Natwest Current Account. - Credit Check?

KingElvis

Natwest use the dreaded AVU who will soon chop your account down to size.

bcfc1710

My credit rating is/was poor, i open natwest step account in 2008, within 3 months they upgraded me to current account! Have since left them ans easily opened current accounts with santander and lloyds tsb.

united66

MichaelCR wrote: »

Best route,

Apply for the Natwest STEP ACCOUNT.

Manage this account well for 12-24 months, Then you will no doubt be offered an upgrade to the CURRENT PLUS account which includes Cheque Book, CG Debit card etc, And maybe an overdraft depending on your circumstances, If your credit is good after 18 months + Then i expect you'll be offered to apply for a credit card through them.

Basically, Start at the bottom, And work your way up

The Step Account is now classed as a Current Account and is credit scored aswell. Only the score required is a little lower due to there being no borrowing facilities. If you have defaults from recent years such as I have that are un-settled as of yet, then you will struggle to get any main street bank current account, wether it be a mobile phone contract or a defaulted 20k credit card. A default is a default. Lenders say no to defaults - trust me!

ShowMeTheMoola

united66 wrote: »

The Step Account is now classed as a Current Account and is credit scored aswell. Only the score required is a little lower due to there being no borrowing facilities. If you have defaults from recent years such as I have that are un-settled as of yet, then you will struggle to get any main street bank current account, wether it be a mobile phone contract or a defaulted 20k credit card. A default is a default. Lenders say no to defaults - trust me!

Hmm interesting. My credit history is not good at all. I have defaults with a number of companies and collection agencies, yet within the last 2 months alone i have obtained 2 current accounts and a new mobile contract (with an initial refundable deposit). I have only just submitted my details to the electoral roll dept, despite living at this address since 2008. Due to my recent success i really dont understand how companies come to the decision to accept or refuse. My only thought is that perhaps not everything i have defaulted with is on my file...

united66

ShowMeTheMoola wrote: »

Hmm interesting. My credit history is not good at all. I have defaults with a number of companies and collection agencies, yet within the last 2 months alone i have obtained 2 current accounts and a new mobile contract (with an initial refundable deposit). I have only just submitted my details to the electoral roll dept, despite living at this address since 2008. Due to my recent success i really dont understand how companies come to the decision to accept or refuse. My only thought is that perhaps not everything i have defaulted with is on my file...

Sorry to resurrect this thread, but I forgot I had wrote on it and wanted some more info on your post. You mention defaults with a number of companies and collection agencies, are these settled defaults or are they still outstanding? What banks did you get current accounts with?

pwuk

KingElvis wrote: »

Natwest use the dreaded AVU who will soon chop your account down to size.

King Elvis what is AVU? Why is it so dreadful?

I just opened an account with Natwest yesterday and thought it odd that the credit scoring was not done in front of me but was subsequently told that there was no issues with the credit checks.....

KingElvis

pwuk wrote: »

King Elvis what is AVU? Why is it so dreadful?

I just opened an account with Natwest yesterday and thought it odd that the credit scoring was not done in front of me but was subsequently told that there was no issues with the credit checks.....

It's the Accounts verification Unit and it's used by the RBS/Natwest group.

After your app has passed whatever credit score is needed, it's then passed to the AVU for "further checks" which is where loads of people get the boot, even after being told their account is open

Loads of people on here have had theis problem and some get quite fiesty about it........

I've never had a problem with Natwest, they are a great bank imo

jen245

KingElvis wrote: »

It's the Accounts verification Unit and it's used by the RBS/Natwest group.

After your app has passed whatever credit score is needed, it's then passed to the AVU for "further checks" which is where loads of people get the boot, even after being told their account is open

Loads of people on here have had theis problem and some get quite fiesty about it........

I've never had a problem with Natwest, they are a great bank imo

I agree, I have my main current account, and a savings account with them and haven't had any problems with them at all. IMO they are better than Barclays and A&L who I have previously banked with.

allpine99

i opened an account with natwest online last week its called current account plus i have poor credit rating and my application was succesfull i rang them and did application on the phone and gave me decision in 2 minutes i now have my debit card with cheque guarantee facility only thing i did not ask for when i applied was an overdraft facility. only down fall is when i checked my credit file they did two seperate searches on my credit file which dropped my score i have since mde a complaint to get one search removed as i only authorised the one search when i applied but they did another one a few days later after they had already confirmed i had been accepted .

pmduk

The second one would possibly have been the AVU doing their check?