Risk?

AnnaCutie

I am just back from my bank. I just saw on one of the papers that were in front of the bank worker that it said that I was a risk 3. What does that mean? Is that any good? It also had undneath the overdraft limt they could offer me and things like that.
I am new to this forum and it is great!!!!

Xbigman

It depends which bank it is. I bank with Lloyds and was L1. As explained to me L0 would mean I had never done anything and means ungraded. L1 was the best and meant I had had credit or an overdraft with Lloyds and repaid it / used it responsibly. It then got progressively worse down to L9.
I imagine most banks are similar so a 3 presumably means you are ok but have missed an odd payment or slipped over your overdraft at some point (equally it could mean something mundane like you moved recently). Its nothing to worry about. Strangely a 3 is a more valuable customer than a 1 as you are likely to make a minor mistake at some point and incur bank charges, thereby making you more profitable as a customer.
Regards



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