Lloyds and Experian

Mightyowl

Internal scores that Barclays generate seem rather random.
I applied for a loan with Barclays, but got declinced after the internal search didn't show an acceptable score.
Today i got accept for a Barclaycard with only the internal info checked!

Seems rather strange that they accept me for the credit card but don't trust me with loan.

mrmajika

chris_mc_1266 wrote: »

see to be honest lloyds only update external credit files if you !!!! them about

Nonsense. They report all Loans, Overdrafts and Credit card activity - good or bad - to both Experian and Equifax.

danielanthony

Applied yesterday for a CC with Lloyds, today Experian is showing a search from Lloyds so hopefully that will update my Lloyds internal score as my credit file is much better now than when I opened the account 6+ years ago.

Knowing my luck I'll be rejected for some obscure reason!

Will let you know how it goes.

greenmantle

Oh and lloyds tsb dont update green ticks on credit reports for od only loans and cards

Hmmm... my tiny (temporary) overdraft on a LTSB current account earlier this year was fully reported for the months that it lasted, even when I wasn't using it (which was most of the time).

nomoneytoday

The £2500 income will count towards your score, but not very well if you are paying out £2501...

gazelle8760

Lloyds do report all borrowing to the CRA's, and report their findings factually. If you have had your account six years, and have not been offered additional products, then perhaps you don't fit their criteria at the present moment. Lloyds operate an internal scoring system, and your score changes month-to-month, eligable account holders have offers on their accounts, which you can either ask about, or are offered to you, they opened a Credit Card as part of my bank application, and I did not know I had this, or an Overdraft until I happened to view it on their screens, whilst in the bank. As full current accounts are forms of borrowing, as Lloyds were quick to point out, then they will certainly report your conduct. On the plus side, if your application for a card is accepted, their speed of service for the card dispatch is second to none, so I wish you luck with your quest to obtain what you are wanting.

danielanthony

nomoneytoday wrote: »

The £2500 income will count towards your score, but not very well if you are paying out £2501...

I dont have an overdraft facility so cant spend £2501.

danielanthony

gazelle8760 wrote: »

Lloyds do report all borrowing to the CRA's, and report their findings factually. If you have had your account six years, and have not been offered additional products, then perhaps you don't fit their criteria at the present moment. Lloyds operate an internal scoring system, and your score changes month-to-month, eligable account holders have offers on their accounts, which you can either ask about, or are offered to you, they opened a Credit Card as part of my bank application, and I did not know I had this, or an Overdraft until I happened to view it on their screens, whilst in the bank. As full current accounts are forms of borrowing, as Lloyds were quick to point out, then they will certainly report your conduct. On the plus side, if your application for a card is accepted, their speed of service for the card dispatch is second to none, so I wish you luck with your quest to obtain what you are wanting.

I applied for a card with Lloyds last week and they have since done an Experian search on me. When I enquired a couple months before whilst on the phone with them about another issue they did no Experian search.

So Chris is right, the fact I applied with a 'full' application has kicked off an external credit search rather than using my internal score alone. Hopefully this will come back as accepted, should hear back soon.

I also applied for a Sainsburys CC on the same day, that got approved with a £6k limit so I know my file does look ok.

gazelle8760

danielanthony wrote: »

I applied for a card with Lloyds last week and they have since done an Experian search on me. When I enquired a couple months before whilst on the phone with them about another issue they did no Experian search.

So Chris is right, the fact I applied with a 'full' application has kicked off an external credit search rather than using my internal score alone. Hopefully this will come back as accepted, should hear back soon.

I also applied for a Sainsburys CC on the same day, that got approved with a £6k limit so I know my file does look ok.

Hi

Your internal score plays a part in it, but if the external score was bad, you wouldn't get the source of credit.
I also bank with Nationwide, and they use both internal and external scoring, when you apply to them for their Flex Account, they search you three times, only one search shows though, the first search is voters register, to check that you are who you say you are, the second search is towards the end of the application, it is their "in house" credit search, even if you pass this one, the application can still decline at the last search, the last one being experian.
If you apply to Lloyds for other products, they will not usually go on internal scoring alone, as people can have a change in circumstances, and whilst an individual may have a 100% rating with the bank, they may have gained a CCJ in the last month, so they have to cover their own backs so to speak, also when you go onto internet banking with Lloyds, you can apply for their products on-line, a personal loan quote for example will generate an APR based on your overall scores, both internal and external, and even then it's not guaranteed to accept at the rate quoted, as until you hit that apply button, it won't generate the actual credit search.
I hope your successful in obtaining your new lines of credit, and please post back, that way people who wish to apply for Lloyds products will know exactly where they stand, and how to go about doing this.

danielanthony

Bit of an update.

Lloyds searched both Call Credit and Experian, dont know why they searched Call Credit as they are pretty rubbish so I didnt bother to check my CC file until a day or so ago, I was a bit surprised to see the search there.

Anyhow, I got rejected by Lloyds! Apparently they are sending me a letter to explain why. Maybe it was the Sainsburys search which got in the way? Well I'm awaiting this letter with interest! As I've said before, I've got no defaults/late payments on Experian or Equifax. I do have a default on CC but there is a notice of correction on it as it should have been removed on 28/05/09 as the default date should have been 28/05/03. Thinking about it, it is probably this default but considering there is a note on it about being removed and has an incorrect default date of 28/12/03 I thought this would have been ok.