Halifax student account denied with 999 credit score?

Lokolo

http://forums.moneysavingexpert.com/poll.php?do=showresults&pollid=4949

Heres the poll

mantisinc_123

Lokolo wrote: »

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

---

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.

I know I probably won't get the whole amount, but I would imagine I'd get more than I was told in Barclays. So I just decided to go into Halifax as of word of mouth.

And you're probably right I should just go elsewhere - just a bit !!!!ed off that they rejected me and noone can tell me why!

Those results are interesting, majority seem to have got £1-2k, which is just fine for me at the moment

paulmcerlean

Bringing in your experian credit score wont make a bog bit of difference as you have been declined. If it was because they deem your credit score to be too low, any reversal on this decision (unlikely) will only probably mean an account will be opened for you with NO overdraft. You really do need to credit score acceptably with them first time to get the account and more again to get the overdraft.

I'd try another bank as you will not get what you want from the Halifax now.

mantisinc_123

paulmcerlean wrote: »

Bringing in your experian credit score wont make a bog bit of difference as you have been declined. If it was because they deem your credit score to be too low, any reversal on this decision (unlikely) will only probably mean an account will be opened for you with NO overdraft. You really do need to credit score acceptably with them first time to get the account and more again to get the overdraft.

I'd try another bank as you will not get what you want from the Halifax now.

That's what I thought. But I just want to know why my credit score isn't deemed suitable (no arrears, no overdrafts, no missed payments, good credit history, etc).

I'll just check out some other good student overdrafts anyway, kinda had enough of messing around with Halifax.

Thanks for your help all.

jambosans

paulmcerlean wrote: »

You really do need to credit score acceptably with them first time to get the account and more again to get the overdraft.

Halifax suggest contrary:

Halifax wrote:

Automatically get a £500 interest-free overdraft when you open your account.

(link)

JohalaReewi

mantisinc_123 wrote: »

That's what I thought. But I just want to know why my credit score isn't deemed suitable (no arrears, no overdrafts, no missed payments, good credit history, etc).

It happens.

Read Martin's article...
http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Save money. Don't ring Experian on their 0844 number if you are paying the phone bill.
http://www.saynoto0870.com/

Don't pay Experian for their useless credit score.

mantisinc_123

JohalaReewi wrote: »

It happens.

Read Martin's article...Save money. Don't ring Experian on their 0844 number if you are paying the phone bill.


Don't pay Experian for their useless credit score.

Don't worry, I used their 0155 number

And didn't pay them a penny, used the free trial and cancelled today (y)

[Deleted User]

mantisinc_123 wrote: »

Don't worry, I used their 0155 number

And didn't pay them a penny, used the free trial and cancelled today (y)

experian or credit expert are sometimes nonsense since banks may use an internal scoring system

Paul_Herring

vinh1000 wrote: »

sometimes nonsense

Understatement methinks when talking about credit scores. Try always.

Experian don't even take into account some of the basic stuff other institutions always use. Like whether you have a job or not. Or how much you get paid. Little stuff like that.

The only money you should be paying to these companies is the £2 for the statutory reports. And then only if you can't get that information from a free trial.

clowe1

I have just received a letter saying they have turned me down for an ordinary current account for the same reason as yourself, and they have told me to contact experian if I want to know why. I already have a current account with them for 20 odd years - can't figure out why I have been turned down.