How to be black-listed!

notso_2

After months of nagging my son to apply for a student account ready for September, I finally got him to apply for a Halifax student account online - oh boy, what a mistake!

Background information. My son has a Nationwide current account with debit card - the hardest current account to get i'm told.
He has NEVER been overdrawn. He has NEVER had a credit card. He has NEVER had a loan. He is a saver, not a borrower.

He does however realise that he will need a student account with an overdraft facility. Imagine our surprise when he gets turned down because he has a very bad credit score. I've had to explain to him the reasons why as in my second paragraph.

So he goes into the Halifax today to get it sorted out and apparently he is now completely blacklist by all banks because not only was he turned down on the internet because his score is still bad he got turned down today.

Answers on a postcard please. How does someone with a superb money mentality win in this world? He is one very disillusioned student-to-be.:mad:

Lokolo

He hasn't been blacklisted by all banks.....

Why Halifax? Why not another bank? HSBC? Natwest? Lloyds?

He doesn't need to get into debt to a better credit rating. Getting a credit card doesn't mean he can't save and is constantly borrowing money. Just spend some little amounts on a CC and pay it off each month.

nomoneytoday

Maybe the cashier was confused?

dmg24

Someone is talking nonsense, and I am not sure if it is your son or the bank.

A Nationwide current account is no more difficult to get than any other bank account.

Has he checked his credit report? There is no reason why being turned down for one account should affect him applying for other accounts.

Huomenna

notso wrote: »

After months of nagging my son to apply for a student account ready for September, I finally got him to apply for a Halifax student account online - oh boy, what a mistake!

Background information. My son has a Nationwide current account with debit card - the hardest current account to get i'm told.
He has NEVER been overdrawn. He has NEVER had a credit card. He has NEVER had a loan. He is a saver, not a borrower.

He does however realise that he will need a student account with an overdraft facility. Imagine our surprise when he gets turned down because he has a very bad credit score. I've had to explain to him the reasons why as in my second paragraph.

So he goes into the Halifax today to get it sorted out and apparently he is now completely blacklist by all banks because not only was he turned down on the internet because his score is still bad he got turned down today.

Answers on a postcard please. How does someone with a superb money mentality win in this world? He is one very disillusioned student-to-be.:mad:

That doesn't make any sense to me at all - I left Nationwide because they wouldn't give me a debit card for my current account despite me never going over drawn and having a part time job (they did however give one to my friend who earnt less money than me, but wouldn't explain why). I told them where to stick their account, walked into Halifax and was given a current account with debit card straight away. Granted it wasn't a student account, but they offered me an overdraft and credit card (both of which I turned down because I didn't need) and offered me a student account when they found out I went to uni which again I didn't accept as it wasn't necessary.

I don't see why Halifax would turn your son down if Nationwide didn't, maybe it was a misunderstanding. When I got my current account I'd never borrowed any money and yet I had/have a good credit rating.

Why does your son need an overdraft and a student account? As said above I went to university and never had either (and no my parents never paid my way for me).

Huomenna

dmg24 wrote: »

Someone is talking nonsense, and I am not sure if it is your son or the bank.

A Nationwide current account is no more difficult to get than any other bank account.

Has he checked his credit report? There is no reason why being turned down for one account should affect him applying for other accounts.

I had a nationwide current account - they refused to give me a debit card for it despite never going over drawn. When I asked why they admitted there was nothing wrong with my credit rating, but they have their own 'points' system which they use before deciding whether or not to give accounts/cards to people.
Walked into Halifax and I got an account instantly.

melancholly

well halifax do have a reputation of being pickier about handing out accounts than other places - tbh, apart from checking his credit report, i'd just sit tight and wait. the banks will announce all their offers for student accounts closer to results time and a lot of them won't let you open the account without proof of an accepted place at uni.

MoneySavingUser

Lokolo wrote: »

He hasn't been blacklisted by all banks.....

dmg24 wrote: »

Someone is talking nonsense, and I am not sure if it is your son or the bank.

A Nationwide current account is no more difficult to get than any other bank account.

Indeed the OP's post it totally roflcopter:rotfl:

I was in the same position as your son - Halifax were quite happy to give me a student account (though I admit I didn't ask for an O/D)

Banks are usually quite generous with Student O/D's because they hope the person will stay with the bank for the rest of their lives

dmg24

Huomenna wrote: »

I had a nationwide current account - they refused to give me a debit card for it despite never going over drawn. When I asked why they admitted there was nothing wrong with my credit rating, but they have their own 'points' system which they use before deciding whether or not to give accounts/cards to people.
Walked into Halifax and I got an account instantly.

All banks have their own criteria - all because you were turned down at Nationwide, it does not mean they are the most difficult bank, but rather that you did not meet their criteria.

7891368

Lloyds were dead easy for me if that helps?

Indie_Kid

Lokolo wrote: »

He doesn't need to get into debt to a better credit rating.

I was told this by someone at Looyds. I was told that because my current account is "healthy" (not overdrawn and have money going in & out of it every month, etc) I should have a decent credit rating. I haven't checked this yet.