LTSB Credit Policy Decline.....

starM

paulmcerlean wrote: »

why do I keep reading that LSTB stick CPD on perfectly well run accounts??!!

????????????????? Thats my question aswel - any LTSB staff here to answer this question?

MS

noah271007

From what i have heard, their internal credit scoring system is basically hit and miss.

Anyone will get a CPD 99 if they have not used account; overdrawn (even within the agreed o/d limit); bounced payment of any kind resulting in bank charges; recently applied for credit; any adverse changes feed from experian and so on.

It is a mystery how Lloyds TSB internal scoring works. If they continue to have a CPD 99 on my account in 6 months time, i will close my account - their loss!!

noah271007

paulmcerlean wrote: »

How is it possible to have a credit policy decline and still have an OD?

Once you opened an account, they will do a credit check and give you anything on offer like o/d.

It is later on, say 6 months to a year after opening that most people starting getting problems with CPD 99 on their accounts.

The best way to beat the system is to close the account and reapply again in 6 months wiped clean state. Stupid i know but don't think there's an alternative is there?

cockywatchman

I had this capper with lloyds I lived in a rented house when I was on the voters I went down Lloyds applied for an account they said cash card account only I wasn't bothered but I could check my experian etc using the debit card.

It turns out at that time in 2007 there was two cifas from previous tenants(eastern european) I am british.

After 6mths of being told I was rating 9, they changed their system said it was 99 no accounts offered etc. So after 9mths I lost my rag went in closed my account. My mate told me over a beer lloyds system is mental so i walk in the branch they open me an account i explained closed it yesterday etc they said you can have a silver account.

They for another 6mths my score was 99 it never changed in 18mths I went to barclays they gave me their top account no bother my income is 75k per year but I don't work for a top 100 company and don't get paid by bacs, this is the main problem.

The cifas dropped off after 13mths and technically cifas for other people should have no bearing on my credit, somone should tell lloyds this it's still 99 now 3 and 1/2 years later.

paulmcerlean

noah271007 wrote: »

From what i have heard, their internal credit scoring system is basically hit and miss.

Anyone will get a CPD 99 if they have not used account; overdrawn (even within the agreed o/d limit); bounced payment of any kind resulting in bank charges; recently applied for credit; any adverse changes feed from experian and so on.

It is a mystery how Lloyds TSB internal scoring works. If they continue to have a CPD 99 on my account in 6 months time, i will close my account - their loss!!

Are you sure that by using your agreed overdraft you are automatically given a credit policy decline flag? Surely this would at one stage or another place flags on a very large amount of customers and they would have no one to offer products to? :rotfl:

iereboy

LLoyds system is indeed flawed.

CPD will show on many VERY well managed accounts.

Staff are confused about it as well as it makes no sense.

The stupid thing is that if you close all your accounts down and then open up another one, it can get rid of the CPD .....crazy system I know.

noah271007

paulmcerlean wrote: »

Are you sure that by using your agreed overdraft you are automatically given a credit policy decline flag? Surely this would at one stage or another place flags on a very large amount of customers and they would have no one to offer products to? :rotfl:

Any individual who is overdrawn (but within their o/d limit) have a HIGHER risk therefore 99 CPD. I got a 99 CPD and i have managed my account well with the exception of being overdrawn at times.

noah271007

iereboy wrote: »

LLoyds system is indeed flawed.

CPD will show on many VERY well managed accounts.

Staff are confused about it as well as it makes no sense.

The stupid thing is that if you close all your accounts down and then open up another one, it can get rid of the CPD .....crazy system I know.

I have to say HSBC are also turning people down for credit including myself even though we have jobs, decent credit history, high internal score on accounts and low debts etc.

I spoke to an advisor in Guildford branch to find out why i have been declined for a hsbc credit card and she could not see any reason for the decline but that she is seeing more customers having this problem and she does find it baffling.

It is funny when you see the likes of Elky Elky who got a hsbc credit card despite the fact has opened several credit cards in a short time and have a relatively short credit history does indicate to me that credit decisions are unfair, unbalanced and does not serve its purposes.

simax

I've never incurred one single charge whilst owning my account and am still a CPD.

izools

I now have this dreaded CPD marker on my account.

The lady in branch told me that the system is heavily biased against those that use their overdraft each month. She also told me to put my savings back in my current account (this was when I went in on Thursday) over the weekend as their system does it's monthly account scoring this time of the month. Good girl :beer:

So if we can avoid using the OD then the CPD marker should drop off after 3-6 months