Santander preferred account declined

dillydally2096

Hi, I today received information that the reason I was declined was due to my credit rating, however after looking at my rating via experian I have a rating of 956. I was wanting to get the interest free overdraft of 2k (which I currently have with my current bank due to change very soon due to it stopping been a graduate account) I was wondering if there would be any other reason they would decline? I am slightly baffled. Also if I was to go into the bank and show them the rating is there an appeals procedure or are the bank likely to just say no?

Thanks

A

dillydally2096

The other thing worth mentioning is that I also have an ISA already with them, which I have been previously paying into

pmduk

Any lending organisation will use it's own internal rating system. The figure created by experian isn't worth a jot.

gnasher18us

The bank have looked at your credit history and have decided not to give you an account.

There's a multitude of reasons Santander could have declined you a bank account.

You may have gone over your overdraft limit as a student, or maxed out the credit cards. You may have missed a payment, in the past, or have 10 credit cards.

They wouldn't look at your ISA, as this is a savings account.

anotherginger

Santander also refused me a current account under similiar circumstances! I had 20K+ in an ISA with them at the time and was refused a current account. I checked with experian and there was nothing of note on there. I then phoned Experian to cancel the trial period and had a nice chat with the person there who the same had also happened to. She had another look at my report and said that it was likely because I didn't really use my credit card much, that I paid it in full every month, and it has a low limit (1K). I didn't bother to dispute it, so I transferred my ISA out and now thankfully have no ties to Santander.