Lloyds TSB Internal Scoring

SparciaM

I have an account with Lloyds, opened for about 3 months maybe and wanted to convert it into a student account as I'm going back to Uni.

When I did the application online, it actually opened me another current account. So when I called up I was advised that I had to go into a branch and get them to convert it.

The lady got my details up and was going through my account, saying that it's run good etc (there is an average of £600 in the account every month and I've never been overdrawn - I actually decreased the £1100 OD they gave me at acc opening to £100), and then she said that I couldn't convert my account as I'm a number 6. I asked what this was and she advised it was the internal scoring and that to have a Student account you have to be 5 or below (I'm guessing 1 being best customer and 10 being worst).

She couldn't give me any reason as to why I was a 6, or how to get it below a 5 or anything actually, but just said that the internal score is updated on the 22nd Dec and I should try again then.

My question is: Is there a way to go from a 6 to below 5?
Is it maybe because I've only had my account a few months?
Could decreasing my OD have something to do with it?

I have a good external credit score (I do have 5 CCs on 0% that are being shut down 1 a month from Jan - when they finish), but I really couldn't work out why they wouldn't convert my account considering that when I did open the account, they offered me everything under the sun.

skyrider007

Don't bother with them. If your external credit score is good then go for Barclays, NatWest, Halifax or HSBC.

moneysavingallday

Lloyds TSB are tools. I was a 5 with them last time I checked and I was running the account perfectly, never overdrawn and had an average balance on my current account of £4k. Eff them. Go to HSBC or Halifax.

Mike1989

Not going to make much difference going to the Halifax... Unless the appeal manages to succeed in stopping the merger, not sure they still can. So if you go there you'll only end up with Lloyd's anyway. Shame really as Halifax have been great with me and have always had good savings offers available.

SparciaM

Thanks for the replies, no help whatsoever, but thanks for your opinions on Lloyds

I've never had any problems with them, and they're better than my previous bank, I just wanted ways to up my internal score to convert to an account.

I'll see what they say after Dec 22nd.

moneysavingallday

There ARE no ways to up your score. With a normal bank (like HSBC or Barclays) paying in regular income, not going overdrawn etc would count for something. With LTSB - anything goes - they are a law unto themselves. Chances are your internal score will be even worse come Dec 22nd. Sorry.

SparciaM

moneysavingallday - do you have facts or proof that there are no ways of upping your score, or that the lloyds score is completely random? If not, I don't see the point in your post.

I guess I'll wait until Dec and see what happens. I have applied for a Halifax account (just incase) and I wouldn't touch HSBC if you paid me.

~Chameleon~

moneysavingallday wrote: »

There ARE no ways to up your score. With a normal bank (like HSBC or Barclays) paying in regular income, not going overdrawn etc would count for something. With LTSB - anything goes - they are a law unto themselves. Chances are your internal score will be even worse come Dec 22nd. Sorry.

Your opinion is neither here nor there and juging by your previous posts you just love to make inflammatory and trolling posts than partake in factual matter. Not very ladylike behaviour now is it :rolleyes:

SparciaM - I have no idea how Lloyds work the internal scoring and wasn't even aware that they told customers what their score was until reading your post. I do know that they make all decisions internally though and don't search external credit files when you apply for an 'inhouse' product such as a credit card, which can be very beneficial at times

jonesMUFCforever

Why is OP opening a student account at Christmas?
There must be covert information that he has not revealed which suggests that is the reason he was refused a student account.

SparciaM

I'm opening a student account at Christmas, as my course starts in March and just received my confirmation letter and I wanted to get things sorted out before going to Uni.

There is no covert information at all, I just wanted everything in place before moving back home to start my course. Being 28 and a mature student working full time, I thought it'd be best to apply and get things sorted before I leave my job and have no income.

If there is anything else you'd like to know JonesMUSFCforever, please let me know

moneysavingallday

SparciaM wrote: »

I'm opening a student account at Christmas, as my course starts in March and just received my confirmation letter and I wanted to get things sorted out before going to Uni.

There is no covert information at all, I just wanted everything in place before moving back home to start my course. Being 28 and a mature student working full time, I thought it'd be best to apply and get things sorted before I leave my job and have no income.

If there is anything else you'd like to know JonesMUSFCforever, please let me know

You don't seem to like the answers anybody gives you and you are in fact rude to the people who take the time to respond to you. So don't post your stupid questions then! Lloyds are unlikely to give you a student account because you're obviously not telling us the full story lol