Just been told HSBC internal score is 70 - what does this mean to me?

moneysavingallday

I just got told by HSBC that my Behaviour Score is 70. I've had the account open for 11 weeks. What does this Behaviour Score mean to me? I would very much like a credit card and/or loan from HSBC. My credit file has no problems on it but it is "thin" and I am not on the Voters Roll till 1st December. Can this particular Behaviour Score help me get additional facilities or whatever?

mcjordi

ask them what it means

Aegis

It means you'll be offered the chance to go for some of the products that you've asked about. In fact, it should mean that the HSBC staff will let you apply for damn near anything. Of course, you'll still need to pass credit scoring and affordability checks, but overall a score of 70 would mean you're seen as a pretty damn good customer.

moneysavingallday

Aegis wrote: »

It means you'll be offered the chance to go for some of the products that you've asked about. In fact, it should mean that the HSBC staff will let you apply for damn near anything. Of course, you'll still need to pass credit scoring and affordability checks, but overall a score of 70 would mean you're seen as a pretty damn good customer.

That's really cool. I wonder why they see as such a good customer?

Aegis

moneysavingallday wrote: »

That's really cool. I wonder why they see as such a good customer?

If you're not using your overdraft much, not taking too much money out with your debit card and have a regular mandated credit coming into your account, you'll generally do well on behaviour score.

Scousebird_2

Aegis wrote: »

If you're not using your overdraft much, not taking too much money out with your debit card and have a regular mandated credit coming into your account, you'll generally do well on behaviour score.

I will say that you will be allowed to apply for most lending products and the branch will spend time with you in view of these requests rarther than putting you on the phone.

Lots of factors affect what facillities you are allowed when it comes to behaviour scores. Below 40 means that you are technically sub-prime and you can forget about any lending, 40-75 means you can apply, but the latter end of the scale is more favourable, if you are over 80 then you are ''the cr!me de la cr!me'' of HSBC.

Lots of factors can affect behaviour scoring, making use of existing facilities can help, doing as few cash withdrawrals as possible helps, making sure all direct debits and standing orders are covered and putting funds into savings accounts also helps. A mandated salary is an absolute must, and if you minimise the use of branch banking and stick to telephone and internet, this is also recorded on the file but does not always affect the systems scoring.

Behaviour score is just one element of the credit scoring process-Experian data, voters roll information, and the standard of Identification on the system aslo contributes the the decision. So the scoring can sometimes really on indicate those who are unlikely to be accepted. Identifying if something scores for acceptance when the behaviour score is high is un-determinable. It is much harder to judge good behaviour, than that which is negligable/adverse.

Lokolo

You say cash withdrawels - is that really only cash withdrawels or spending as well?

moneysavingallday

Scousebird wrote: »

the branch will spend time with you in view of these requests rarther than putting you on the phone.

what do you mean? If I phone up for a product they will invite me into the branch and sit by my side while I apply?

Scousebird wrote: »

Lots of factors affect what facillities you are allowed when it comes to behaviour scores. Below 40 means that you are technically sub-prime and you can forget about any lending, 40-75 means you can apply, but the latter end of the scale is more favourable, if you are over 80 then you are ''the cr!me de la cr!me'' of HSBC.

so me being a 70 after just 11 weeks with HSBC seems a bit...strange...then?

Scousebird wrote: »

Identifying if something scores for acceptance when the behaviour score is high is un-determinable. .

I don't understand.

[Deleted User]

This should be helpful:

http://forums.moneysavingexpert.com/showthread.html?t=665563