Lloyds TSB Credit Policy Decline ?

Dannydebt

I was in seeing a LTSB adviser last week and he was trying to sell me home insurance !, anyway on my account screen I seen Credit Policy Decline, so I asked him about it and he said..............

You will have Credit Policy Decline on your account for 1 year from when you opened it, after that the system will offer you credit cards etc based on your INTERNAL score only and will IGNORE your EXTERNAL score ?.

True or False ?

Thanks.

jonesMUFCforever

Totally false.
When you open an account you will be credit scored and the first 'score between 1-9' will be established.
Credit policy decline will fall into 3 categories - 1 You have a cash account therefore you will not be eligible for credit 2 Your running of the account is poor (regular excesses or returned items) or 3 external factors such as defaults or ccj's on your credit files.

Every time you apply for a loan or credit card you will be credit scored, small overdrafts might be ok under the internal scores but if referred to the lending department then again they might score you.

Gers

jonesMUFCforever wrote: »

Totally false.
When you open an account you will be credit scored and the first 'score between 1-9' will be established.

Thanks for that info - a Lloyds staff member (manager) told me I was a 9 on their score but never explained what it was... still didn't take/need/want the loan they offered me! Now I have to repeatedly tell them that I don't want to upgrade to a Platinum account and pay then £25.00 per month for unwanted stuff.

Been with Lloyds a long time and had, mostly, great service and no hassles from the. We've had a couple of disagreements but the last one ended with me receiving a large bouquet of flowers with a little card saying 'LloydsTSB wants to apologise' - worked for me as the matter was fairly trivial but hugely annoying.

simax

Credit Policy Decline is 99 on their internal scoring. I have that on mine, apparently. :mad:

Dannydebt

Thats what I have Credit policy Decline 99, yet I have a Premier Account and a £250 cheque card, so I don't understand it ?.

starM

My partner was recently declined for a LTSB Credit Card and she had Credit Policy Decline Mark on her account. Her internal score was 3 which should be very good. She do not have a any defualts, arrears, CCJs etc and has recently been accepted for an Asda Credit Card.

Is there anyway to remove this mark

Dannydebt

starM wrote: »

My partner was recently declined for a LTSB Credit Card and she had Credit Policy Decline Mark on her account. Her internal score was 3 which should be very good. She do not have a any defualts, arrears, CCJs etc and has recently been accepted for an Asda Credit Card.

Is there anyway to remove this mark

Well he seemed convinced that after a year all external data would be ignored and only based on your internal score, and when I asked about a Credit Card he said that if I maintain my account well (Which I have so far), then that offer would appear on Internet banking, now I am not so sure, and to be honest feel a bit miffed !.

[Deleted User]

Gers wrote: »

I was a 9 on their score but never explained what it was... still didn't take/need/want the loan they offered me!

How did they offer you a loan on a score 9!?

simax

I'm a CPD score 99 and my internet banking offers me a loan of up to 25K - at a rate of 24.9% APR!!

Only been with them 5 months though. So that will change. (Credit can't be that bad, as Abbey have just accepted me for a full account).

Missus who's been with them ages put a quote in the internet banking and it quoted her 14.9%, and then her mum tried hers and got a quote of 7.1%!!

Mind you, she's been with them since the dawn of time (and has a credit card with them that has nearly a 20k limit!!)..... :D

starM

Is there anyway to remove credit policy decline mark?

jonesMUFCforever

starM wrote: »

Is there anyway to remove credit policy decline mark?

Not with Lloyds no - it is an internal score - you are free to apply elsewhere!