Lloyds TSB Credit Checks

firsttimestudent

gazelle8760 wrote: »

Well, when I am one minute a Risk Band 4, then next time I ask I am a Risk Band 8, I would consider myself a greater risk, but obviously they don't see it that way, that is only my observation of it all, if I am honest, I don't know how they think or operate, and I even remember The Advizor telling me the same thing last week, and if he does not know, who does?

We're taken over by the computers! We invented them, but now they are making decisions for us at LTSB - in fact computers are treated like gods, such that no staff can question them! Help!

(Reminds me of their saga a while ago when they offered their 2% extra interest on their Classic Plus - remember how many of us received wrong interest that had to be readjusted in the end? How great are their computers!)

gazelle8760

firsttimestudent wrote: »

We're taken over by the computers! We invented them, but now they are making decisions for us at LTSB - in fact computers are treated like gods, such that no staff can question them! Help!

(Reminds me of their saga a while ago when they offered their 2% extra interest on their Classic Plus - remember how many of us received wrong interest that had to be readjusted in the end? How great are their computers!)

So, basically The Computer either likes you, or it doesn't?

Cash_Flow

gazelle8760 wrote: »

Well, when I am one minute a Risk Band 4, then next time I ask I am a Risk Band 8, I would consider myself a greater risk, but obviously they don't see it that way, that is only my observation of it all, if I am honest, I don't know how they think or operate, and I even remember The Advizor telling me the same thing last week, and if he does not know, who does?

Many factors could be affecting your risk band score i.e monthly O/D usage, debt levels both inside and ouside of the lloyds banking group and also the data feed which lloyds obtain on a monthly basis from experian.

gazelle8760

Cash_Flow wrote: »

Many factors could be affecting your risk band score i.e monthly O/D usage, debt levels both inside and ouside of the lloyds banking group and also the data feed which lloyds obtain on a monthly basis from experian.

Surely if they were that concerned, they would not have ordered me a new card then? Just seems horrific when you see yourself as an 8 of 10. They are pretty fast on the up take though when it comes to taking fees off you, I only upgraded last week to Premier and they took £25 from me today, when it should have been just £17 for the first two months, I soon put them straight on that one.

fischer79

The risk band is made up of 2 factors your behaviour and the external economic environment. So your behaviour (both internal LTSB and external with credit agencies) can score differently depending on the level of risk Lloyds is willing to take.

If your behaviour score was 42 (for example) 2 years ago you might have got risk band 2 but fast forward to now and the exact same score may only be risk band 5. Thats why you see changes when as far as you are occured nothing has changed in your circumstances.

savagej

I read years ago when they merged the computer systems of Lloyds and TSB that there is also a "value to the shareholder indicator", probably the same thing as the risk band.

just_about

gazelle8760 wrote: »

Surely if they were that concerned, they would not have ordered me a new card then? Just seems horrific when you see yourself as an 8 of 10. They are pretty fast on the up take though when it comes to taking fees off you, I only upgraded last week to Premier and they took £25 from me today, when it should have been just £17 for the first two months, I soon put them straight on that one.

Have a premier account with a 7.5K O/D and a credit card with them , and must say have been nothing but an absolute pleasure to deal with them ... In my opinion at the end of the day all the banks are out there to make money of you but any mistake on their part always have been resolved at the instance of just one phone call ... They even helped helped me in every way even during my worst finalcial crisis .. IMO best bank out there in the high street ..touchwood and long live Lloyds Tsb :T:T:T:T:T

just_about

simax wrote: »

Dunno mate. Makes you wonder why they have an internal score at all really?!?!?!?

It all depends on a whole lot of factors other than just the internal behavior, Lloyds do get a feed back from the external CRA's too .. e.g. some one might have maintained the account really well them , while all the other banks in the high street might be chasing him for money .. so am sure it is not always how you run your account with them !!

simax

Just an update. I went to a different branch today (the main one in the city) and asked about my upgrade options.

Was told Silver was the only one available as I didn't meet the "criteria" for Gold. Pointed out my account conduct which they agreed was excellent, and I told them I didn't want any lending so could they appeal on those grounds (ie: the interest free O/D).

The lady agreed it was a good idea, went away to phone the appeals department, came back declined.

The branch manager then got involved. Called them again. Declined again.

I'm still a "99" Credit Policy Decline, and apparently "It looks like that's not going to change in the forseeable future".

I was then invited to apply for thier Privacy Guard package. I declined that, stating that if my money isn't good enough for their Gold account, it certainly isn't good enough for any other product they offer.

If they want to continue paying me interest instead of me paying them, then they can go ahead, and I'll take seperate products out with other companies.

iereboy

Its out of 9 they mark you not 10.