Refused account by Co-Op Bank

SpongeBobSP

I recently applied for a current account with Co-op and was refused. I just can't understand why I was refused though:
- I am employed
- I have lived at the same address since 1985
- I have a mortgage, but that is almost paid off
- I have taken out substantial loans in the recent past
- I don't have any debts or any loans at the moment.
- I have accounts with Barclays and Royal Bank of Scotland, and was intending to close both of those accounts.

Any ideas? ???

RobBob_3

Same thing happened with me with a A&L Premier Plus A/C application.

They didn't check any credit agencies (I got reports afterwards from all three).

Suppose, their little computer just said we aren't profitable!

Try another bank, as I currently am...I like Natwest but they aren't competitive enough.

For me:

(a) Have good salary
(b) Moved house twice in a year (rental)
(c) Wanted overdraft (0%!)

Otherwise as didn't check me at all they wouldn't know about past history etc. Never had any accounts with them or anything.

SpongeBobSP

They didn't check any credit agencies (I got reports afterwards from all three).

Hi Rob,

Which 3 credit agencies did you check? and how?

Thanks

RobBob_3

Experian http://www.experian.co.uk/

Held information from Capital One and Barclaycard

Equifax http://www.equifax.co.uk/

Held (apparently) no information!

http://www.callcredit.co.uk/corporate_scripts/index.asp

Held information from Barclaycard and Vodafone


Just a letter and cheque for £2 to each (see their websites).

CapitalOne had reported that I had missed payments twice or three times and it took me a couple of months to get these taken off (and the account closed) so it worth checking these agencies for £6 I think.

realaledrinker

Suggest a phone call to the Co-op might provide a clue??

They have always been up front in their dealings with me.

I do know their lending criteria tend to be a bit tighter than most though.

deemy2004

I recently applied for a current account with Co-op and was refused. I just can't understand why I was refused though:
- I am employed
- I have lived at the same address since 1985
- I have a mortgage, but that is almost paid off
- I have taken out substantial loans in the recent past
- I don't have any debts or any loans at the moment.
- I have accounts with Barclays and Royal Bank of Scotland, and was intending to close both of those accounts.

Any ideas?  ???

Maybe because co-op is a crap bank ?

They may have input the wrong details i.e. name spellings etc... like I said they are rubbish... Our company account is with the co-op and they make some really thick mistakes like paying employee payroll cheques into the company account rather than into the employee's personal account.