Santander preferred Current Account

MWAUGH1983

Hi,

I went into santander today and they upgraded my first plus to the Preferred account complete with cheque book.

Was wondering if anyone could advise if this would advise that my current rating is acceptable in the eyes of santander? Would getting this account complete with cheque book be a good thing?

I know that there service is apparently garbish and I ain't looking for any comments thanks.

Cheers
Martin

simax

They upgrade accounts with no credit checks.

MWAUGH1983

simax wrote: »

They upgrade accounts with no credit checks.

Just the guy said that having a cheque book would be a good sign in terms of how they would view me.

gillianlouise

It would appear that in Santander view you have a good credit score and that especially given that they have also offered a cheque book you are a GOOD risk. Do you also have a multi-function card this is the debit card with raised digits? or a multi-function online card no raised digits? it should tell you on the sheet of paper with the persons name who opened the account. If it is the full multi function card this is better.
I would say if you have had problems in the passed you would be viewed as having improved your credit score to such a degree as to take a risk with you.
Santander are a good bank.:T

gillianlouise

A credit check is done with all credit type accounts. Whilst the customer is there.

MWAUGH1983

gillianlouise wrote: »

It would appear that in Santander view you have a good credit score and that especially given that they have also offered a cheque book you are a GOOD risk. Do you also have a multi-function card this is the debit card with raised digits? or a multi-function online card no raised digits? it should tell you on the sheet of paper with the persons name who opened the account. If it is the full multi function card this is better.
I would say if you have had problems in the passed you would be viewed as having improved your credit score to such a degree as to take a risk with you.
Santander are a good bank.:T

Thanks for the post!

It says 2 types of cards. VISA MFC ONLINE & DEBIT MFC ONLINE - would this sound good to you?

On the paper work it says that an overdraft couldn't be offered after consulting experian - what would you make of this?

Cheers
Martin

shaneshaneshane

I had that even with an excellent credit rating... no idea why lol

ses6jwg

If you had an "Instant Plus" account (not sure what a First Plus is), then you cannot upgrade this account.

They would have opened a brand new account with a new sort code and account number, debit card, cheque book. Can you confirm this?

If it was an "upgrade" (keeping your existing account number), then no formal credit check would have been carried out.

However, if it was a brand new account with a new number, a formal check would have been carried out. This would suggest your internal credit score is quite good, as the requirements on the preferred and reward accounts are quite high.

MWAUGH1983

ses6jwg wrote: »

If you had an "Instant Plus" account (not sure what a First Plus is), then you cannot upgrade this account.

They would have opened a brand new account with a new sort code and account number, debit card, cheque book. Can you confirm this?

If it was an "upgrade" (keeping your existing account number), then no formal credit check would have been carried out.

However, if it was a brand new account with a new number, a formal check would have been carried out. This would suggest your internal credit score is quite good, as the requirements on the preferred and reward accounts are quite high.

Yeah sorry I had the instant plus and they open up a completely new account complete with card, and cheque book.

Its nice to know that my credit is going into the right direction. Just the guy asked me to make another appointment as I said I wanted to move my loan with TSB and he said its a good sign so it might go through next saturday when I have the appointment.

Thanks for the advice!
Martin

simax

MWAUGH1983 wrote: »

Thanks for the post!

It says 2 types of cards. VISA MFC ONLINE & DEBIT MFC ONLINE - would this sound good to you?

On the paper work it says that an overdraft couldn't be offered after consulting experian - what would you make of this?

Cheers
Martin

It means you have the non-embossed VISA Debit cards coming your way (formally known as VISA Electron)

ses6jwg

Yeah they've sent you an online debit card which suggests your credit isn't *quite* there yet, but its on the way up to get accepted.

After a few months of managing the account well and avoiding any charges, its highly likely they will let you upgrade to a full debit card and offer an overdraft facility. This is going from experience.