Lloyds CPD marker automatically drops off ?

jackjones01

MoneySaverLog wrote: »

Personally I'd wait the 7 months and then apply, as a new customer it may get knocked back. But I agree there seems little consistancy with the CPD markers and how they get added.

I've been a customer of theirs since the year dot, starting out with a TSB account my dad opened when I was born, so a very long time. That probably helped with the 2nd and 3rd classic accounts being opened very recently and confirmation that my internal score was high enough to have a premier account with them if I wanted one, but I turned them down as I have no need for it.

Just to let you know I have made an application as was sucessful did not even have to provide any ID and they verified my details electronically. They offered me the select accounts accounts but I just said I only needed a classic account and was also offered a cheque book. As I was offered a cheque book but no overdraft does that mean I will have a CPD marker on my account?

MoneySaverLog

I've no idea, I guess it would have been safer to wait until the credit file was all green, that way they'd have had no idea and less likely to apply a CPD marker from the outset.

Just to put things into perspective, I have satisfied defaults all over my credit file and a old completed IVA still there for a couple of months. Yet they have given me full current account with £500 Over daft which I never use, offline debit cards and cheque books on 3 vantage accounts.

There seems very little consistancy with the CPD markers I guess as was told my internal score was a 1 last time I checked. Still I'm not complaining, they're a great bank in my opinion and have looked after me thoughout my IVA period and been with them since I was born and I'm stopping with them until such time they refuse me anything I reasonably ask for.

coolesticeking

jackjones01 wrote: »

Just to let you know I have made an application as was sucessful did not even have to provide any ID and they verified my details electronically. They offered me the select accounts accounts but I just said I only needed a classic account and was also offered a cheque book. As I was offered a cheque book but no overdraft does that mean I will have a CPD marker on my account?

It's a 50/50 chance and this depends on your commitments elsewhere that are listed on your credit file. If you have any form of bad credit such as unsatisfied defaults, then the CPD will be included because of this.

If you are a brand new customer and never used Lloyds TSB before they *may* apply the CPD until they see positive account conduct.

Again, if you do not have any form of bad credit and even if you do have the CPD - They do this quite a lot meaning they are happy to provide what they have given you now, but until they can at least see some account conduct from you they won't issue you with any further credit at this time.

One easy way to find out once you register for online banking to check if you have a CPD makrer is, log in and click on 'Upgrade Account' and then also click on 'Current Account' under apply and if you get BOTH (has to say BOTH not just one or the other)

"We are currently unable to upgrade accounts online. You can apply by phone on 08453 00 01 16. Lines are open Monday to Friday, 8:00am - 10:00pm; Saturday and Sunday, 8:00am - 6:00pm."

AND:

"Sorry, we can't offer you a secondary current account."

Then you have CPD 99 on your account.

jackjones01

I went into branch today and ask about the CPD markers. The woman checked my account a told me I have a CPD marker for loans and credit cards but NOT for overdrafts. When I asked when it was reviewed she said its done every month. Im not sure how true this is but she seemed really helpful at the time and seemed more than happy to help.

iereboy

CPD is applied throughout all lending products. Its not one rule for one product and another rule for another.

Your account is reviewed once a month around the 21st of each month.

CPD can take years to drop off sometimes.

jackjones01

iereboy wrote: »

CPD is applied throughout all lending products. Its not one rule for one product and another rule for another.

Your account is reviewed once a month around the 21st of each month.

CPD can take years to drop off sometimes.

Well the woman showed me on the screen and what she said mirrored what was seen.

iereboy

You could be eligible for certain products but not all assuming no CPD or other markers are placed on the account.

The rule across the board is CPD means no lending products.

jackjones01

iereboy wrote: »

You could be eligible for certain products but not all assuming no CPD or other markers are placed on the account.

The rule across the board is CPD means no lending products.

In that case I will presume i do not have a CPD but have some other marker that will prevent me from getting a loan or credit card at the moment.

MME_2

iereboy wrote: »

CPD is applied throughout all lending products. Its not one rule for one product and another rule for another.

Incorrect. You may be given the decision Credit Policy Decline for a loan but eligible for an overdraft. There are different risks/profits etc attached to each product and just because you are x for one thing doesn't mean you are x for another.

iereboy

Lending has told us there is a blanket ban across the board for cpd. I will check on Monday and reconfirm