I've been refused a Current Account

MoneySaverForever

Hello everybody, I'm a little upset today if I'm honest because I've just been refused a Current Account with my bank. The reason I even bothered to apply for one was because the customer advisor said I was an "ideal candidate" for it and that my internal score with the bank was very high. I think it was a three, apparently this is very good. They also said I should have been "upgraded" a long time ago but that's never happened. I've never had problems with credit or debt in the past (or present) because I've always been very careful with my money. I don't have many credit accounts but the ones I do have are all in excellent standing and there's never been any problems there either.

I was told earliy today by telephone that my application had been declined due to something "adverse" showing up on my file and I was then asked for all my previous addresses which I quite freely gave because there's only one other where I've lived and that's with my parents. The advisor then went away and called me back again ten minutes later to say my application couldn't be processed because of what they'd found on my file but that he and the lady dealing with my application were very surprised because they said I was a very valued customer by the bank and that it would be a good idea to check with Equifax and Experian for anything negative which may stop me from getting credit.

You can probably guess I was a little worried in case some sort of fraud had taken place against me but after checking with both of the those credit agencies, I can't find anything negative on my credit report and every single box is green with the word "excellent" where relevant too. Can you explain this? I have three active accounts and three "settled" accounts and there's nothing bad on any of these. I have a lifetime of green dots showing up and everything on my credit file is in order which is a great relief but still, why would I have been turned down? I wish I hadn't bothered applying now, serves me right for agreeing. I think this is the second time because when I first applied for a bank account I was refused the full one and had to get the basic one instead

Thank you for your help xxx

stclair

The best thing to do in your circumstances is to get a copy of your credit report for all 3 CRAs and establish what the issue maybe.

You may have an excellent internal credit rating however externally may be a different story.

MoneySaverForever

stclair wrote: »

The best thing to do in your circumstances is to get a copy of your credit report for all 3 CRAs and establish what the issue maybe.

You may have an excellent internal credit rating however externally may be a different story.

Hi, thanks for this. I've checked with Callcredit now too and there's nothing bad on my credit report with any of the agencies I've used. I don' understand why my account has been refused, maybe I'm just not good enough? It's a little bit frustrating to be declined after sitting in the branch and going through the application with the advisor.

Enjoy the evening! xxx

stclair

Well if there all okay you should print of your reports and take them in branch and ask them to appeal your application for you.

jen245

Do you have any financial associates on your credit reports? Any joint accounts past or present with anyone?

cbassno3

Maybe look to open a new account elsewhere? If your current bank has declined your application it doesn't mean everyone will? It's a competitive market so plenty of options out there for you.

chuckley

get a basic elsewhere.