Told I am 'perfect customer' and then refused an account???

Rupert_Bear

Gulligirl wrote: »

Hello!

Need some advice please...

I have had the same Santander bank account since I was in my teens and decided it was high time to move to an account that offered a bit more. After lots of searching decided Halifax's reward account was the one. Went to the bank this morning to start the switch to be told that the only account they can offer me is their most basic one with a visa electron card?!? Even the advisor was shocked! She called head office but no joy.

I am in my late 20's, always in credit, never had a credit card / loan / store card / overdraft except a student loan which is now paid off, had the same job for 3 years and earn c. £19k, lived at my current address for 4 years, on the electoral role...... MSE's credit checker says I'm excellent!!

Any top tips on what I should do to become eligible to switch to a full bank account?

Thanks!

When I worked for Lloyds about 11 years ago the perfect customer was the one who always used their overdraft.

By your past performance it would indicate you would not be profitable to the bank.

Zorz_2

heloid wrote: »

You can't get a current account without an "overdraft facility".

OK, let me rephrase: with no arranged overdraft.

izools

Gulligirl wrote: »

never had a credit card / loan / store card / overdraft except a student loan

This will be why -

You have no credit history. Student loans don't count as they aren't regulated credit agreements and don't appear on your credit file.

Halifax won't know what you're like as a customer as your credit file tells them nothing. They have no way to know if you're a high risk or a low risk. Previous experience with credit will tell them this.

If you want to impove your chance of approval for prime products like full bank accounts, you need to start building a credit history for yourself.

The best way to do this is with a sub prime credit card.

E.g.
Capital One Classic
Vanquis
Aqua
Barclaycard Initial

Once you've held, and run well, an account like this, for atleast a year you'll have started to build a positive credit history and will be looked upon more favourably by financial institutions that you apply for accounts with.