declined overdraft advice!

tony4321

Sorry if there is already a thread on this but I have been declined a £150 OD (to act as a safetynet so I'm not charged for unpaid direct debits). My bank took it to the underwriters & it's still been declined. I can't understand why & they are giving no reasons. I have had an account with same bank 20 + years-salary paid in, all this time. My mortgage/house insurance with them too. I don't have any loans (apart from the mortgage, which I have 5 years left to pay)
I had a credit check for my mobile phone contract, which was granted.
I am really baffled as the bank have offered me a credit card, but no OD facility!
Thanks if anyone has any advice/ info

Tony

LeeSouthEast

What bank? Time to move?

chambta

If the computer says 'no' that's usually it these days.

Credit cards etc are credit scored in different ways and having one thing is no guarantee to the other.

iblametheparents

Overdrafts tend to be internally scored, whereas credit cards are externally credit checked.

KingElvis

Yep, Natwest searched me on a credit card and a new joint account but gave me a 2k overdraft on two accounts without any credit check what so ever.

Your internal rating with your bank will be blocking this. It's most likely to do with account management, you been od lately? any charges or bounced items?

tony4321

Santander.Yes suppose it's time to thinking about moving. Will need a day or two off work to sort it though. Can never deal with anyone in branch, as everytime I have gone in 'no one is available'

tony4321

No, I disagree on the info I was given by the Bank Manager. She told me the declined OD was not their decision & they have no power in that. She said it was externally decided - the reason why she took it to the underwriters. Thanks for your advice. I am becoming more confused by the minute!

tony4321

No OD, no charged items etc. My current account is squeeky clean. I was told it may be something to do with previous tennants having a black mark on this address but I have lived here a long time (had mortgage since 1991) so don't quite get that excuse

tony4321

chambta wrote: »

If the computer says 'no' that's usually it these days.

Credit cards etc are credit scored in different ways and having one thing is no guarantee to the other.

sounds about right. 'computer says no':rotfl::mad:

iblametheparents

tony4321 wrote: »

No OD, no charged items etc. My current account is squeeky clean. I was told it may be something to do with previous tennants having a black mark on this address but I have lived here a long time (had mortgage since 1991) so don't quite get that excuse

The manager was telling you a load of garbage. There's no such thing as a black list on an address. Your own credit file is the only one that matters.

When she said it wasn't their decision, she probably meant themselves in the branch. It will have been decided centrally within Santander.

tony4321

iblametheparents wrote: »

The manager was telling you a load of garbage. There's no such thing as a black list on an address. Your own credit file is the only one that matters.
QUOTE]
Thank you for clarifying that. I had decided to accept that must be the reason until speaking with a friend today who said it may be because I have no previous 'credit activity' ie never had loans, credit card, store cards etc so I may well have the same problem if I change banks.

Serves me right for trying to be responsible with my money!!