I need a bit of help with Lloyds

gettingthere28

I have a Premier Account with Lloyds and Savings (Around 87k), but I really want one of their Credit Cards (I already have a Cap1), I had a 'Review' today and asked if I could have a card as I had applied and was declined (Less than perfect credit from around 4 years ago although I am very good now), anyway on the screen it had 'Credit Policy Decline', and they told me that I would need to have the account for a year (Had it 8 months) and after a year I would be offered products based on how I had run my account rather than on my external score (Which is not good).

Is that true ?.

He also said that If I was to put 50k in a bond with them he could perhaps force the credit card application through with the lending department ?. Again is that possible ?.

Thanks

pre123

gettingthere28 wrote: »

He also said that If I was to put 50k in a bond with them he could perhaps force the credit card application through with the lending department ?. Again is that possible ?.

Thanks

sounds like the 'personal advisor' (salesperson) would earn good commision on that sale.. they can do this without getting you to open another account.. well thats how it works with barclays as they just call the underwriter to reapply/appeal orginal decline..
if you dont mind me asking why would you need a credit card with that amount of savings??

starM

well my other half has a Classic Plus Account. She opened the account in Feb Last yr so over one year now. She been to LTSB last week and she has the same mark "Credit Policy Decline". She has perfect credit report 2 credit cards, 2 bank accounts, no arrears, defaults etc. I dont understand LTSB.

YorkshireBoy

gettingthere28 wrote: »

He also said that If I was to put 50k in a bond with them he could perhaps force the credit card application through with the lending department ?. Again is that possible ?.

That's a question I would be putting to Lloyds in writing...perhaps as part of your appeal letter?

Bobo77

Which acc has the lower interest rate? CC or savings ? Given your difficulty with gaining a CC i would you are unable to obtain a 0% CC. If this is the case then as your savings carry a lower rate than your (potential) CC APR I suggest you use your savings and forget about credit (assuming savings are not tied in)