Lloyds tsb account error 8 credit searches

bilbo_2

Last month i tried to open another vantage account online/over the phone/in branch but got a technical glitch error each time.

I have been a Lloyds customer over 10 years.

They actually did 8 credit searches confirmed by the banker in branch. He told me it would appear to other financial institutions like "I was desperate for credit"

They actually got to the bottom of the problem after 2 hour of me waiting in the branch (An incomplete application for a savings account done by branch staff 6 months earlier).

So to sum it up tried 3 times online. (Around 1 hour)

4 times over the phone (2 hours)

and in branch as well (It took 2 hours) had time off work for this.

Do I have any chance of claiming compensation from them for this.
Phone calls/time off work/ etc

stclair

Personally I would say no as you have not suffered any financial loss.

If you have any queries regarding removal of the credit searches you should write to them at the below address if you dont have any joy in branch:

CDR DATA QUALITY TEAM, QUEENS ROAD QUADRANT, 1-5, QUEENS ROAD, BRIGHTON, BN1 3XJ

bilbo_2

what about the expense of time off work in branch and all the phone calls. Also the damage it has done to my credit score.

Would they not consider this ??

stclair

bilbo wrote: »

what about the expense of time off work in branch and all the phone calls. Also the damage it has done to my credit score.

Would they not consider this ??

I think you would need to discuss it them.

Follow there complaints procedure:

http://www.lloydstsb.com/contact_us/complaints_procedure.asp

Credit score dont mean anything anyway you may aswell pick a number at random.

Every business has there own scoring models so the score will always be different.

Once the credit searches are removed the score would be put back to how it was with the CRAs orginally before it all happened.

Dr_Cuckoo3

bilbo wrote: »

They actually did 8 credit searches confirmed by the banker in branch. He told me it would appear to other financial institutions like "I was desperate for credit"

bilbo wrote: »

what about the expense of time off work in branch and all the phone calls. Also the damage it has done to my credit score.

Would they not consider this ??

From Experian Delphi for Customer Management

Experian wrote:

http://www.experian.co.uk/consumer-information/delphi-for-customer-management.html#tabs-2

"Delphi for Customer Management is an event monitoring service that identifies changes in the credit behaviour of your existing consumer credit customers, then, using highly intelligent scorecards, provides a continually updated risk assessment of your consumer credit portfolio.

Experian is provided with the names and addresses of all the accounts / customers to be monitored. These can be supplied from data extracted for the regular monthly Credit Account Information Sharing (CAIS) update file, or from a bespoke input file.

These names and addresses are added to the Delphi for Customer Management system, along with updates to Experian’s consumer database – such as new CCJs, CAIS status changes, searches, aliases and linked addresses. Together, these updates are known as significant events. Examples include:

* Missed payments
* Registration of new judgments
* Individual Voluntary Arrangements
* Bankruptcies
* Sudden increases in credit activity :eek:
* Changes of address.

Every week, Experian monitors the customer file for significant events. If one is detected, the customer is re-scored using the Delphi for Customer Management scorecards. A file is then passed back from Experian containing the events and the new scores on either a weekly or monthly basis.

The Delphi for Customer Management events and scores can then be incorporated into all the relevant management processes in your organisation.

Key Benefits of Delphi for Customer Management

Saves time - By identifying only those customers with a significant credit event who require action. :cool: