Halifax... Part of Lloyds Banking Group??

YorkshireBoy

So will the account closures cost you money, in terms of poorer rates? If so, then maybe you were hasty.

If the rates are the same, then all it's cost you is time and trouble...plus a bit of interest lost whilst transferring?

If the rates are better elsewhere, then why didn't you move before?

At the end of the day though, as has been pointed out, it's a bit like sacking your window cleaner because the dustbins didn't get emptied last week.

A_Flock_Of_Sheep

YorkshireBoy wrote: »

So will the account closures cost you money, in terms of poorer rates? If so, then maybe you were hasty.

If the rates are the same, then all it's cost you is time and trouble...plus a bit of interest lost whilst transferring?

If the rates are better elsewhere, then why didn't you move before?

At the end of the day though, as has been pointed out, it's a bit like sacking your window cleaner because the dustbins didn't get emptied last week.

Lloyds are ripping the bottom out of Vantage soon anyway and their rates on other savings products aren't that special either so I guess a review of all my accounts is due soon.

JuicyJesus

A_Flock_Of_Sheep wrote: »

Halifax seemed pretty hasty in saying "no" though!

Lloyds had nothing to do with it though, as opinions4u explained. Halifax and LTSB's credit decisions are independent of each other.

You're not even shooting the messenger. You're shooting the messenger's cousin. And then yourself, seeing as you now have to rearrange all your banking and such.

pmduk

Why did you go for the Halifax card rather than one with Lloyds? If the Halifax card has better terms eg interest and premiums, it's likely that they have different criteria for acceptance, hence your rejection.

Saints2011

YorkshireBoy wrote: »

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.

Not for much longer.

iereboy

The information is in no way fully shared at the moment.

Once the front line systems get fully integrated (partially integrated at the moment with a few problems) , it will be.

Changes have been made slowly. Products are being stream lined as well. Halifax is raising the price of Ultimate reward account. Lloyds and the AA have a good relationship and hence home start is being included with the Halifax Ultimate reward Account. Saving rates are being displayed on the Lloyds internet banking website now - something they nicked of the Halifax.

There are more changes to come.

pinkdalek

Maybe you were declined a Halifax card because they are part of the same group and their policy may be you can only have one type of credit card. - I don't know. How this relates to HBOS being bailed out by Lloyds I don't get your point of view.

You say about HBOS going "down the pan" back in 2008 and how Lloyds helped them out. Well it was the government that "helped" the takeover go through, the government now that wants to break up the same bank as it no longer convenient.

Had HBOS gone "down the pan" in 2008 then the country itself would be in even more of an economic mess than it currently is as the government would not have been able to bail out the 20 million HBOS customers who would have suffered as a result under the FSCS.

Halifax declined you a credit card, get over it.

paulmcerlean

pinkdalek wrote: »

Maybe you were declined a Halifax card because they are part of the same group and their policy may be you can only have one type of credit card. - I don't know. How this relates to HBOS being bailed out by Lloyds I don't get your point of view.

You say about HBOS going "down the pan" back in 2008 and how Lloyds helped them out. Well it was the government that "helped" the takeover go through, the government now that wants to break up the same bank as it no longer convenient.

Had HBOS gone "down the pan" in 2008 then the country itself would be in even more of an economic mess than it currently is as the government would not have been able to bail out the 20 million HBOS customers who would have suffered as a result under the FSCS.

Halifax declined you a credit card, get over it.

This is NOT why the OP was declined. Completely wrong. No such policy exists as the product lines are independent of each other.

OP, Lloyds offered you a card based on your account internal score, Halifax did not use this, and judged you as per a standard customer and decided you did not meet the requirement for a card.

Simple as.

Dont blame Lloyds however.

pinkdalek

I am not blaming Lloyds, just trying to suggest to the OP why they may have been declined a credit card in the first place.

My other point was how does being declined a credit card by the Halifax somehow link with Lloyds taking them over?

Obviously declined Halifax's own credit scoring seeing as they were offered a 0% M&S card.

M_Thomson

opinions4u wrote: »

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.

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.

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).

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

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.

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.

Interesting. Do you have a source for this? Not to be flippant, but I find it very hard to believe.