First Direct rejection - Too many current accounts?

sajets

Hey
I applied for a first direct current account and savings account and got a rejection letter saying that my application was rejected because I did not clear First Direct's "internal hurdles" and not because of a bad credit rating.
Is it possible that I got rejected because I already have 4 current accounts (RBS, Barclays, Alliance & Leicester/Santander, and Abbay/Santander) as well as a number of savings accounts? I chose not to use their easy swich service, in case that makes a difference.

There is some activity on all four of the accounts and I have a regular income above the required minimum for the FD account.

Is there any benefit in keeping both the Alliance & Leicester and the Abbay/Santander account? I am considering closing one of the accounts (got to keep the Santander account because I got avings accounts with them).

Thanks

Cmdr_Bond

I presume those must be fixed savings then? otherwise I would have said ditch Santander altogether.

Dr_Cuckoo3

sajets wrote: »

Hey
I applied for a first direct current account and savings account and got a rejection letter saying that my application was rejected because I did not clear First Direct's "internal hurdles" and not because of a bad credit rating.

Did the letter actually use the words "internal hurdles" ?

sajets wrote: »

Is it possible that I got rejected because I already have 4 current accounts (RBS, Barclays, Alliance & Leicester/Santander, and Abbay/Santander) as well as a number of savings accounts

No , that wasn't the reason

izools

I don't think too many accounts put FD off as long as they're run well as my mother was accepted for a FD account & credit card last week despite having five credit cards and four store cards elsewhere with cumulative credit limits of about 75% her annual income.

Will have been something else I imagine.

sajets

The letter said "you were unsuccessful [...] as your details did not meet our account opening criteria".

I do not have any problems with my other accounts, had two fines in four years because a direct debit was not covered but I paid the fines. No credit cards, but a pending credit card application (CC company requested certified copy of ID).

Called FD and say that it should not make a difference if I choose not to have my DDs and SOs transferred from my current current account.

Could it be the pending credit card application?

glider3560

What is your annual income?

izools

It wouldn't be the pending CC application, no.

How long have you been with your current employer and at your current address? How long ago did you last get a bank charge? Are you registered to vote at your current address?

Most importantly - have you checked your credit file to see if everything is correct?

sajets

I am a higher rate taxpayer.

1.5 years with my employer and at this address, registered to vote. The first bank charge was about 3 years ago, the most recent one (£8) was two months back.

I have not checked my credit rating because I have no credit card or overdrafts in use (I may have overdrafts that come with accounts) and my bills are paid on time. The FD letter said "when completing our assessments, we also approach a credit reference agency called Experian Limited and I can confirm that no adverse information was held against you by this agency."

glider3560

Did you answer yes to "Will your salary be paid into your first direct 1st Account?"

izools

How peculiar...

All I can suggest is to try again in six months time.

sajets

Yes, I ticked the box as I wanted to get the £100 opening premium (and the 8% reg saver)