Bank says credit rating is bad when it isn't.

helen269

Hi everyone...

I currently am with a certain bank (lloyds tsb) and they have turned me down for a student account. I am starting my degree in September and a student account would really be ideal, however its the overdraft bit that perhaps they are turning me down for.

I have a cash account, which they say that it is all I am allowed.

I have never owed any money to anyone before. I did have a joint account over ten years ago but that has since been closed.

I have checked with one credit rating company and they said that they cannot find anything in my past and I was pretty clear as to where I lived ect.

I dont know what I can do about it.

Please help.

LilacPixie

try elsewhere??

Lokolo

Try elsewhere.

It could be your internal rating with Lloyds.

simax

The dreaded CPD marker rears its ugly head again .....

Crap_with_money.com

Did you actually speak to someone in the bank or was it just on telephone banking? The branch really are your best bet for specialised accounts like a student account. As Lokolo says, the bank will also consider your internal rating, which is often based on things such as whether you have direct debits/standing orders set up to pay your bills, whether you remain in credit every month and how much by etc?

If all else fails though, your best bet really is to shop around!

Good luck with it

xx

BASFORDLAD

If your a student you definately need to go some where else...

Try natwest/hsbc/rbs etc etc

MrsManda

Do you have an unconditional place at university?
Many banks won't give a student account with an overdraft at this time of year, though some may if the person has an unconditional place.
Wait until August and go into a branch with your confirmed place. Though as you've already been turned down by lloyds its probably better to try a different bank.

glennc1981

I've been with Lloyds before, and when I lost my job (due to ill health) I had trouble getting my account resumed to the way it was before I lost it (I had to pay my overdraft off and they relegated my card from Visa Debit to Electron when they offered it - they never ever offered me a cheque guarantee facility or a credit card). In the end I went elsewhere although I'm in the process of changing banks again.

Lloyds probably aren't worth staying with. I would recommend if you want a decent student account try another bank. From my own experiences it seemed to take forever to get anything altered with their internal checks. There's many banks out there that'd probably be happy to take your custom. Good luck in your bank hunt and your university studies.

bengal-stripe

MrsManda wrote: »

Wait until August and go into a branch with your confirmed place.

Wait to fresher's week and fresher's fair!

Virtually every bank will have a stall in your univerity, hoping to sign you up. - That's your opportunity to shop around.

Enfieldian

simax wrote: »

The dreaded CPD marker rears its ugly head again .....

Sorry, not heard of this before and Google does not give much info.

What is a CPD marker?

Bosie

Enfieldian wrote: »

Sorry, not heard of this before and Google does not give much info.

What is a CPD marker?

If this is on your account with LTSB there's is no chance of any type of credit ie: overdraft, credit card etc, just a marker they put on some account holders bank account.
There has been quite a bit on here about this CPD with LTSB.
Think it's 'credit policy decline' :eek: