgrade me to a regular current account so I applied, signed the forms and was accepted.

My card arrives, its another bloody SOLO, call the branch and she explains that I have to run my account for a few months with wages going in and DD's going out and then I should be accepted for the servicecard and overdraft. I asked about the STEP account and does it not count that I run that in good order for 3 years to be told sorry sir you do not build ANY internal credit score on a STEP.

This was 6 months ago, about 2 weeks ago I applied for an overdraft online and was declined! The account has been run perfectly for the 6 months and my credit file is now perfect bar a few previous searches (no ccj's, defaults or late payments)
I called my branch and they went through a manual application over the phone which was again declined, all she said was that it's not your credit score... must be something within your application, the reason was "do not meet our lending criteria" !!!

Now... I am a single man, earn £31200 p/a, have minimal debt, nothing outstanding on my credit file, have been ad address for 3 years and on electoral role wages are paid into my account every week and have been with Natwest for 3 years with no issues. If I "do not meet their criteria" then I don't bloody know who does! :mad:

Had a read on here and applied for a free Lloyds TSB current account last week with 4% interest AER (compared with Natwest 0.1 AER!!) & Visa debit card, was accepted straight away. Took the forms in to my local branch with ID and also asked for a cheque book & £100 overdraft while I was there... no problem sir, we will get that arranged for you.

Today (2 days later!) my new debit card arrived and another letter thanking me for coming in and confirming my chequebook is on it's way and overdraft has been arranged. :T

Tomorrow on my lunch I'm going to take great pleasure going into my Natwest branch and closing my STEP account, Current account and 2 savings accounts there and then, I have never experienced such inpersonal service, just make you feel like another number... good riddance NATWEST!!! Now i'm only speaking for myself but if you were asking my advice I'd be looking elsewhere, they clearly have some funny idea's about simple things like small overdrafts.