Barclays (Basic) cash card account - VS - LloydsTSB (Basic) Cash Card Account

pipsi_2

I have six current accounts with five different banks, only one of them shows on my credit reports, and it's my Nationwide Flex Account which was opened a couple of years ago when i worked in France for six months, it's barely been used in the past 18 months and only has a few pounds credit, i've never had any overdraft on the account, never applied for it or been offered it, however it shows on my credit reports as an up to date credit account. I have a £1600 overdraft on my graduate account with another bank which as little activity other than my £20 pm SO that goes into it. I also have two other current accounts with different banks which at one time have had overdrafts, both were paid off within the last couple of years and i've no longer got the overdraft facility on either of these accounts. Despite all of this the only account that shows on my credit report is the only one that has hardly been used since it was opened and has never had any sort of credit attached to it.

usedandabused

i couldn't open a barclays cash card account, so annoying!!!!!!!!!!!!!!

iblametheparents

izools wrote: »

HOWEVER Barclays Bank do take into account your existing accounts with them when applying for a full current account.

Wrong, how you run a Cash Card account has no bearing whatsoever on you getting a full account. Even if you had it for 5 years you'd still need to do a full application, which is credit scored. You cannot upgrade Cash Card accounts, you have to open a brand new full current account.

izools

iblametheparents wrote: »

Wrong, how you run a Cash Card account has no bearing whatsoever on you getting a full account. Even if you had it for 5 years you'd still need to do a full application, which is credit scored. You cannot upgrade Cash Card accounts, you have to open a brand new full current account.

Yes you do still need to do a full application and yes it is still credit scored, and yes it is opened as a separate account not upgraded, but as part of the scoring process the bank checks the running of existing accounts.

Ergo Barclays gave me a full current account with chequebook etc only nine months after I'd been discharged from bankruptcy - but I had held and ran well two cash card accounts for just over six months before applying for the full account.

iblametheparents

izools wrote: »

Yes you do still need to do a full application and yes it is still credit scored, and yes it is opened as a separate account not upgraded, but as part of the scoring process the bank checks the running of existing accounts.

Ergo Barclays gave me a full current account with chequebook etc only nine months after I'd been discharged from bankruptcy - but I had held and ran well two cash card accounts for just over six months before applying for the full account.

Trust me, I work for Barclays, how you run your cash card account has no bearing whatsoever!

jonny1983_2

iblametheparents wrote: »

Trust me, I work for Barclays, how you run your cash card account has no bearing whatsoever!

WRONG - been told in branch today, if I keep my account in good order for 6 months it WILL help towards a full account with Barclays. Having said that you still have to complete an application and go through the usual credit check.

The Advisor told me enough money going into account and its never been O/D or had missed payments, but I drain the account each month so need to keep money in each month to improve application.

iblametheparents

jonny1983 wrote: »

WRONG - been told in branch today, if I keep my account in good order for 6 months it WILL help towards a full account with Barclays. Having said that you still have to complete an application and go through the usual credit check.

The Advisor told me enough money going into account and its never been O/D or had missed payments, but I drain the account each month so need to keep money in each month to improve application.

Whoever told you that was giving you incorrect information. Ring up if you want to, speak to Telephone Banking, or someone higher up in Customer Relations. If you have a Cash Card account and then apply for a BBA then the history of the Cash Card account is not taken into account at all. The two products are on completely different refer streams!

iereboy

I will answer your Lloyds TSB questions:

* Yes it can be upgraded in the future if you manage your accounts well for 6 - 12 months (and your CRA info is clean.) This is not a guaranteed offer though.

*Cash account customers will NEVER be offered pre approved lending products. eg Loans, Credit Cards. (As long as you have a cash account you will never have an Overdraft, Cheque book either)

PJHilder

jonny1983 wrote: »

The Advisor told me enough money going into account and its never been O/D or had missed payments, but I drain the account each month so need to keep money in each month to improve application.

I was told the same thing. The reason I couldn't have a full account was due to not leaving enough running balance on my cash card account each month.

So basically the advice was to not put any spare into a decent savings account but leave it there to earn nothing. :huh:

SpudGunner

iblametheparents wrote: »

Whoever told you that was giving you incorrect information. Ring up if you want to, speak to Telephone Banking, or someone higher up in Customer Relations. If you have a Cash Card account and then apply for a BBA then the history of the Cash Card account is not taken into account at all. The two products are on completely different refer streams!

How does them being on different refer streams have any factor in it? I have never heard of the ref stream making any odds? (worked for Barclays 21 years but dont have all the answers - maybe I will look on SID tomorrow)