Does having a 'current account' with the credit card company help

Danny_G

Do applying for credit cards with companies you have current accounts with help? (if you have the current account in good order)

eg, applying for barc credit card , while having a barnk current account for over 5 years.

Do they look at this current account infomation, or anything regarding it?

can having a current account help the application, in even a tiny amount?

thanks in advance, your answers are appreciated.

savagej

I think it depends on the bank and how well the departmnents are integrated with the bank. For example Barclaycard is a separate company and as such I dont think they have as much access to your positve current account data (unless from a CRA), as do say LloydsTSB where the company that issue the credit card are the same one who you hold a current account with and the staff in branch can see both. However, I might be wrong.

lisyloo

Yes I think it does help.
Lenders know a lot more about you, so they are more likely to give you credit.

people who have tarnished credit histories (or none) are often avised to apply for a credit card with their own bank
Sometimes the banks don't even look at externel credit reports if they have enough info internally.

If you ahve no bad history why don't you just apply for the card you want???

paulmcerlean

most banks get feeds from external on a monthly basis anyway (cias) so know your repayment history and commitments anyhow.

davethorp

Some banks will pre approve for CC based on data from your other accounts. This does vary from bank to bank though

The only downside from having a CC with your current account would be if you got into arrears (which you wont be doing I'm sure) and the bank could lift money from any other account you hold with them to pay the arrears

CannyJock

Danny_G wrote: »

Do applying for credit cards with companies you have current accounts with help?

In general, yes. Some cards are only available if you have an account with them - HSBC and RBS spring to mind.

xgingerx

CannyJock wrote: »

In general, yes. Some cards are only available if you have an account with them - HSBC and RBS spring to mind.

Hi, i had a HSBC credit card and never had a bank account with them.

fyi

CannyJock

xgingerx wrote: »

Hi, i had a HSBC credit card and never had a bank account with them.

fyi

So did I a while back. But times have changed.

http://www.hsbc.co.uk/1/2/personal/credit-cards;jsessionid=0000zOZhokfecWwFLYkkpoYeOSj:14et5m1u3

In particular:

In order to apply for an HSBC Bank Credit Card you need to:

• Have an HSBC current account.
• Pay more than £500 monthly into your current account and have a salary of £8,500 or more. If you're a student account holder you don't need to pay a minimum amount or salary into your account.

Which is why I opened an HSBC Green current account 6 months ago so I'd qualify for another card for a stooze some time in the future


Similiarly, Natwest and RBS Platinum 0% cards, you need to have another product with them.

Bosie

Many year's ago I had a Barclay's bank account and one day I went in to talk to the Personal banker, not sure what about (too long ago)
Then she said to me, you can have a Barclaycard if you want as it has been pre-approved on your account.

JA1000

Sit with personal banker at Barclays if you have a Barclaycard and any outstanding amount flashes all over their screen. I would say it is very closely tied.

jd87

Don't forget that if you get into trouble paying off the credit card, and your current account is with the same bank, they will be able to take money directly from your current account to pay the card and they won't have to give you any warning. Just something to bear in mind.