The importance of internal scoring demonstrated?

ses6jwg

I joined a big high street bank in April.

My basic credit profile is that I am a 22 year old male, no mortgage, 14k student debt (SLC post 99), £1000 interest free overdraft, £750 limit split between two credit cards.

Working for the bank meant I had to open a bank account with them.

I applied for one of the better accounts with MFC and benefits. It went to review. It came back accept but with no overdraft. I applied for staff credit card at the same time and it was declined. I had been declined for a halifax clarity 2 months previously also.

3 months later I applied for a £50 overdraft on my account as a buffer.

Straight decline.

Now after using the account for 6 months, I have just been accepted for the credit card with a £3400 limit! and they are willing to offer me a £1400 overdraft on top (I have kept it at £100 as this is interest fee).;

Does this demonstrate the importance of buulding a relationship with your bank? Or is it more a case of making too many credit searches within the space of 6 months?

With my natweest account, I used to live in the £1000 OD and put anything else into savings.... now I do not do this anymore and havent for 3 months would this have been the main reason? Poor management?

just intruiged thats all

stephane_2

Internal scoring is extremely important and if your own bank sees regularly how much is going in how much is coming out, what is left at the end of each month, as long as you do not use your overdraft regularly and as long as they don't get anything nasty from the credit reference agencies monthly feed then you are likely to be accepted for their in house financial products....with my bank, I never been searched (formally) for their credit card or loan with them.

ses6jwg

stephane wrote: »

Internal scoring is extremely important and if your own bank sees regularly how much is going in how much is coming out, what is left at the end of each month, as long as you do not use your overdraft regularly and as long as they don't get anything nasty from the credit reference agencies monthly feed then you are likely to be accepted for their in house financial products....with my bank, I never been searched (formally) for their credit card or loan with them.

what surprised me the most was my credit card was pre-approved - I wasnt even credit scored.

danothy

I have to agree, it seems to me that internal scoring is worth so much more than credit records. Halifax offered me a guaranteed credit card (with no credit search, just an affordability assessment) a while back ... presumably the last check they had on record no horror stories and they felt they knew enough about me off their own back.

It doesn't seem that unreasonable to me to value first hand information about someone above a generalised summary of them.

omen666

Also has a lot to do with the bank you are working for. I was in a precarious position when I was offered a job from HSBC. Upon opening their bank account as per the requirements I got sent everything I applied for even though turned down elsewhere just before accepting

Dr_Cuckoo3

ses6jwg wrote: »

Does this demonstrate the importance of buulding a relationship with your bank? Or is it more a case of making too many credit searches within the space of 6 months?

No - it shows your lack of knowledge on how your bank operates


6 months history is the minimum for account upgrades at most banks

and I doubt that you know your own behaviour score at your bank , either at the time of the initial decline and subsequent approval

Perhaps you could explain whether the additional facilities were approved purely on the behaviour score or whether a credit reference search was undertaken :idea:

I suspect that customers with a good behaviour score and no adverse CRA data can still be declined due to Experian Delphi for Customer Management data

I see that your "I work for Santander" thread has been removed , could you confirm that you use Experian Delphi for Customer Management data ?

ses6jwg wrote: »

what surprised me the most was my credit card was pre-approved - I wasnt even credit scored.

You are continually scored :cool: