Halifax... Part of Lloyds Banking Group??

A_Flock_Of_Sheep

I am with Lloyds Bank and have the Vantage account with them and also significant other savings.

I applied for a Halifax Credit Card as it was offering 12 months 0% on purchases. Lloyds offered me a card automatically but the 0% deal was just 3 months on purchases.

I was declined by Halifax for their card!! I am quite miffed as they are part of the Lloyds Banking Group.

Now correct me if I am wrong but Halifax were going down the pan some time back and if it wasn't for Lloyds (and those that save with them etc etc) then they would have gone kaput!

I went into Lloyds branch Friday and asked to close all my accounts with them after many many years. When asked why I said because Halifax rejected me for a Credit Card and yet they should be grateful for Lloyds Bank and its customers for keeping them alive.

The adviser told me not to be too hasty and will look into it for me. That said I applied yesterday for a M&S card and got a longer 0% period anyway - but that's not the point!

YorkshireBoy

A_Flock_Of_Sheep wrote: »

Now correct me if I am wrong but Halifax were going down the pan some time back and if it wasn't for Lloyds (and those that save with them etc etc) then they would have gone kaput!

You're very wrong! Government involvement is what saved both Lloyds and HBoS.

The adviser told me not to be too hasty and will look into it for me.

Do you think, seriously, that a Lloyds banking advisor is going to be able to get a BoS lending decision overturned?

A_Flock_Of_Sheep

YorkshireBoy wrote: »

You're very wrong! Government involvement is what saved both Lloyds and HBoS.Do you think, seriously, that a Lloyds banking advisor is going to be able to get a BoS lending decision overturned?

Don't know - we will have to wait and see

Still odd to me how Lloyds offer me a card but Halifax part of the same group do not. I targetted them due to being part of the same group. But M&S who aren't part of Lloyds AFAIK give me a card.

The credit lottery I guess!

ffacoffipawb

YorkshireBoy wrote: »

You're very wrong! Government involvement is what saved both Lloyds and HBoS.

Government involvement pretty much destroyed Lloyds TSB by practically forcing it to take over the basket case HBOS plc.

The rest is history. But at least that godawful Government has gone. Ideally they should be in the dock. Gordon the moron has a lot to answer for.

YorkshireBoy

A_Flock_Of_Sheep wrote: »

Still odd to me how Lloyds offer me a card but Halifax part of the same group do not.

Well for a start, you bank with Lloyds, and that goes a long way in terms of 'internal' credit rating.

Secondly, they may well have different underwriting criteria.

Thirdly, they do not (as far as I know) currently share account information across the group, so Halifax based their decision solely on the contents of your CRA file...and not on any account conduct/throughput as Lloyds did.

A_Flock_Of_Sheep

YorkshireBoy wrote: »

Well for a start, you bank with Lloyds, and that goes a long way in terms of 'internal' credit rating.

Secondly, they may well have different underwriting criteria.

Thirdly, they do not (as far as I know) currently share account information across the group, so Halifax based their decision solely on the contents of your CRA file...and not on any account conduct/throughput as Lloyds did.

And M&S based their decision to give me card offering 15 months 0% on what? The fact I purchased 3 skirts there is 2005?

YorkshireBoy

A_Flock_Of_Sheep wrote: »

And M&S based their decision to give me card offering 15 months 0% on what? The fact I purchased 3 skirts there is 2005?

They do seem to favour the fairer sex.

But I suspect you were right in your earlier post...it's a credit lottery.

Just out of interest, do you have a Sainsburys credit card at the moment, or any other card run by BoS? Or have you had one recently?

hcb42

different underwriting criteria.

opinions4u

A_Flock_Of_Sheep wrote: »

Halifax... Part of Lloyds Banking Group??

Lloyds Banking group own Lloyds TSB, Cheltenham & Gloucester, Halifax, Bank of Scotland, Birmingham Midshires, Intelligent Finance, Scottish Widows, Scottish Widows Bank and a few other bits and bobs here and there.

Lloyds TSB and HBOS remain separate legal entities, despite having one overall owner - LBG.

They also operate under different banking licences, Lloyds TSB and Bank of Scotland (amongst others) for FSCS protection.

I was declined by Halifax for their card!! I am quite miffed as they are part of the Lloyds Banking Group.

They operate as different entitites. Despite one ultimate owner, they are different organisations with different terms and conditions for their products and different underwriting criteria. One key here is that HBOS as a legal entity pays more to raise money than Lloyds TSB does. This pushes the credit threshold higher, leading to a tighter underwriting criteria. They will not be taking any internal score from Lloyds TSB in to account for a Bank of Scotland lending decision.

Now correct me if I am wrong but Halifax were going down the pan some time back and if it wasn't for Lloyds (and those that save with them etc etc) then they would have gone kaput!

Sort of correct. If Lloyds TSB hasn't stepped in and bought HBOS, Bank of Scotland Corporate would have gone kaput and the taxpayer would have ended up standing the losses which were staggering. The Halifax and Bank of Scotland branch network, call centres and internet operations for retail customers (the likes of you and me) remained profitable throughout. Halifax and BoS would have survived, doubtless owned by some Spanish operation (more likely BBVA than the other lot).

I went into Lloyds branch Friday and asked to close all my accounts with them after many many years. When asked why I said because Halifax rejected me for a Credit Card

My own view is that you are being petty. There appears to be a cutting off nose job going on here.

and yet they should be grateful for Lloyds Bank and its customers for keeping them alive.

Many HBOS staff who are now part of LBG would consider themselves to be working in a very different world these days. One that is yet to learn that staff enjoying their work are more productive. I believe 25,000+ jobs have gone as a result of the "merger". Those people won't feel that Lloyds Bank kept them alive.

The adviser told me not to be too hasty and will look into it for me.

I have no idea what he can sort out for you on a Bank of Scotland credit card. That's most optimistic.

That said, your decision to end a banking relationship does seem hasty.

A_Flock_Of_Sheep

YorkshireBoy wrote: »

They do seem to favour the fairer sex.

But I suspect you were right in your earlier post...it's a credit lottery.

Just out of interest, do you have a Sainsburys credit card at the moment, or any other card run by BoS? Or have you had one recently?

No I don't have a Sainsbury's card. I didn't have any credit card at all. So that may be the answer.

I just want to buy some things 0% to save going into the savings for a lump sum!

I just went for the Halifax one as it is part of Lloyds but there you go.

I's have thought M&S would have rejected me to be honest as its a longer period and also I have never been with them.

A_Flock_Of_Sheep

opinions4u wrote: »

That said, your decision to end a banking relationship does seem hasty.

Halifax seemed pretty hasty in saying "no" though!