Bank of Scotland Taking my credit card away. Advice needed.

never-in-doubt

rafter wrote: »

suggest you try the amazon mastercard - just got one with a juicy limit and you get discounts off at amazon too!

R.

Is it MBNA?

never-in-doubt

speedbird1973 wrote: »

Now if experian choose to sell you a score based on their proprietary model then good luck to them! If you have defaults and CCJs you get a lower score than if you keep up to date with everything. It IS representative. It's no more a number generator than any of the other banks scoring models.

Did you forget to mention that 999 also reflects a score which has no data? You do the know the CRA's score is based on 2 sets of principles, positive and negative don't you? My score is high but I have over 150 searches..... Oh, i'm high in negative (i.e. my 995 negative is 6 away from 001 positive)....

But I reckon you already knew that, right

A lender does not use generic scoring patterns, but specific to their own minimum and acceptable scoring criteria, unlike the CRA's as explained above.

nc1873

Anyhow the thread has strayed off topic a bit:D

I have no debt and i live with my parents.

I earn a decent amount a year to have £10000 credit IF i ever needed it.

Right now i don't but for them to take my card off me without any reason when considering i have banked with them for over 10 years and owned this credit card for 7.

speedbird1973

never-in-doubt wrote: »

Did you forget to mention that 999 also reflects a score which has no data? You do the know the CRA's score is based on 2 sets of principles, positive and negative don't you? My score is high but I have over 150 searches..... Oh, i'm high in negative (i.e. my 995 negative is 6 away from 001 positive)....

But I reckon you already knew that, right

A lender does not use generic scoring patterns, but specific to their own minimum and acceptable scoring criteria, unlike the CRA's as explained above.

The ones I've worked with all started at 0! with the odd person having 0s as their score! one lender went up to 1000, one up to 1200 the other was 100 in effect a %age. I have no idea how the scores are derived, all I knew was the postcode and the score.

I'm not trying to outscore you N-I-D (excuse the pun!!) my experience with credit scores is very specific and admitidelly limited, and completely within the B2B environment.

I understand that the models are specfic not generic (i have explained that point several times already!) however as with most things similar products have similar criteria !

loopy.magic

Has anyone heard of a credit scoring simulator? I've tried googling this and there are some interesting results. Sadly not enough information to use or feed into a home made simulator though.

CLAPTON

nc1873 wrote: »

Anyhow the thread has strayed off topic a bit:D

I have no debt and i live with my parents.

I earn a decent amount a year to have £10000 credit IF i ever needed it.

Right now i don't but for them to take my card off me without any reason when considering i have banked with them for over 10 years and owned this credit card for 7.

I would suggest you check all three credit agencies just in case some rogue info is on one of the other.

I would also suggest you start using your CC regularly for things you anyway buy (i.e. petrol or whatever0 and pay in full eaach month so your credit files shows that you actually use your credit and use it properly.

loopy.magic

nc1873 wrote: »

Anyhow the thread has strayed off topic a bit:D

I have no debt and i live with my parents.

I earn a decent amount a year to have £10000 credit IF i ever needed it.

Right now i don't but for them to take my card off me without any reason when considering i have banked with them for over 10 years and owned this credit card for 7.

You're assuming that there is such a thing as bank loyalty to a customer, that is a myth. They're there to make money from you, fullstop. I've banked with Abbey for over 15 years and they're treated me terribly over the last 2-3 years. Despite the fact they make piles of money from me and I never deviate outside their lending and credit rules.

Forget about BOS and take your business elsewhere. :j

nc1873

Thanks people.

Equifax, Experian and who's the 3rd?

So is this maybe just a case of BOS tightening the purse strings and because i don't use it much i'm seen as not "needing" a credit card.

It might have nothing to do with my credit report/score?

Im really tempted to just close all my accounts and go elsewhere but i jst don't want the hassle of changing direct debits etc etc.

binaryuniverse

nc1873 wrote: »

Thanks people.

Equifax, Experian and who's the 3rd?

Callcredit.

Im really tempted to just close all my accounts and go elsewhere but i jst don't want the hassle of changing direct debits etc etc.

Most banks have a switching service so you don't have to worry about these things. If you run your account well and don't go into your overdraft then look for a bank that offers a good offer on interest for a positive balance. Or something like Halifax's Reward account that pays an extra £5 a month on every £1000 you put in. (Just don't go into the overdraft though, it costs £1 per day!)

lauriepops

did you really just tell someone who is unhappy with bank of scotland to switch to halifax, which is the same bank?