Internal scoring - is it a myth?

LewieV

I'm quite surprised to have been turned down for a credit card - whether I should be surprised or not I'm not sure. Is internal scoring a myth? Say, if I went to the RBS, who I have a good account with, are they going to look at my account and consider me; or score me elsewhere like everyone else?

Cheers

alo6

I went into my BOS branch to ask about my loan, and see if they would allow me to borrow more and also lower the term.

The first thing he done was check my internal scoring and said he would look at bank charges etc.

bengal-stripe

Like everything in life - it depends!

If you are asking for a credit card, which is likely to involve a limit of several hundred, if not thousand pounds, they are likely to check external agencies, to see what you have been up to elsewhere. If you ask for an overdraft of 100 quid, they probably will decide on that entirely based on your internal score.

But there are no hard and fast rules.

davethorp

As mentioned in a couple of other threads, one user got HSBC to overturn a decline for a credit card based on his credit file and got them to issue a £3k one based on his internal score

I only wish I hadn't left HSBC ten years ago or that they'd have given me another account any of the numerous times I've applied since

never-in-doubt

davethorp wrote: »

As mentioned in a couple of other threads, one user got HSBC to overturn a decline for a credit card based on his credit file and got them to issue a £3k one based on his internal score

I only wish I hadn't left HSBC ten years ago or that they'd have given me another account any of the numerous times I've applied since

That was me, HSBC consulted an external agency (Equifax & Experian) but due to incorrect linked address Equifax had me listed at, HSBC said no.

I appealed saying use my behaviour score instead of Equifax as their info was wrong, and always is wrong as proven with the ICO and the complaints they get each year.

As HSBC could tally the agreements I have showing on my CRA with my direct debits etc - they simply said yes and overturned the original decline.

In my appeal I requested £3k limit, as that was what I wanted to BT (just paid a holiday on another card and BT'd for the 15 months 0%). They didn;t even discuss limit, just got the agreement after a week of sending letter in and got card 3 days after sending agreement back. Still no PIN but doesn;t matter as BT'd £3k lol

Hope that helps..... HSBC is great bank - remember the branch can override declines so always worth going to branch! When you deal with online applications then they search per product, if you go in branch and ask for an account review they do one search and then tell you everything you can get! I can have a loan of £14k, £2k overdrafts and a mortgage if I wanted. Loan and o/d is guaranteed - i.e. no further checks.

BenL

You have more chance with your current bank if you have been a good customer. I used to work for a bank and could see on the customer db pre-approved limits for o/d, credit cards, loans.

Overdraft request for instance could be approved without going to underwriters if the monthly score from the system said the customer could have the limit.

We could also see if the customer should be offered a full debit card instead of an electron card if this is all they had.

kilasuit

Nid i have always wondered what you actually do seeing as from where i stand you seem to have alot of Guaranteed limits which from my point of view are rather high.

granted i may just be young but it seems that thers alot more on the table than i originally thought

Innocent_Guy

Barclays haven't generated any limits for me yet........ I have and O?D but thats about it. I think it is because I have used my O/D most months and they work on affordibilty......

never-in-doubt

kilasuit wrote: »

Nid i have always wondered what you actually do seeing as from where i stand you seem to have alot of Guaranteed limits which from my point of view are rather high.

granted i may just be young but it seems that thers alot more on the table than i originally thought

Kilasuit, my limits are not high, far from it! Obviously the CRA's show my mortgage and I only have 60% LTV so they can see I have/had savings and paid a chunk off house plus my salary. Obviously there are people on here with loads of high limits, all I have is a CC with £3k, and a £200 overdraft. I guess if I took the loan and extra o/d then it would still be less than a third of my annual salary so that is why they gave me those limits - I don;t know how these limits/guarantees are calculated.

Some people on here mention halifax o/d - one month £200 the next £12,000! It seems random and changes with your behaviour score. I also keep about £5k in my HSBC whenever possible spread over 4 accounts (2 bank 2 saving)

My job is close protection.

Trust me mate, the guaranteed limits I have are small fry - bear in mind I also have no debt and maximum available credit of £4k with other lenders so not a high risk really. I dunno mate

Kavanne

i got a halifax cc without them even doing a credit search, so there must be internal scoring!!

neil9313

never-in-doubt wrote: »

Kilasuit, my limits are not high, far from it! Obviously the CRA's show my mortgage and I only have 60% LTV so they can see I have/had savings and paid a chunk off house plus my salary. Obviously there are people on here with loads of high limits, all I have is a CC with £3k, and a £200 overdraft. I guess if I took the loan and extra o/d then it would still be less than a third of my annual salary so that is why they gave me those limits - I don;t know how these limits/guarantees are calculated.

Some people on here mention halifax o/d - one month £200 the next £12,000! It seems random and changes with your behaviour score. I also keep about £5k in my HSBC whenever possible spread over 4 accounts (2 bank 2 saving)

My job is close protection.

Trust me mate, the guaranteed limits I have are small fry - bear in mind I also have no debt and maximum available credit of £4k with other lenders so not a high risk really. I dunno mate

Close protection..............Now I am impressed.;) I take it you are not guarding your Electron card? :rolleyes: