Halifax - Refused current account

dashhowe

Thought it was time to move my current account as my existing bank has poor opening hours,and no interest is paid on their current account. I choose halifax reward current account which pays £5 for every month when £1000 is paid in (wages) but since my application, i have a letter of rejection!! Ive had my current account with my existing bank for over 18 years, i have a stable job with the same employer for over 18 years, i never go overdrawn (hence won't use overdraft facilitiy) i am home owner with mortgage- never missed a payment, all utility bills are paid via direct debit so none of these have never been missed too!! I have 2 visa accounts which i use from time to time but the balance is normally paid up in full before any interest is added. Due to Halifax's policy they can only tell me i don't meet their criteria- but can't tell me why for security reasons????

BASFORDLAD

appeal it, provide wage slips/statements etc, also check ur credit file

dashhowe

Thank's, thought the banks would bend over backwards for our custom, bit of a shock getting turned down, it's not as if i'm desperate for a current account with them, but it would benefit myself moving banks.

sofa_surfer

I was turned down also for the same account; not sure yet whether to appeal or not...

Perhaps with all those MSErs opening up to 6 reward accounts, the quota Halifax/BOS had in mind filled up very quickly?

milfordmadness

sofa_surfer wrote: »

I was turned down also for the same account; not sure yet whether to appeal or not...

Perhaps with all those MSErs opening up to 6 reward accounts, the quota Halifax/BOS had in mind filled up very quickly?

well I have the record - 102 applications all turned down and cos of how many I made in the short space of time, they have added cifas markers against me lol

Thought it may make you laugh and see things aren't that bad after all...... Oh, in case you haven't followed my thread - I bank with Halifax too and have done for several years with no debt and never used an overdraft!!!!

10_66

dashhowe wrote: »

Thought it was time to move my current account as my existing bank has poor opening hours,and no interest is paid on their current account. I choose halifax reward current account which pays £5 for every month when £1000 is paid in (wages) but since my application, i have a letter of rejection!! Ive had my current account with my existing bank for over 18 years, i have a stable job with the same employer for over 18 years, i never go overdrawn (hence won't use overdraft facilitiy) i am home owner with mortgage- never missed a payment, all utility bills are paid via direct debit so none of these have never been missed too!! I have 2 visa accounts which i use from time to time but the balance is normally paid up in full before any interest is added. Due to Halifax's policy they can only tell me i don't meet their criteria- but can't tell me why for security reasons????

This is exactly the same as my husband. We already have a joint HICA with them, each of us applied for 3 Reward Accounts, one of his was declined. The letter that came said the same as yours, However, on appealing he was advised by "Customer (don't)Care" that it was because he already had 2 Reward Accounts. On escalating it to Customer Relations, they've reverted to the story of the letter (credit score not good enough). We know it can't be his credit rating, so we're now concerned that there's something on Equifax/Experian/Callcredit's report that shouldn't be there, that we've ordered reports to see what's going on. He asked how their credit score works, but all they'd say was they act upon what Equifax/Experian/Callcredit recommend. Just went round in circles.

opinions4u

10_66 wrote: »

This is exactly the same as my husband. We already have a joint HICA with them, each of us applied for 3 Reward Accounts, one of his was declined. The letter that came said the same as yours, However, on appealing he was advised by "Customer (don't)Care" that it was because he already had 2 Reward Accounts. On escalating it to Customer Relations, they've reverted to the story of the letter (credit score not good enough). We know it can't be his credit rating, so we're now concerned that there's something on Equifax/Experian/Callcredit's report that shouldn't be there, that we've ordered reports to see what's going on. He asked how their credit score works, but all they'd say was they act upon what Equifax/Experian/Callcredit recommend. Just went round in circles.

Credit scoring can differ from one organisation to another and also from one day to another as well.

While this may not be the case today, there always used to be two parts to the Halifax credit scoring system. They were automated, so the customer and the seller couldn't see what was happening/had happened.

First part was an internal score. How good is your existing relationship? If you've got arrears or missed payments etc then they would often decline an application at that point and not need to involve (at a price) a credit search. In your case I think they've said "got enough current accounts, so no more". That's a gut feel, not an absolute certainty.

Second part was an external credit check. The bank pays the credit reference agency for this. While there may not have been anything specifically derogatory, multiple recent searches, even if they were with Halifax, will also be taken in to account before making a decision to offer/decline an application.

There are several million permutations of scoring, and every applicant will achieve an offer/decline decision based on a different set of information to others.

Their systems may have evolved since this, although I would expect the basics to remain more or less the same.

PaulW922

I agree - ask them to re-consider. if they still say 'no' then take your business elsewhere - being wary of too many credit searches of course

UncleSimit

I'm in a similar position also and intent to appeal the decision. Having read another thread on this, someone suggested writing to the Underwriter for Halifax in Leeds. But from what Halifax say on their site, you should contact you local branch regardging an appeal.

Kavanne

MasterSimit wrote: »

I'm in a similar position also and intent to appeal the decision. Having read another thread on this, someone suggested writing to the Underwriter for Halifax in Leeds. But from what Halifax say on their site, you should contact you local branch regardging an appeal.

When we appealed my bf's halifax student account decline we had to take a copy of his experian report, along with last 3 months statements from his existing account into the branch. Also wrote a letter saying why were were appealing the decision. Took it into the branch who sent it off to underwriters... then got a letter saying that it had been too long and the application had lapsed... ridiculous!!

Just waited 6 months and reapplied. Accepted.

dashhowe

I read up on Halifax's security section and i have to write a letter to my local branch appealing against their decision, i've just done that this morning, with my credit report, pay slips, previous bank statements and mortgage statements, if its still a no then i will take my buisness elsewhere- Alliance and Leicester offer £100 to move to their current account!!! Didn't really expect this much hassle to open a current account with the Halifax, as i have never had a problem opening a bank account but best of all i opened two savings accounts for my young daughter with the Halifax only 2 weeks ago- a regular savers account and a save4it account- so the money i pay in for my daughter is ok!!