Refused Halifax Reward Current Account

TravelTiger

I have just been refused a Halifax Reward current account on the grounds of a credit report. The member of staff told me that I would have to contact Experian or Equifax if I wanted to know why. I find this very strange, as I have recently opened both a Savings and a credit card with Halifax without any problems.

I was refused a Bank of Scotland account about 5 years ago for the same reason. On this occasion I got a credit report from Experian but couldn’t see anything unusual. However I wasn’t really sure what I was looking for.

I work in a fairly well paid job, own my house, don’t have a mortgage, have savings and don’t have any loans. I have had a credit card in the past but used it very little. I gather that this may give me a poor credit score. Yet I was still accepted for a Halifax credit card and savings account. I would have expected that the hardest thing to get with a low credit score would be a credit card.

Are HBOS particularly strict on who they accept for there current accounts? I have opened a number of current accounts with other banks over the years without any problems.

mr_fishbulb

Have a look at this article to obtain your credit reports from the various agencies and check that there is nothing untoward on there.

Banks will have 2 ways of scoring credit. One is from the credit agencies, and the other is their own in-house scoring system. It could be that there is nothing wrong with your Experian/Equifax report but you don't meet Halifax's secret in-house scoring system.

I'm guessing you're on the electoral role?

TravelTiger

Yes I`m on the Electoral role.