A credit card with your own bank. Easier?

Leanne200

Hi all,

Does anyone know if applying for a CC with your bank that you hold your accounts with (ie, current,savings) makes it more likely that you will get one?

I have applied for M&S recently and been turned down and I really can't understand why as I only have one CC (as below) and I have a high credit score and a clear payment history, I am good with finances.

Anyway I bank with Halifax and have all of my accounts with them, so I am thinking of applying for the One card. Does anyone think I have more of a chance??

Thanks in advance!

sjc_2

Makes sense to me, I have recently took on a First Direct CC as I Bank with them, forgetting the 0% Offer for 6 Months which I don't need the benefit to me was when I went through my online Account to apply it stated I have a reserved and pre agreed Card available with a £6.4K Credit Limit which was more than enough for my need. The other major benefit is I can transfer the money from my Account which has an Offset Mortgage attached to it straight to the CC on the same day so don't have to lose 3 - 5 Days interest whilst my money moves from First Direct to say Barclaycard. Easier to manage as well.

Fahim_2

You should be able to get it as you bank with them and also for your score. When I got approved, my credit score according to experian was 629.

tom188

Not that this score means anything other than a very rough guess.

M_Thomson

Fahim wrote:

You should be able to get it as you bank with them and also for your score. When I got approved, my credit score according to experian was 629.

That score doesn't mean anything with regards to credit providers. It is designed by Experian as a quick way to lose £5 or £6. Each provider will have its own internal credit scoring which is kept confidential.

Fahim_2

M_Thomson wrote:

That score doesn't mean anything with regards to credit providers. It is designed by Experian as a quick way to lose £5 or £6. Each provider will have its own internal credit scoring which is kept confidential.

The score is just a idea of how likely you are to be accepted or not...just a numbering scale of ur credit status...

tom188

Fahim wrote:

The score is just a idea of how likely you are to be accepted or not...just a numbering scale of ur credit status...

Which hopefully the majority of people should be able to suss out themselves

Leanne200

Thanks for that, my alleged score is about 800ish.. I didn't think I would be turned down for the last 2 cards especially M&S so I am a bit wary.

Maybe I will call them tomorrow to ask and see what they say.

**purplemoon**

We have several cards between us, but we got the highest credit limits on cards from our own bank

PRINCE$$

Leanne200 wrote:

Hi all,

Does anyone know if applying for a CC with your bank that you hold your accounts with (ie, current,savings) makes it more likely that you will get one?

I have applied for M&S recently and been turned down and I really can't understand why as I only have one CC (as below) and I have a high credit score and a clear payment history, I am good with finances.

Anyway I bank with Halifax and have all of my accounts with them, so I am thinking of applying for the One card. Does anyone think I have more of a chance??

Thanks in advance!

Hopefully it will work for you but I have recently applied with my own bank (HSBC) and was declined despite the fact that I have banked with them for 4 years and had a credit card with them in the past which I never had any missed/late payments on.
I've been told in general it is easier though, this may be unusual.

realaledrinker

Well I have had four credit cards off my bank for stoozing purposes in the last four years, none of which generated a credit search. If your bank account is squeaky clean, I would suggest you will have a better chance. But then I work for the bank concerned so that might have had an influence.