Lloyds CPD marker automatically drops off ?

Saints2011

It's updated monthly that's all I can say..

Cash_Flow

izools wrote: »

Automated. The neural-net credit scoring employed by LTSB is somewhat a dark horse - there seems to be no one capable of manually intravening or explaining (beyond the use of guesswork) why things happen.

Believe me, when I was with them I followed all routes fathomable, and then some. Their inability to answer the simplest questions about this sort of thing by any means other than holding a seance is what prompted me to leave them.

HSBC are very up front about the whole thing.

Applied oct. last year, called them up when I was approved, they said I could have a £1,000 OD which I took and was applied.

Now they are able to tell me my lending limits for each product and account behaviour score, what they take in to account, chances of approval, etc.

LTSB, however, and this is really weird, advised me early last year I had pre-approved limits set for Overdraft (£1,750 at the time), Credit Card (£3,800 at the time) and Loan (Can't remember the amount) - but that they couldn't provide any of the products because of the CPD.

So what is it, do I have pre approved limits or am I pre-declined? Seemed to be both. To hell with them...

The customer support unit have the ability to manually place a CPD marker on your account profile.

A lot of people don't realise that a quick call to the customer support unit for help with their finances can result in a CPD.

MoneySaverLog

Cash_Flow wrote: »

All being well the CPD marker should be removed in October 2012 - one word of warning though don't use your current account for gambling.

Does that include having the odd £5 added to my online lottery account too? I hope not!

Cash_Flow

MoneySaverLog wrote: »

Does that include having the odd £5 added to my online lottery account too? I hope not!

I would not of thought so, But spending 1k a month on Betfair is probably going to trigger something.

izools

Cash_Flow wrote: »

The customer support unit have the ability to manually place a CPD marker on your account profile.

A lot of people don't realise that a quick call to the customer support unit for help with their finances can result in a CPD.

How do you know this? Because to be honest it sounds like everything else LTSB told me - stuff they'd been told or overheard (incorrectly) from a colleague that isn't actually the case.

Have you physically seen the process of adding a CPD manually to a customer's account in live action?

MoneySaverLog

I'm wondering if indirectly it may have something to do with what the customer rep does with the account, that may result in a CPD marker. e.g. Customer rep does a credit search at a credit reference agency, negative data is returned and computer flags up a CPD next time round.

As opposed to rep putting the CPD marker on directly themselves.

Cash_Flow

izools wrote: »

How do you know this?

In 2003 I had a CPD99 manually applied to my customer profile as a result of refinancing my existing borrowing with Lloyds.

izools wrote: »

Because to be honest it sounds like everything else LTSB told me - stuff they'd been told or overheard (incorrectly) from a colleague that isn't actually the case.

To be honest you spend way too much time worrying about the lending policies of lenders.

izools wrote: »

Have you physically seen the process of adding a CPD manually to a customer's account in live action?

No.

Cash_Flow

MoneySaverLog wrote: »

I'm wondering if indirectly it may have something to do with what the customer rep does with the account, that may result in a CPD marker. e.g. Customer rep does a credit search at a credit reference agency, negative data is returned and computer flags up a CPD next time round.

As opposed to rep putting the CPD marker on directly themselves.

My knowledge is based on my experience of dealing with the customer support unit - If you call them and explain that you are struggling with your borrowing they don't need to credit search you - It is in the banks interest not to lend you any MORE money.

The customer support unit have the power to refinance your borrowing when the computer said No - they also have the power and responsibility of protecting the banks commercial interest by way of a CPD99 marker.

MoneySaverLog

I agree, though I doubt they have the decision making authority on a call centre to make those decisions. I suspect a computer is involved in deciding based on what the customer rep puts into the computer. I used the CRA as an example, this could also be based on internal data e.g. the customer wants to extend a overdraft, where they are clearly overcommitted or asking for another debt consolidation loan etc.

Just examples, and don't know what would "flag up an account" but guessing the above 2 might send something to the computer to investigate further and flag up a CPD

Cash_Flow

MoneySaverLog wrote: »

I agree, though I doubt they have the decision making authority on a call centre to make those decisions. I suspect a computer is involved in deciding based on what the customer rep puts into the computer.

Why do you doubt their authority?

MoneySaverLog wrote: »

I used the CRA as an example, this could also be based on internal data e.g. the customer wants to extend a overdraft, where they are clearly overcommitted or asking for another debt consolidation loan etc.

Just examples, and don't know what would "flag up an account" but guessing the above 2 might send something to the computer to investigate further and flag up a CPD

Seems logical to me.