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Why do santander like me so much?
anchorless33333
Posts: 14 Forumite
in Credit cards
Hi. First post but been lurking for years!
I went BR 8 years ago. Got a coop cashminder and didn't even bother with credit for about 5 years. Then got a high interest catalogue and cheap mobile phone contract, made payments for 12months+, and applied for a current account with natwest... They turned me down straight away.
Few months later saw the £200 abbey current account switching offer, and thought I'd give it a go..got accepted straight away (to my surprise), with a £200 OD. :j
Thought I might be on the road to recovery so after a few months applied for a VANQUIS card...got rejected. Few months later tried for a NEXT directory..got rejected. Assumed Abbey had made some sort of mistake on accepting me for a current account with an overdraft and left it at that!
6 months later applied for VANQUIS again - rejected again!
Got accepted for a littlewoods catalogue, credit limit slowly went up to about 2k. Applied for a littlewoods personal loan - rejected
6 months later, applied for a capial one classic - got accepted but with a measly £200 limit. Got raised to £500 after a few months
6 months later, applied for a VANQUIS again - this time got accepted! but with a high rate and only £500 limit
My OD with santander (old abbey account) now stands at £800 (put it up myself online with no questions asked). I'm in my overdraft 3 weeks out of every month. I've gone over my limit a few times in the last 12 month and been charged a couple of times for returned direct debits etc
So..imagine my surprise when I went to pay in some cash the other day and the guy behind the counter said i was pre-approved for a santander 123 credit card with a 4k limit!!! (only about 8 months after VANQUIS declined me, and only 2 months after they finally accepted me on the 3rd time). When I enquired about a balance transfer he said i'd be better with the standard credit card for BT's so he would give me one of those as well if i wanted. When I enquired what the limit would be on that he said 4k as well!!
So I could have (but didn't!) walked out of the branch with 8k of credit that day! and its less than 12 months since I was DECLINED for a vanquis account?!? :eek:
Any idea why santander are being so generous to me? I would have said internal scoring as my current acc is with them, but my account conduct has been far from good (usually well into my overdraft, occasional charges etc) - the only money that goes in is my salary (c1.5k)
(There are no late payments/defaults/ccjs on my credit file btw)
I went BR 8 years ago. Got a coop cashminder and didn't even bother with credit for about 5 years. Then got a high interest catalogue and cheap mobile phone contract, made payments for 12months+, and applied for a current account with natwest... They turned me down straight away.
Few months later saw the £200 abbey current account switching offer, and thought I'd give it a go..got accepted straight away (to my surprise), with a £200 OD. :j
Thought I might be on the road to recovery so after a few months applied for a VANQUIS card...got rejected. Few months later tried for a NEXT directory..got rejected. Assumed Abbey had made some sort of mistake on accepting me for a current account with an overdraft and left it at that!
6 months later applied for VANQUIS again - rejected again!
Got accepted for a littlewoods catalogue, credit limit slowly went up to about 2k. Applied for a littlewoods personal loan - rejected
6 months later, applied for a capial one classic - got accepted but with a measly £200 limit. Got raised to £500 after a few months
6 months later, applied for a VANQUIS again - this time got accepted! but with a high rate and only £500 limit
My OD with santander (old abbey account) now stands at £800 (put it up myself online with no questions asked). I'm in my overdraft 3 weeks out of every month. I've gone over my limit a few times in the last 12 month and been charged a couple of times for returned direct debits etc
So..imagine my surprise when I went to pay in some cash the other day and the guy behind the counter said i was pre-approved for a santander 123 credit card with a 4k limit!!! (only about 8 months after VANQUIS declined me, and only 2 months after they finally accepted me on the 3rd time). When I enquired about a balance transfer he said i'd be better with the standard credit card for BT's so he would give me one of those as well if i wanted. When I enquired what the limit would be on that he said 4k as well!!
So I could have (but didn't!) walked out of the branch with 8k of credit that day! and its less than 12 months since I was DECLINED for a vanquis account?!? :eek:
Any idea why santander are being so generous to me? I would have said internal scoring as my current acc is with them, but my account conduct has been far from good (usually well into my overdraft, occasional charges etc) - the only money that goes in is my salary (c1.5k)
(There are no late payments/defaults/ccjs on my credit file btw)
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Comments
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vanquis are strange how they do and dont accept people, no logic at all. Abbey must be pushing things to get as much people in debt as possibleDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Probably as you said yourself you are well into your overdraft regularly and they hope you take out the 2 credit cards and regularly be well into them when the promotional rates end. Banks don't like lending/accepting people who play the game (stooze and tart) because they don't earn any money out of them? The way of the world i'm afraid!!!0
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You are deemed as a "good risk" based on the management of your bank account.
I.e. That they feel you are likely to make at least the minimum payment each month without defaulting.
Santander must be doing something right as they did not need taxpayer bailouts due to irresponsible lending, like RBS and Halifax.0 -
Same here! Got a Santander Current account when every other bank rejected me, got an O/D with an £800 limit (started at £50 but when I used the online facility to increase it myself I was able to get £800 no problem. Makes me wonder if they keep tabs on how much people increase their o/d by!!)...they haven't yet offered a credit card but I'm sure they soon will do!£170/£12,000
A long way to go but enjoying the challenge!
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Same here! Got a Santander Current account when every other bank rejected me, got an O/D with an £800 limit (started at £50 but when I used the online facility to increase it myself I was able to get £800 no problem. Makes me wonder if they keep tabs on how much people increase their o/d by!!)...they haven't yet offered a credit card but I'm sure they soon will do!
Staff members can see exactly how much OD you can get. Maximum overdrafts are decided monthly based on your account management.
Staff can also see pre-approvals for credit cards, loans and mortgages.0
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