banks secret blacklist

kuohu

CTT wrote:

I remember going to lloyds about 26 years ago and asking for a temp overdraft ...
This post is dedicated to Mr Jackson, manager of the now closed Oxford Road branch, Reading who was transferred to Lloyds in Henley on Thames.

Wow, talk about holding a grudge. Let it go, man, let it go.

CTT_2

kuohu wrote:

Wow, talk about holding a grudge. Let it go, man, let it go.

No grudge just the truth.

twinkle75

I can see the sentiment regarding the poor credit rating system here. I have had a loan with Halifax for ages. I have accounts with them including current, savings and credit card also.

I have never been in arrears of any payments in my life, always been a good payer and been loyal to them.

My loan repayments are 333.00 a month. This week i asked them for 1000 extra on the loan for an emergency.

regardless as to wether they did decline thsi request as I asked for the PPI to be cancelled I was told that the "puter said Noooo" because I could, according to this machine, only afford to pay 250 a month.

Yet I have been paying well over that for years!!! and with PPi on top!

So where has being loyal and a good payer got me

grumbler

Chrysalis wrote:

...Regarding people borrowing from 10 difference companies, please tlel me how the current system protects from that..

All your available and used credit is shown in you credit files along with the history how you have been repaying you debts during last 6 years...

taylornj

Chrysalis wrote:

I asked my bank if I am blacklisted since I had checked my credit record which was clean but I had trouble getting a basic BT phoneline and cannot get any credit whatsoever and since they was the only ones who have ever lent me money I would like to know if this is the case.

they replied I am blacklisted by them (loan in past had beeen in arrears) and other banks and institutes can access the ifnormation but it wasnt available for me to see.

how long has this private blacklisting been going on for because I am not impressed banks can share private info in this manner.

Just an idea - try using Data protection Act

The eight principles state that the data must be:

* fairly and lawfully processed;
* processed for limited purposes;
* adequate, relevant and not excessive;
* accurate and up to date;
* not kept longer than necessary;
* processed in accordance with the individual's rights;
* secure;
* not transferred to countries outside the European Economic area, unless there is adequate protection.

Write a complaint to the bank under the data protection act -
i. data being accurate and up to date.
ii. not kept longer than necessary.

If you addressed your previous credit issues, the bank should take that into account, which comes under fairly and lawfully processed. Circulation of just a blacklist as the bank implied should be classed as unfair.

Finish with if the bank does not disclose when and if I shall be removed from this blacklist ..... You have two places to go Information Comissioner, or FSA.

According to this on Backlists by FSA the bank would be acting contrary to the FSA statement in maintaining an unregulated backlist, and worse in disclosing to other parties a list they shouldn't hold in the first place. Credit reference agencies not the bank hold credit information records.


If a company has put incorrect and damaging information on your credit record, that can be libellous. The Information Commission say

There is a right to compensation under Section 13 of the Data protection Act 1998, if an individual can show he or she has suffered damage as a result of what someone in control of information has done with it.

Chrysalis

grumbler wrote:

All your available and used credit is shown in you credit files along with the history how you have been repaying you debts during last 6 years...

yes but how does the machine know you right on your limits?

a person could be just about making the payments and apply for some more credit but the computer doesnt know that at all but says yes because they have a current credit history and its good.

of course we all know where this leads.

oldwiring

As a sort of aside. One shold not be temoted to make numerous applications, for example to see what comes up best. A bank or other institution might well interpret the entries, as a sign that one is desperate for money.

EasilyAggravated

lets not forget that you can get turned down for having no credit history at all. a friend of mine has gone through life paying for everything with cash. if he wanted something he saved. however there became a point when he needed something so he had to apply for a loan. he got refused. why? because he has never had any sort of loan/ mortgage/ overdraft/ credit card/ HP or any other sort of credit. this stupid credit scoring system victimises him for not wanting to get into debt. his only solution was to get a mobile phone on contract to build up his credit score. but then there was nother problem. because they check your credit file, he couldnt get one of them either. its stupid and there becomes a point when human intervention is needed in the decision making process.

madfrenchgirl

I would totally agree with EasilyAggravated here.

I have been in the UK for more than 5 years now. I have held the same account with the same bank (Lloyds) since Feb2000. I qualify for every possible loan or credit craps that Lloyds has been trying to flog me for the past 2 years. I (along with my partner) had a mortgage agreed (and not just in principle).

I never got myself into debt, I have changed addresses several times due to my studies and my professional life, I pay my taxes, I have a NI number, and I own a car. i might not be a national but I appear on any kind of database you could think of. The only thing I am not on is the electoral register, but that would be pointless as some institutions would not even look at it if you had been on there ofr less than 5 years.

Well, guess what? I cant get any cashback credit cards because of my credit rating! Just because I dont have any debt history! Wht if I dont want to get into debt just to prove that I am reponsible with money. The emre fact that I can look after myself without contracting debts is not enough apparently!

And dont ask me about Alliance & Leicester's stupid system: just because of their crappy computer system that would not accept more than 5 addresses for the past 3 years, we could not get a mortgage with them and had to go for a (slightly) less competitive one instead!

Chrysalis

yeah lloyds tsb are terrible for that now, their online banking for instance allows you to apply for an overdraft increase, it decides based on your credit rating, umm what about account history? no sirreee

same if you ring up, they pop your details into computer do quick credit check and bang the result.

so now it seems having a long history with your bank doesnt reward you with credit facilities, but a good credit rating does instead. So its entirely possible now someone could join lloyds tsb and get a nice overdraft because they have a good credit rating, but someone there say 10 years account in credit etc. gets turned down because they have a bad credit rating.

People saying this is a fairer system I fail to see how it is.

Basically a 3rd party system can now effectively restrict people from services from pretty much any bank because they all check a central credit rating database.