Bank wont upgrade basic account to current..

saver_gem

Hi, i had alot of problems a few years ago which meant i jumped ship from the bank i owed £15,000 to, closing my current account with them in the process (now have a re-payment plan, no problems there) i have had a basic account with lloyds for about 3 years, a second basic account for 2 years plus opened 2 online savings accounts with them. Admittedly there savings are practuically empty, i just wanted seperate accounts for different things, to help me budget. Anyway, they wont let me have a current account, they cant say why, just something to do with credit score. Does anyone know how i can fix this? I dont really know why credit score would affect it as i dont want an overdraft or anything..?

opinions4u

As far as I'm aware all banks offering a full current account will credit score you.

So unless you can identify errors in your credit file that will clean it up completely if corrected, only the passage of time (combined with paying all your bills on time) will get you a full current account facility.

blueberrypie

saver_gem wrote: »

I dont really know why credit score would affect it as i dont want an overdraft or anything..?

A standard current account will come with a standard debit card, and not all transactions on a standard debit card are authorised before they are processed - e.g. many shops have a limit under which transactions are not electronically authorised, and purchases made on trains, for example, also aren't. Because of this, you can go overdrawn with a standard debit card *even if you don't have an overdraft agreement*. That's why you are credit-scored when you apply for a standard bank account - and right now, your credit history isn't good enough for the bank to take on the risk that you will go overdrawn. Keep your nose clean for a while longer and things will likely change.

pmduk

Have you looked to see if any other banks are more accommodating?

fischer79

can't offer much more advice than already given in terms of cleaning up your credit score but if your main issue is having more accounts to help with budgeting then you should be able to open as many savings accounts as required.
Some savings accounts even come with a debit card (with limited functionality) so not much different from a basic bank account (except you'll get a whopping 0.1% interest!).

PARIS_5000

saver_gem wrote: »

Hi, i had alot of problems a few years ago which meant i jumped ship from the bank i owed £15,000 to, closing my current account with them in the process (now have a re-payment plan, no problems there) i have had a basic account with lloyds for about 3 years, a second basic account for 2 years plus opened 2 online savings accounts with them. Admittedly there savings are practuically empty, i just wanted seperate accounts for different things, to help me budget. Anyway, they wont let me have a current account, they cant say why, just something to do with credit score. Does anyone know how i can fix this? I dont really know why credit score would affect it as i dont want an overdraft or anything..?

Is your credit file clear of defaults and CCJs if so then go to another bank because LLoyds do like to upgrade the cash account.