Can't apply for Halifax Student current account

johnfowles

Hi,
I've recently tried to apply for a new student current account at the halifax.

Here is my position:

> I already have a current account with Lloyds TSB
> I have a perfect credit score
> I have a credit card (nothing owing)
> I've had store cards in the past
> I've had 4-5 credit agreements in the past (all paid way before date required, hence perfect credit score).

So I'm a but stumped as to why they wouldn't offer me an account. They don't give me any reasons why.

Any help?

Many thanks,
John Fowles

book12

Why don't you upgrade your LTSB current account to a student account instead? Their student account is not that bad to be honest. I assume you have been with them for a few years.

I know how you feel about being rejected for a student account. Other people on this board have the same problem too. It's like what's the point of a student account, where a person (soon to be a student) gets declined. Might as well scrap this type of bank account.

johnfowles

What annoys me is that they wont explain why they have declined the application. I have been informed by a friend (who works for HBOS) that I should do an application in branch and I would be accepted.

book12

johnfowles wrote: »

What annoys me is that they wont explain why they have declined the application. I have been informed by a friend (who works for HBOS) that I should do an application in branch and I would be accepted.

Yeah, you should have done it in branch in the first place.... No matter what kind of banking product you open (excluding e-savings), you should do it in branch. Applying online causes problems, delays, etc....

Perhaps, you could ask your friend to do the student account opening for you.

catwoman84

the branch won't have any different systems though, it might not be anything to do with your credit score, all banks have their own individual scoring systems as well when looking at new customers so it could be that. i work in a bank branch and we really cant do any more than the people on the end of the phone or apps over the net!it is all processed the same way.if you do it in a branch then they will run another credit check on you and this will leave a footprint, especially if its declined again and this will impat your experian etc report. i agree though, always visit a branch anyway because we can advise you

johnfowles

Is it worth contacting Halifax to find out why they have damaged my credit report?

I've been a bloody good financial case as a student for the past 3 years. I'm not in £1 of debt (not even a student loan!), I've never missed a payment of anything nothing at all.

Kavanne

My bf applied in branch for a student account last year and it referred. A week later we got the decline letter.

I reapplied online for him about 6 mnths later and it was accepted with £1000 OD (but I opened it for him without an OD and then he phoned up for the OD once the account was opened).

They did offer him a credit card when he applied the 1st time in the branch so he had been running that for 6 months without problems in between which may have helped?


The 1st time they said he was declined due to credit score.

book12

catwoman84 wrote: »

the branch won't have any different systems though, it might not be anything to do with your credit score, all banks have their own individual scoring systems as well when looking at new customers so it could be that. i work in a bank branch and we really cant do any more than the people on the end of the phone or apps over the net!it is all processed the same way.if you do it in a branch then they will run another credit check on you and this will leave a footprint, especially if its declined again and this will impat your experian etc report. i agree though, always visit a branch anyway because we can advise you

Customers need to start somewhere when they want to have a banking product with a new bank though....

Off topic not relating to OP's query

But what is the point of the credit score provided by CRAs like Equifax and Experian, when the banks use their own individual scoring systems only?

456789

I got given a Halifax student account - the only account I previously had was a savings account with them. They offered me a credit card that day too but then I got a letter saying they couldn't give me one.

opinions4u

If you have no existing relationship with them (e.g. savings) and want to open a student account outside the Freshers season (Sept/Oct) then it is more than likely that the credit scoring system is programmed to think "why would somebody who has been studying for 6 months or longer want to open a student account now?".

Most common reason (not saying this is the case for you) would be that the applicant is close to maxing out their interest free overdraft elsewhere. Not the best risk profile.

PARIS_5000

A student account can be opened anytime as long as you have proof that you are currently a student.

It easier to get a student account with a bank that you have a existing relationship with so talk to your current bank.

If you have no luck with Lloyds then HSBC or CO-OP because they are good.

Good luck