Applying for a Current Account and facing rejection!?

Carpi10

meer53 wrote: »

It would be quicker to phone them to complain, they're a telephone bank,writing a letter will just delay any investigation as to why you've been declined.

I have phoned them, they have stated that I will be receiving a letter as to why they have declined the account. They told me to ring them again when the letter is received and then they will deal with the complaint.

I do not want to wait for this letter to arrive, I haven't got time to wait around for letters, I'm extremely busy with work.

I'd rather get the complaint to HO in writing, to ensure it is read by someone important and not just some customer service representitive.

But thank you for your suggestion.

jen245 wrote: »

They may be the same group, but they have different criteria. First Direct cherry pick their customers. I also think you are wasting your time appealing

I am not wasting my time. Why should i be rejected, I have the criteria, it's just unfortunate that my credit rating is not showing good enough for some unknown reason.

qpop wrote: »

jen245 I can almost guarantee that his account will be opened as a result of that letter.

carpi I recommend addressing it personally to the FD CEO (in transition currently but address it to Matt Colebrook).

People don't half talk a load of rubbish on internet forums..

FD are a picky bank that's true, but a well managed car loan is well within the bounds of acceptable expenditure; to decline a current account application on that basis is craziness.

I also happen to know that FD have a great credit services department, very thorough, so they will look into it properly if the complaint gets looked at (which it should)

For the record I haven't worked for FD.

Thank you very much. It will be posted shortly.

Qpop, you wouldn't happen to know an email address to send this complaint to aswell?

premierfella

On the seperate but related issue of not being on the electoral roll, this is very likely to have a notable impact on the credit score when your applications are being processed. I don't pretend to be an expert on credit scoring or the electoral roll process for HM Forces, but moving around all the time does not prevent you registering and may help when you when you return to the UK next year.

A web search took me to this:
https://www.aboutmyvote.co.uk/register_to_vote/armed_forces/registration_forms_armed_force.aspx

jalexa

Carpi10 wrote: »

Suggestions!?

Yes. Perhaps I have to be cruel to be kind, or rather helpful, but for starters I would suggest you engage your military attention to detail, display a positive mental attitude, formulate a plan and execute it.

OK, for starters, you said something like you "satisfied the criterion". Maybe, but the issue is not what *you* think but what the lenders think. Sadly, the reality for reasons unknown, and hopefully correctable, is that multiple lenders don't believe you satisfy *their* criterion. Unfortunately you have gone down the spiral of multiple applications which simply makes each subsequent application less likely to succeed.

I strongly recommend you play a long game and focus on your return.

One other thing you said which frankly doesn't make sense, you said Halifax didn't have a branch locally so you wanted to apply to First Direct. A bank with no branches?

OK, next. If you have not already done so you should obtain your Experian and Equifax credit reports. A single statutory report costs £2. Although I fear they will indicate a fragemented residency history, (if so) you will begin to see your application as the lenders see it.
Anyway you need to go through the report with a military fine tooth-comb looking for errors and omissions. You will need to keep me right here but where do military people register to vote? Electoral registration and residency history (taken together) is quite important to lenders decision making.

Looking at the report(s) can you see how maybe it could be improved going forward? You can't be alone (even in your unit) in facing this residency issue.

To repeat what I advised earlier, given your rejection history quit applying until you return and perhaps then focus on a less demanding bank with a convenient branch presence and seek to transfer your current account. Alternatively maybe you already have a perfectly good current account (actually you do) and you could make more of online banking.

Be positive, formulate a plan and execute it.

meer53

Any letter addressed to a CEO regarding a complaint will be passed on a Customer Relations Department to deal with. Addressing it to the CEO doesn't mean it will be dealt with any quicker, FD don't have a Head Office, everything is dealt with from their Leeds office. Premierfella is right, not being on the electoral roll will have an impact but there could be other reasons why you've been declined, have you checked your credit file ? The Vanquis card may also ring alarm bells.

Beki88

I just wanted to add in about the credit cards in case you were not aware:
"I have applied for credit cards simply to try and raise my so called credit rating but am still faced with rejection"
If you have applied for a lot in a short space of time and been turned down this will look badly on your report.

Carpi10

jalexa wrote: »

Yes. Perhaps I have to be cruel to be kind, or rather helpful, but for starters I would suggest you engage your military attention to detail, display a positive mental attitude, formulate a plan and execute it.

OK, for starters, you said something like you "satisfied the criterion". Maybe, but the issue is not what *you* think but what the lenders think. Sadly, the reality for reasons unknown, and hopefully correctable, is that multiple lenders don't believe you satisfy *their* criterion.Unfortunately you have gone down the spiral of multiple applications which simply makes each subsequent application less likely to succeed. Good advice, thanks.

I strongly recommend you play a long game and focus on your return.

One other thing you said which frankly doesn't make sense, you said Halifax didn't have a branch locally so you wanted to apply to First Direct. A bank with no branches? HSBC is close by and they are connected so would be able to use them should i require a branch. Please don't ask why I haven't applied for HSBC instead. Thanks

OK, next. If you have not already done so you should obtain your Experian and Equifax credit reports. A single statutory report costs £2. Although I fear they will indicate a fragemented residency history, (if so) you will begin to see your application as the lenders see it. I already have, it made me aware that i wasn't on the Electrol list, maybe i haven't taken this seriously, i will get this in the post ASAP.
Anyway you need to go through the report with a military fine tooth-comb looking for errors and omissions. You will need to keep me right here but where do military people register to vote? Electoral registration (and residency history) taken together is quite important to lenders decision making.

Looking at the report(s) can you see how maybe it could be improved going forward? You can't be alone (even in your unit) in facing this residency issue.

To repeat what I advised earlier, given your rejection history quit applying until you return and perhaps then focus on a less demanding bank with a convenient branch presence and seek to transfer your current account. Alternatively maybe you already have a perfectly good current account (actually you do) and you could make more of online banking.

Be positive, formulate a plan and execute it.

Thanks for your advice.

meer53 wrote: »

Any letter addressed to a CEO regarding a complaint will be passed on a Customer Relations Department to deal with. Addressing it to the CEO doesn't mean it will be dealt with any quicker, FD don't have a Head Office, everything is dealt with from their Leeds office. Premierfella is right, not being on the electoral roll will have an impact but there could be other reasons why you've been declined, have you checked your credit file ? The Vanquis card may also ring alarm bells.

I only recently applied for the Vanquis card, this was after all other rejected applications. Thank you for your input.

Beki88 wrote: »

I just wanted to add in about the credit cards in case you were not aware:
"I have applied for credit cards simply to try and raise my so called credit rating but am still faced with rejection"
If you have applied for a lot in a short space of time and been turned down this will look badly on your report.

I did know this, thank you. I was told that in order to raise my credit rating, i would need some sort of credit ie a credit card.

Thanks

I will apply to get on the electrol list.
Stop applying for credit cards. Frustrating thing is, i don't even need a credit card. :eek:

Thrugelmir

jen245 wrote: »

They may be the same group, but they have different criteria. First Direct cherry pick their customers. I also think you are wasting your time appealing

There is no automatic right to having a current account with a particular bank. Ulimatelty it is a business transaction. There is no right of appeal if an application is refused.

Current accounts cost the banks money to run. Following the crash of 2008 along with subsequent bank charges and PPI fiascos retail banking has become a lot less profitable. So unless the potential customer hits the target profile of the type of customer that the bank wishes to deal with. Then refusal is increasingly likely.

Banks need to recoup the cost of running current account services. So I wouldn't be surprised that over time the introduction of fee based accounts becomes increasingly common. The UK is very unique in having free banking, in most other countries customers pay a fixed fee just for having the account.

opinions4u

For me the following are key issues:

1) Not on voters roll.

2) Multiple credit card applications in a short period of time.

3) Address instability.

Credit scoring systems can and do discriminate against armed forces personnel. Like it or not, squaddies are statistically more likely to default a current account than a clerk in the local council. But that doesn't mean they all get declined.

You can access your Halifax accounts via the Post Office.

http://www.postoffice.co.uk/portal/po/content1?catId=19700174&mediaId=19900195

Carpi10

Thank you,

I recently paid for a Credit Report check and all seems to be in order. A total score of 752/1000, which to me, seems decent.

It also mentioned several credit cards that i should be 80% successful at. Although this didn't seem to be the case.

The only negative i could find was the fact i wasn't on the Register, all other points mentioned were having a positive reflection.

I have registered to be on the list so hopefully, give it a year and all should be well.

Thanks everyone.

exel1966

Carpi10 wrote: »

Thank you,

I recently paid for a Credit Report check and all seems to be in order. A total score of 752/1000, which to me, seems decent.

It also mentioned several credit cards that i should be 80% successful at. Although this didn't seem to be the case.

The only negative i could find was the fact i wasn't on the Register, all other points mentioned were having a positive reflection.

I have registered to be on the list so hopefully, give it a year and all should be well.

Thanks everyone.

To you your score of 752 may seem decent, to everyone else including potential creditors, we all know that those figures are meaningless and just a marketing gimmick !
Also do not believe that you you'll be 80% successful obtaining the named cards, it simply doesn't work like that !