Can't get a current account HELP pls!

raw

Hi,
At a young age I incurred a debt which I hoped would go away (of course it didn’t) about 4 yrs ago I started paying it off slowly not realising this had an serious impact on me getting any kind of current account with debit card in the future. Approximately two and a half yrs ago I finally paid it all off. I then applied for a cash current account as that was all I could get which I could understand, but 2 and half yrs later of good credit history I now wish to get a current account with a debit card and recently applied and got rejected!
According to my bank and Experian, the only way to improve my credit is to pay off all my debt and try not to go overdrawn. I have been maintaining that standard, But to no end as its not having an effect.
To my understanding my credit would improve when they see how well i manage my current account......I’m nonexistent with a cash card.
I have been advised by my current bank to try and overrule the outcome of my failed account upgrades.

Could anyone please advise me on the best way for me to speed up the process in anyway, thanks for any help.

TheEffect

Pull up your credit reports from Equifax and Experian. See what has been 'Defaulted' and if you have any 'CCJ'. Defaults are removed from your report 6 years after the account defaulted.

Post on here how many defaults and CCJ's you have, when the accounts defaulted. Also any 'CIFAS' that are on your report.

JustJewels

Hi raw,

There are different types of current accounts - which one did you apply for? Which bank? Did they give you a reason for the rejection?

The reason I'm asking is I'm wondering whether you applied for a 'basic' style account (with no overdraft facility), which should be ok for people with a less than perfect credit history, or if your bank steered you towards one of their packaged accounts.

Just because one bank refused your application for one type of account, doesn't mean another bank will. However, it's also best not to have too many searches on your credit file...

So, the bottom line is, research which banks offer which accounts. Check out Martin's advice on the subject - What if you get rejected for all accounts?

Hope that helps

JJ

slowandsteady_2

I got an account with Nationwide a Flexaccount, it is their version of basic account and only has a cashcard i had no problems and i am a discharged bankrupt. Applying online only takes a few minutes. It has all facilities of current account except debit card but they may upgrade you after a few months being with them.
What happens with your wages? Or if you are on benefits only you can get a Post Office account

slowandsteady_2

Sorry just re read your post, you want an account with debit card now. Perhaps try the Nationwide anyway? You can also apply for debit card with the account just tick that box. Ive found them very accomodating

Rochelle

raw wrote: »

Hi,
At a young age I incurred a debt which I hoped would go away (of course it didn’t) about 4 yrs ago I started paying it off slowly not realising this had an serious impact on me getting any kind of current account with debit card in the future. Approximately two and a half yrs ago I finally paid it all off. I then applied for a cash current account as that was all I could get which I could understand, but 2 and half yrs later of good credit history I now wish to get a current account with a debit card and recently applied and got rejected!
According to my bank and Experian, the only way to improve my credit is to pay off all my debt and try not to go overdrawn. I have been maintaining that standard, But to no end as its not having an effect.
To my understanding my credit would improve when they see how well i manage my current account......I’m nonexistent with a cash card.
I have been advised by my current bank to try and overrule the outcome of my failed account upgrades.

Could anyone please advise me on the best way for me to speed up the process in anyway, thanks for any help.

Hi my credit rating is not good at all and i opened up a Barclays bank account its the equivalent to a basic account but it does have a "Visa debit card" and also Co-op do a basic account with a "visa electron debit card" and maybe if within time you can upgrade your account but at least you can have an account with a debit card, and both accounts have internet banking,although they are not current acounts maybe can help you till you sort out the probs on ur credit file
Hope this helps you.

456789

Try Barclays Cash Card or Co-Op Cashminder account

opinions4u

Try Halifax.

Try NatWest.

Try Co-op.