Halifax current account - application criteria?

YorkshireBoy

cottager wrote: »

I imagine in the legislation there's a trigger date before which lenders/banks are not obliged to report, so maybe they cannot be forced to

It's to do with the original T&C's you signed up to. Back in those days I understand they didn't have the same 'privacy statements' you had to agree to when applying for revolving credit products such as overdrafts and credit cards.

I suppose they could just serve you with a notice of variation saying they were now going to report your account but, possibly because it costs them to report your account(?), many of them still choose to register your account with the CRA's only when there is some 'black data' to report.

but can we at least request they do so? -- have you tried?

Most certainly not! I have enough available credit as it is...I don't want my existing lenders to know I've another £13K available if I wanted to use it.

Mikeyorks

There's no regular funding requirement for their standard Current account ... if you're not requiring an overdraft (4th in the list) :

http://www.halifax.co.uk/bankaccounts/bankaccountsweoffer.asp

I suspect they will relax the current bar on FPs from their Savings Accounts, in due course. Possibly in a couple of years ..... once they've managed to get it fully operational on their Current accounts!

cottager

YorkshireBoy wrote:

It's to do with the original T&C's you signed up to.

... many of them still choose to register your account with the CRA's only when there is some 'black data' to report.

Yes I see, that makes sense.
So long as they then reported the 'white data' too...

Most certainly not!

:rotfl::rotfl:

OK, point taken in your case then

There's no regular funding requirement for their standard Current account ... if you're not requiring an overdraft (4th in the list)

I'd been there, but the significance of that little sentence escaped me. Probably settles it then... cheers!

I suspect they will relax the current bar on FPs from their Savings Accounts, in due course. Possibly in a couple of years ..... once they've managed to get it fully operational on their Current accounts!

They'll surely have to eventually, as FP becomes more and more widespread. There will always be accounts where it couldn't or shouldn't apply, but for any 'standard' unrestricted access e-savings account with its own sort code and account number, from which you can already make BACS payments, I can't see how they could not offer it. But as you say, let's get what they're trying to do already right first!

itsnothing wrote:

You could get an easy cash account which is not credit scored and is just a basic pay in and take out account!

Thanks, glad you chipped in with the thought, but regular payments in required (so it says), which in my case they wouldn't be.

Again, thanks all.

Starbug

Theres nothing high interest about my halifax high interest current account, though i do believe i was credit scored when opening.