Coop not helping

doobadog

Hi,

I need some advice please. I have banked with the The Cooperative for nearly 8 years, up until this month I had been debt free for nearly 10 months but this month I took out a £4k car loan with Black Horse finance.

I applied this morning to upgrade my Coop Cash-minder account to a current account but it has been declined because I have adverse credit. Credit expert say my credit score is 900 so I don't know why they have refused me. We were in debt until we cleared everything last June. We have a very good gross income and relatively small out goings, even with the new car loan. Also, I have learnt my lesson and will not take out anymore credit until the car loan is paid off in 2 years. We have a savings account with £400 with the Coop too.

All I want is a debit card that is accepted online by M&S and Debenhams, no overdraft or cheque book is required. So my question, is there a bank that will offer what I want or should I just accept the decision and stay with the Coop.

Any help would be really appreciated.
Kate

CLAPTON

what exactly do your credit files say about your credit history?

doobadog

all debts satisfied but there is a default showing for £21 March 2010 Captial One, even though I didn't ever miss a payment.

JuicyJesus

doobadog wrote: »

all debts satisfied but there is a default showing for £21 March 2010 Captial One, even though I didn't ever miss a payment.

You need to take this up with Capital One. If it's incorrect they can remove the default marker.

Either way, a default is very serious, and the Co-Op are within their rights to consider it "adverse information". Defaults typically mean that someone has completely ignored their responsibilities, has missed several payments and hasn't cooperated at all in trying to get the balance repaid.

Also, the credit score CreditExpert sells you is totally useless. Every bank will assess you differently and assign you a different score. Experian's doesn't match this. Don't waste your money on it.

PNPSUKNET

goto natwest they will give you a visa debit, even on their basic accounts

[Deleted User]

or halifax (visa electron but still visa)

ironlady2022

Think you need to sort it out though even if you do not intend to continue with coop. If default is not your fault even more reason to get it sorted out otherwise it can affect any mainstream credit in the future.

doobadog

Thanks for all your help, I do have an upgraded Electron card but it's not accepted by some stores. I have also written a letter to request an investigation into the default.

At the end of the day I could easily stay with the Co-op I just feel a quite peeved that I have turned a corner in my finances but my own bank, who I thought was very customer focused is not being supportive.

Rafter

doobadog,

Call up co-op and say you have damaged your electron card. They will issue a new one which is now a visa debit card which seems to be much more widely accepted.

Surprised you havn't had one yet anyway.

As others have said, once that Capital One 'error' is sorted out, don't see any reason why you shouldn't get a full current account as long as your income is reliable.

You might come up a 'computer says no' issue with co-op though if you have had poor credit or any account management issued with them in the past.

Good luck

R.