Halifax student account denied with 999 credit score?

mantisinc_123

Hi guys,

In my second year of uni, and I've applied for a student account with Halifax. They ran a credit check, and sent me a letter with the results.

Letter stated that they were unable to offer me an account due to a "total credit score below the accepted amount". However, I then got an experian credit check, showing my score as 999. No debits, no overdrafts, no arrears, etc.

Any ideas why they could have denied me? I'd ring them now but they are closed.

Thanks in advance guys.

Saints2011

mantisinc_123 wrote: »

Hi guys,

I then got an experian credit check, showing my score as 999. No debits, no overdrafts, no arrears, etc.

The experian credit score 999, counts towards nothing they are not lending you any money, are you on the Electoral Roll?

Any previous credit commitments? Even if thats a mobile phone contract? If you havent this maybe working against you as they cannot see any solid credit history?

Also worth checking with Equifax and CallCredit free trials.

[Deleted User]

Also, remember that a credit score of 999 isn't between 998 and 1000. It's a code number meaning there isn't enough data on you to actually score you.

JuicyJesus

billbennett wrote: »

Also, remember that a credit score of 999 isn't between 998 and 1000. It's a code number meaning there isn't enough data on you to actually score you.

And that the scores Experian sells you are functionally useless, as every lender scores you differently.

gsmmad

mate its because your in year 2.

if you pop into branch and say u want to transfer an existing student account, i think that would be fine

Paul_Herring

billbennett wrote: »

Also, remember that a credit score of 999 isn't between 998 and 1000. It's a code number meaning there isn't enough data on you to actually score you.

That's the first time I've actually seen that assertion (not that it would surprise me) - where did you get it from?

MrsManda

I presume you must have a bank account already. Do you have your account with Halifax?
Are you on the electoral roll?
Do you have a student account elsewhere?
Did you apply online or in the branch?

mantisinc_123

Thanks for the replies guys.

The reason for opening an account now is because I've got a little short on money, so an overdraft would be great. I explained this to the lady in branch and she said that was absolutely fine.

I do indeed have a vodafone contract (£35 a month), never missed a payment on that. I also have a barclays account with lots of ingoings and outgoings, again, never missed a payment on that. Also paying car insurance by direct debit on my other account as well.

So I've got a couple of credit commitments that I've never abused or missed a payment on.

I rang Halifax and they said they couldn't tell me why I was denied, I'd have to ring Experian. I didn't believe the lady I spoke to, so I rang again and spoke to someone else - he told me the same. They literally couldn't tell me a thing.

Been trying to call Experian on 08444818000 but every option I choose simply tells me to visit the website, I can't get through to an actual person.

Rather frustrating all in all!

Lokolo

I wouldn't bother with Experian.

Why Halifax? Why not another place? They all offer overdrafts (0%). But obviously it's very late in the year to be getting a student account anyway.

mantisinc_123

The reason I rang experian was because the letter I got saying I was declined told me to, and the people I spoke to on the phone said the only thing I could do was ring experian and they would tell me why I was declined.

Well, I got through to experian, and the very helpful man said there was absolutely nothing on there that would cause me to be turned down to get a student account.

Very odd indeed.

I've printed off my score and report and he said to take it into branch, as this has helped quite a lot of people as proof. Still dubious though.

Why Halifax? Why not another place? They all offer overdrafts (0%). But obviously it's very late in the year to be getting a student account anyway.

Simply because they had a good overdraft facility (I applied to upgrade my Barclays account to a student account with an overdraft, they said the maximum I could inititally get was £250 - Halifax told me £1,000), and lots of people reccommended them to me - including Martin Lewis ofc

Also, I'm on a 4 year course, so realistically I'm not even half way through the course (in my second year). So shouldn't really make a difference that I'm applying now.

Lokolo

mantisinc_123 wrote: »

Simply because they had a good overdraft facility (I applied to upgrade my Barclays account to a student account with an overdraft, they said the maximum I could inititally get was £250 - Halifax told me £1,000), and lots of people reccommended them to me - including Martin Lewis ofc

Also, I'm on a 4 year course, so realistically I'm not even half way through the course (in my second year). So shouldn't really make a difference that I'm applying now.

Just because it's the maximum, doesn't mean you'll get it.

There was a vote on MSE in student section where it asked how much people got from Halifax, the average was just the same as every other bank. Very few people for the full £3k overdraft.

And it will make a difference to the bank. It's halfway through the year, you're applying for an account - its clear that you need the money. Banks don't make profits from giving out 0% overdrafts. They are a business. A business is there to make profit

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Honestly - if Halifax rejected you, just go elsewhere. You could have another student account by now and saved some pennies from having to phone and go back into town etc.