RBS internal credit scores

stclair

missile wrote: »

I am not disputing what you were told, I was not there. I am suggesting that you may have misunderstood or what you were told is ............. incorrect. I wish I had a pound for every time I was given misinformation by a poorly trained bank employee.

My son has an account with RBS. He has many defaults including 6 for late credit card payments but he is approved for loans et al.

Eventually I have persuaded him to arrange a direct debit to pay his CC in full.

He must have slipped the net as he wouldnt get that now under the same circumstances.

izools

Just to clarify, when it comes to matters of Credit Scoring banks are indeed unable to reveal the exact reason(s) for the decline, instead using the blanket term "Credit Scoring".

However in OP's case, the account application was declined due to credit policy not credit scoring. The difference is definite, albeit subtle.

My old Natwest account was the very same - if I had any charges then any applications for credit would be pre-declined for six months following the most recent charge. This was confirmed to me by the branch manager. It's to do with policy rather than credit scoring

Good luck OP! If RBS won't budge, and can confirm in writing that this is the sole reason for the decline, I would suggest that British Gas have caused your character to be defamed and potentially could be sued.

missile

stclair wrote: »

He must have slipped the net as he wouldnt get that now under the same circumstances.

He got a personal loan to buy a car last month.

I don't have access to the RBS criteria for credit rating system. I doubt those in a branch have access. They should not divulge details to a client.

IMHO it is ridiculous to give one default as the sole reason for the refusal. I would suggest 90+ percent of the population will have one or more defaults in the last five years.

chambta

izools wrote: »

Just to clarify, when it comes to matters of Credit Scoring banks are indeed unable to reveal the exact reason(s) for the decline, instead using the blanket term "Credit Scoring".

However in OP's case, the account application was declined due to credit policy not credit scoring. The difference is definite, albeit subtle.

My old Natwest account was the very same - if I had any charges then any applications for credit would be pre-declined for six months following the most recent charge. This was confirmed to me by the branch manager. It's to do with policy rather than credit scoring

Good luck OP! If RBS won't budge, and can confirm in writing that this is the sole reason for the decline, I would suggest that British Gas have caused your character to be defamed and potentially could be sued.

Good point. Except it's not credit policy. I've personally, and in recent weeks and days opened full accounts for those with Key Accounts who've had one-off unpaid items.

tigerlily44

chambta wrote: »

Good point. Except it's not credit policy. I've personally, and in recent weeks and days opened full accounts for those with Key Accounts who've had one-off unpaid items.

In that case what would it be? As I've pointed out, I've no adverse and am not overcommitted (I realise that a current account is a credit product but its not guaranteed that credit will be provided), its not like I tried for a credit card or loan...will never understand how these things work and I suppose I'm not meant to...

I don't understand how you can have opened these accounts for others but I was prevented from doing so due to this one unpaid item - and I will reiterate the manager backed up the bank employee in giving this as a reason

tiger

jen245

How long have you been banking with them?

tigerlily44

jen245 wrote: »

How long have you been banking with them?

Six months with regular salary payments going in, mortgage etc coming out

tiger

mclaren32

tigerlily44 wrote: »

Six months with regular salary payments going in, mortgage etc coming out

tiger

Based on experience I would suggest that 6 months history and an unpaid on the account within that time will definately have an impact.

Had you banked with them for 3 years and the same had occured it would be a different situation.

jen245

I think perhaps because you already have a limited credit history, and have only been banking with them for 6 months, it might not be enough for them to offer you a full current account yet. Maybe give it another 6 months, and if they still wont upgrade it, then try with another bank

lawrie28

RBS internal ratings need more than 6 months to give a good score, prior to that they have a lower score as there is not much history. To improve the score stay out of any unauthorised overdraft, don't have any returns/charges and try and pay in as much as you can, even if you have to withdraw it again.

The system will allow some level of auto approval for loans etc, so is worth having good account conduct.