Interesting Conversation with NatWest - Comments Please

gettingthere28

I was in at my local branch yesterday to pay in a cheque and I wanted to see about changing my Solo Card to a Service Card, I got seen by an advisor who checked my details and said that as I only had a the Advantage Gold account 3 months I would not be able to upgrade yet (Bad credit from years ago you see), she did say to wait another 3 months so the account would have been opened 6 months, then they would have 6 months history to base the decision on, but she said 'If you have run your account well then the system will automatically pre-approve you for the card and possibly an overdraft ( I already have a small overdraft - Never used), and would NOT base it on your external data but only the internal data with Natwest.

She also said to keep the Solo card at the moment as there are a lot of problems with the new Visa Debit cards with both charges online and using them online.

So she is saying (I Think) that if I can prove myself to them after 6 months, the regardless of what my credit file has then I will start to get things with them ??.

She also said that the card would automatically be sent to me if I did qualify for it and I would not need to come back in to see if was pre-approved after 6 months.

Any comments would be very grateful as I do not want to get my hopes up on this one.

Paul_Herring

Lloyds do something similar - they have an internal scoring for their customers, based on account usage.

If you have your pay paid into the account, and don't go (unauthorised) overdrawn (i.e. use, but don't abuse, the account,) you can probably get a reasonable score with them.

I wouldn't count on getting anything automatically however - wait another 3 months (plus a week or so) and go back in and ask again.

Note however, they may still refer to your credit record, so may still decline you, but your recent history with them may override anything that's a few years old on your credit record.

stclair

http://www.youtube.com/watch?v=Hmr6Ius17ag

Finance

Yes- most high street banks use their own credit scoring systems. It's not 'really' based on your personal credit scoring. For example, i just turned 18, and was new to credit, i had problems applying for overdrafts, credit cards etc. Natwest, who i was with, for many years, since school, offered me a credit card, plus a student account with an overdraft. Something, other banks couldn't offer. If you have really bad credit, it's best to start off with a basic account, regulary put money in, and i'm sure in a few months, the bank will offer you advance facilities- overdrafts, upgrade, even a loan...

Thanks.

stclair

Finance wrote: »

Yes- most high street banks use their own credit scoring systems. It's not 'really' based on your personal credit scoring. For example, i just turned 18, and was new to credit, i had problems applying for overdrafts, credit cards etc. Natwest, who i was with, for many years, since school, offered me a credit card, plus a student account with an overdraft. Something, other banks couldn't offer. If you have really bad credit, it's best to start off with a basic account, regulary put money in, and i'm sure in a few months, the bank will offer you advance facilities- overdrafts, upgrade, even a loan...

Thanks.

Yeah right as if the bank are gonna give someone a credit card or a loan with adverse data on there credit file

never-in-doubt

stclair wrote: »

Yeah right as if the bank are gonna give someone a credit card or a loan with adverse data on there credit file

Maybe time to point out that all internal scores are usually linked with an external credit search (in conjunction with) - however the internal behaviour can (on occasion) outweigh any negative data received such as the odd late payment - not defaults and the like :rotfl:

stclair

never-in-doubt wrote: »

Maybe time to point out that all internal scores are usually linked with an external credit search (in conjunction with) - however the internal behaviour can (on occasion) outweigh any negative data received such as the odd late payment - not defaults and the like :rotfl:

You took the words right out my mouth.