For the Journey (Yeah right!) (Lloyds TSB)

Ashmeister_UK

Hi all,

I registered, simply to share in my woes, a tale of how Lloyds TSB single handedly ruined my credit rating.

I started banking with lloyds 8 years ago when I left education and started working. Since then I have kept my account in good standing, never missed a payment, never gone over my overdraft, always paid in excess of £1500 per month, and had numerous loans, 4 infact, all of which were settled on time in full or early.

Throughout this time I was bombarded with offers of platinum credit cards and the like which I opted never to take as I simply do not like credit cards as I'd prefer not to have the temptation in my pocket (Personal Preference).

That said, last year, unhappy at work and in a bit of 'I need to find myself slump' I settled my latest loan of £7500, (Early!) and having saved up around £4000 extra I decided to leave the UK and go travelling around Thailand and Australia for 2 months. The whole time I was transferring money through my account. I returned, February this year after spending an amazing new year abroad, and immediatley began job hunting!

In April I landed a fantastic new job which requires that I A.) Travel a lot and B.) Use a personal credit card for company expenses

It was at this point I approached my bank whom I've been an excellent customer for 8 years, who apparently 'In for the journey' and filed a credit card application and asked them for a loan to purchase a Deisel car for travel, to which some snotty young girl replied... no, and when questioned simply 'computer says no' were her exact words, must be your credit rating as your account is in good standing. I asked to see the Manager and was told no, I was then refered to Black Horse Finance.

I applied for credit through Black Horse Finance, they also said no. I applied for car finance through a dealership via 'Close Motor Finance' who I had previously used before and settled an account with, in full, and was also told no! By this time my credit card application came back... no. I applied with Capital One... no...

By this time I thought something MUST be wrong, I have always had excellent history with finance/credit, so I applied for a credit check through credit expert. What came back was a glowing report with a score of 994/1000, but however one big humongous red light...

A loan... with lloyds tsb... with a balance of £7500. You can imagine my anger, I wrote in a complaint, and when pursued they put this down to an admin error and promised to get it removed, however this was going to take... wait for it... a MONTH! A month later, I do a credit check, same thing! It wasn't until I got Credit Expert to act on my behalf that the damn thing actually got removed, trouble is, I've now been advised not to apply for credit as there are now so many credit checks against my name, I pushed Lloyds and said the least you can do now is offer me a credit card for my job as I've already been bailed out by friends and family for a car loan. We're sorry for what has happened to you but we simply cannot just offer you a credit card...

Still not pushed to the limit enough to want to go to the hassle of moving my account, I get a letter this month, my overdraft of which I have been paying interest on since April, they now want to charge a fee, on top of the interest of £5 per month!

So lets get this straight, after losing billions of pounds of taxpayer money on bad investment, and then this year posting record profits, you still want to profiteer off the downtrodden, you filthy scum.

For the journey my !!!!. I last week applied for a 0% overdraft current account through Santander which has been accepted and all signed off.

Goodbye lloyds, that was the worst 'Journey' I've ever had!

apt

If you are switching to Santander you may well find that there is an even worse 'journey' to come.

stephane_2

Santander....OMG...good luck!!! Worst customer service ever...with thousands of complaint...

Ashmeister_UK

Ohh well I guess its a case of cutting my nose off to spite my face!

JohalaReewi

Frying Pan -> Fire

What came back was a glowing report with a score of 994/1000

Money saving tip: Don't waste your good money on meaningless credit score numbers from credit reference agencies. They are worthless (as you have discovered). Just get the report.

Chadsman

The credit score you have is a meaningless marketing gimmick CRAs use.
You were turned down for new credit either because they think they wont make enough money out of you or more likely there was some factual information (not a subjective credit score) that suggested you posed a credit risk. If you have been travelling a lot recently it could be that you are not on the electoral roll, or if you have changed your registered address a number of times recently or even a small spelling mistake in your address/postcode on the application form they will count heavily against you.
IMHO moving to Santander was a bad mistake.

Ashmeister_UK

As a recommendation then, if I were to choose a different bank, who would I go with?

I picked Santander because of their 0% overdraft.

ps. I did buy a credit report also, however the only thing on the report that was a red light was the loan that lloyds hadn't cleared!

Chadsman

What are you looking for- a single company who can provide all your financial needs, a bank with good online banking, a bank with good branch facilities...?
If you say 'yes to all' I will scream :eek:

exel1966

Ashmeister_UK wrote: »

Hi all,

I registered, simply to share in my woes, a tale of how Lloyds TSB single handedly ruined my credit rating.

I started banking with lloyds 8 years ago when I left education and started working. Since then I have kept my account in good standing, never missed a payment, never gone over my overdraft, always paid in excess of £1500 per month, and had numerous loans, 4 infact, all of which were settled on time in full or early.

Throughout this time I was bombarded with offers of platinum credit cards and the like which I opted never to take as I simply do not like credit cards as I'd prefer not to have the temptation in my pocket (Personal Preference).

That said, last year, unhappy at work and in a bit of 'I need to find myself slump' I settled my latest loan of £7500, (Early!) and having saved up around £4000 extra I decided to leave the UK and go travelling around Thailand and Australia for 2 months. The whole time I was transferring money through my account. I returned, February this year after spending an amazing new year abroad, and immediatley began job hunting!

In April I landed a fantastic new job which requires that I A.) Travel a lot and B.) Use a personal credit card for company expenses

It was at this point I approached my bank whom I've been an excellent customer for 8 years, who apparently 'In for the journey' and filed a credit card application and asked them for a loan to purchase a Deisel car for travel, to which some snotty young girl replied... no, and when questioned simply 'computer says no' were her exact words, must be your credit rating as your account is in good standing. I asked to see the Manager and was told no, I was then refered to Black Horse Finance.

I applied for credit through Black Horse Finance, they also said no. I applied for car finance through a dealership via 'Close Motor Finance' who I had previously used before and settled an account with, in full, and was also told no! By this time my credit card application came back... no. I applied with Capital One... no...

By this time I thought something MUST be wrong, I have always had excellent history with finance/credit, so I applied for a credit check through credit expert. What came back was a glowing report with a score of 994/1000, but however one big humongous red light...

A loan... with lloyds tsb... with a balance of £7500. You can imagine my anger, I wrote in a complaint, and when pursued they put this down to an admin error and promised to get it removed, however this was going to take... wait for it... a MONTH! A month later, I do a credit check, same thing! It wasn't until I got Credit Expert to act on my behalf that the damn thing actually got removed, trouble is, I've now been advised not to apply for credit as there are now so many credit checks against my name, I pushed Lloyds and said the least you can do now is offer me a credit card for my job as I've already been bailed out by friends and family for a car loan. We're sorry for what has happened to you but we simply cannot just offer you a credit card...

Still not pushed to the limit enough to want to go to the hassle of moving my account, I get a letter this month, my overdraft of which I have been paying interest on since April, they now want to charge a fee, on top of the interest of £5 per month!

So lets get this straight, after losing billions of pounds of taxpayer money on bad investment, and then this year posting record profits, you still want to profiteer off the downtrodden, you filthy scum.

For the journey my !!!!. I last week applied for a 0% overdraft current account through Santander which has been accepted and all signed off.

Goodbye lloyds, that was the worst 'Journey' I've ever had!

An awfully long pointless rant ! :rotfl:

tellmeitsfriday

Ashmeister_UK wrote: »

As a recommendation then, if I were to choose a different bank, who would I go with?

I picked Santander because of their 0% overdraft.

ps. I did buy a credit report also, however the only thing on the report that was a red light was the loan that lloyds hadn't cleared!

For customer service, the general consensus is First Direct, but they are picky.

You don't hear many people complaining about HSBC generally, or Barclays.

Whatever you do tho - escape from scamtander while you still have your sanity!!

Ashmeister_UK

Hmm, trouble is I've signed up using their easy account switching process, is it too late to cancel my application?

My current girlfriend banks with HSBC and I've had a bad experience in branch with them.

My ex used Abbey who are now Santander and shes always had pleasant experiences and most recently she had a good experience also so just naturally leant towards them.