The Sub Prime Credit Thread - Part V

never-in-doubt

PROLIANT wrote: »

No Passport or licence.

Ok, well HSBC (in branch) will allow other documents, all you need is any kind of tax letter and a couple of other statements..... :beer:

And there was me thinking you drove a little sporty number with private plates that jetted off abroad every year!

fairmorn308

Good evening. Well thats me home for a wee while as only had 4 days at home in the last 7 weeks. Got lots of updates and also managed to secure myself a new contract with more £££ than i was on before.

Will update later

izools

never-in-doubt wrote: »

Ok mate that alone and in itself is a direct breach of banking Code - can you confirm the branch you went into and the idiots name you spoke to (via PM) and i'll report them.

If you are within any agreed limit then no derogatory internal or external data may be recorded against you. Thing here is they cannot play devils advocate by giving you a product and penalising you for using it!

Kinda like having a £10k card limit, owing £9k then being CPD as a result IYSWIM?

Hey by the way, i'm not arguing with you mate - just trying to establish the facts (as I said) :beer:

A CPD marker notifies whether or not they consider you fair risk for more credit.

It makes perfect sense - if you go right up to your overdraft limit every month without making credit payments to them, how could you afford to make credit payments to them?

A CPD marker just says no more - I think it's a bit of a grey area whether this is adverse or just lending policy.

Would you lend to someone who uses 95% of their overdraft for three weeks in the month? Or would you hold on to your capital until an applicant comes along who never uses their overdraft and keeps a healthy running balance?

I can totally appreciate LTSB's stance and had no idea that it could post a breach of the banking code - I must read more....

TheEffect

I'm off to university in September, and contemplating what I should do about my bank account. I can keep first direct, but would not be able to get anymore then the £250 overdraft, or I can change my HSBC account to a student account however it's unlikely they'll give me a student overdraft as I still have 40 searches on my credit file.

I could also try Natwest as they're meant to be good to students?

izools

I know Barclays student acconuts are opened at the discretion of the branch manager and not the computer, but whether you want to bank with Barclays is another matter... Last ditch fallback I suppose

sutton111

iZools would you make a comment on this for me please #73

izools

sutton111 wrote: »

Sorry to bad on!! lol

So these three graphs are their way of determining everything then?

So basically. Keep up repayments outside of Lloyds, but also don't go overdrawn, return cheques and always use your debit card. Like most banks then!

So if I did have a CPD. I'd have to run the account properly for 3 months and then ask them to remove it by going into the branch. I know it's all hypothetical, but it's good to know.

Well yes, that's certainly the surface of it but they do look at the whole 12 months not just three to six.

The whole scoring technique and exactly how it works will be far to complex for you or I to understand - involves neural nets and existing-customer-performance based analisys and all sorts.

But it seems to pay more with LTSB than any other bank I've been with to keep a healthy running balance in your account at all times, not just use it regularly and have a high turnover.

TheEffect

izools wrote: »

I know Barclays student acconuts are opened at the discretion of the branch manager and not the computer, but whether you want to bank with Barclays is another matter... Last ditch fallback I suppose

I should have enough money to make it through the first year easily, so I guess I'm not really in need of a student account that much.

sutton111

izools wrote: »

Well yes, that's certainly the surface of it but they do look at the whole 12 months not just three to six.

The whole scoring technique and exactly how it works will be far to complex for you or I to understand - involves neural nets and existing-customer-performance based analisys and all sorts.

But it seems to pay more with LTSB than any other bank I've been with to keep a healthy running balance in your account at all times, not just use it regularly and have a high turnover.

How did you figure out you had a CPD marker anyway?

izools

sutton111 wrote: »

How did you figure out you had a CPD marker anyway?

I was reading on here about other LTSB customers having CPD markers for no apparent reason so I checked with them whether I had one... lo and behold!