LTSB Credit Policy Decline.....

simax

Posted on another thread but doubt anyone will see it there...

Had Classic account for 14 months now, and still have the above marker on account (99 CPD).

Would not being on the electoral register be influencing this?

Thanks

paulmcerlean

I dont know for sure, but if they are recieving Experian data monthly, then no doubt they can see this. But then, would they have accepted you in the first place, if it was really a problem?

I have been reading your troubles with LTSB and I dont quite understand what the problem with them is - if you have a classic account, then you have passed their credit check initially obviously - so have they ever told you the time when you became 'bad' in their eyes.

Did they offer you an overdraft even?

simax

paulmcerlean wrote: »

I dont know for sure, but if they are recieving Experian data monthly, then no doubt they can see this. But then, would they have accepted you in the first place, if it was really a problem?

I have been reading your troubles with LTSB and I dont quite understand what the problem with them is - if you have a classic account, then you have passed their credit check initially obviously - so have they ever told you the time when you became 'bad' in their eyes.

Did they offer you an overdraft even?

Didn't offer one, but I didn't ask for one. I've always been a 99 CPD, just never knew why. Never had a bad mark with them at all.

I was just wondering if it was worth the hassle of registering to get that flag removed? If it will have no effect then I won't bother.

sillystudent_2

simax wrote: »

I was just wondering if it was worth the hassle of registering to get that flag removed? If it will have no effect then I won't bother.

I don't know anything about Lloyds' system but tbh it sounds like that might well be the problem - not being on the electoral roll is a massive hinderance to getting any kind of credit - in fact it's almost impossible to get a credit card, personal loan, overdraft etc. without being 'on the roll.'
Even if it doesn't remove this particular Lloyds marker (which it may well do) being on the electoral roll will help you for the future when you need credit - credit card, overdraft etc, whether with Lloyds or another bank. Even if you didn't have this marker I think it'd be highly unlikely you'd get any kind of credit from Lloyd's if you weren't registered on the electoral roll. There's no real downside to registering (you can opt out of any marketing companies getting your details) and a huge amount of upside in terms of your credit report - plus you can vote!

Hope this helps

simax

I've not been on the electoral register for about 10 years now, and it hasn't hindered me getting phone contracts/bank accounts/catalogues etc. However none of the other banks I have an account with will offer me anything either (mainly as I don't use them as a main account possibly LOL).

Have not applied for a credit card for ages as I don't need one, but it started me thinking the other day as I asked LTSB for a second account and they said no. There were things showing as internally offered (Chequebook/card, OD etc), but all had 99 CPD next to each one. (LTSB is my main account, BTW)

Being registered to vote is no biggie to me, as they're all the same. Corrupt! :rotfl:

However, the more I think about it, the more inclined I am to think that this may be the reason why they are being so awkward. They cannot prove I live there as I'm not registered there?!?!?

sillystudent_2

simax wrote: »

:rotfl:However, the more I think about it, the more inclined I am to think that this may be the reason why they are being so awkward. They cannot prove I live there as I'm not registered there?!?!?

Pretty much - in fact whenever I've applied for bank accounts (even if doesn't require a credit check) they've often done an identity check by checking your address against the electoral roll.
From their perspective, they've got no way of checking you live where you say you live - so you could put some random address then do a runner with the credit. Plus its probably some kind of risk-factor thing, as people not on the electoral roll I expect are more likely to default in general (lifestyle etc.)

I'm surprised you've managed to get phone contracts and catalogues without being registered, fair play - however you'll really struggle to get a credit card, overdraft or loan (i.e. credit from banks, who're much stricter than catalogues/phone companies.) And even if you do, it won't be at the best rates or for the best products - if the advertised rate is (say) 14% you might end up with 25%, simply because not being registered means you're a much bigger risk (or at least they think so.)

Unless you've got any particular reason not to, I'd register asap - as another major factor is how long you've lived at an electorally registered address. Lenders obviously like stability - they love it if someone's lived at the same place for 10 years, but are more cautious around the borrower who moves addresses every few months.

simax

I may do...... and vote for some daft stupid party in the meantime.... like the Conservatives

THEMOUND

[QUOTE=simax;30411713 I've always been a 99 CPD, just never knew why. Never had a bad mark with them at all.

[/QUOTE]

LOL

You wont get that "flag" removed im afraid, the internal systems,will, at their discretion decide to do so as and when it chooses, you simply dont meet the required criteria for any form of upgrades or extra facilities.:D

simax

OK, thanks for the heads up. I won't bother registering then.

... and there is no need to be snotty about it either!

paulmcerlean

THEMOUND wrote: »

LOL

You wont get that "flag" removed im afraid, the internal systems,will, at their discretion decide to do so as and when it chooses, you simply dont meet the required criteria for any form of upgrades or extra facilities.:D

How do you know this may I ask?

jambosans

paulmcerlean wrote: »

How do you know this may I ask?

THEMOUND doesn't know for definite, he/ she is simply paying devils advocate. Look at all the replies he/ she has made, they are all along the same line (e.g. "you don't meet the banks high standards/ requirements/ etc./ blah, blah, blah."). I will bite my tongue, and not make any accusations, but THEMOUND reminds me of another poster from a while back that was removed under various usernames - their name always had an association with HBOS. This poster tended to make similar remarks, often in a condescending manner.

Although in this instance he/ she is partially right, Lloyds TSB would be unlikely to budge in removing this, and refer you on to the CRA's. Although I'm sure, with proof, you could play the DPA card, and ask the status "re-evaluated" or something to that effect.