Halifax £100 switch reward account help?

matt1987

Hi All

I applied for the above account at the start of last week as it seemed like a good offer, and I already have a joint account with Halifax!

I have had some paperwork through the post today stating that " At the moment, they are not able to offer me the account I applied for ". They have enclosed a credit scoring leaflet which is useless.

Worried that they have declined me due to my credit score, I rang Halifax helpline who were no help what so ever.

I have ZERO bad credit. My last bit of credit was only last month with a new Orange contract. I have a Mortgage which I have never missed a payment on, and also a car on HP, which again I have never missed a payment on. I own no credit cards and have never been over drawn.

Any idea as to why they would decline me on a credit score? Or is this a cop out from Halifax so they dont have to pay me the £100. Id like to add they will allow me to open a normal cash account with Visa Electron!

Any help appreciated.

Matt

chanz4

How is the joint account operated,od etc

matt1987

chanz4 wrote: »

How is the joint account operated,od etc

Its an ultimate reward account with no OD. I have never gone over drawn either.

Im on the phone to Halifax as I type to a manager, yet they cant tell me why they have refused me!?

They ask I get in touch with Experian, yet they wont speak to me as I am not an account holder with them. Looks like I need to purchase a £2 credit report?

Ridiculous.

Mandelbrot

What bank were you proposing to switch from? Was it one in the Lloyds Group stable?

matt1987

No not that I am aware of, im switching from HSBC.

matt1987

I have just paid £2 for a credit report on equifax. What should I be looking for? Halifax have said if its their mistake then they will pay compensation.

Problem is, I have no idea what I need to be looking at. My file is clean - and everything is up to date or settled. There is nothing that should not be on there?

Thanks

Matt

jen245

Halifax don't use Equifax, they use Experian, you need to check your Experian report

matt1987

jen245 wrote: »

Halifax don't use Equifax, they use Experian, you need to check your Experian report

I have received a booklet within the letter containing the names of the 3 agencies they use:

Call credit
Experian
Equifax

The manager who I spoke to said I need to get a credit report from one of the three agencies.

HoneyAndLemon

matt1987 wrote: »

I have received a booklet within the letter containing the names of the 3 agencies they use:

Call credit
Experian
Equifax

The manager who I spoke to said I need to get a credit report from one of the three agencies.

Even if you're reports look fine to you, they can still say no. Banks dont HAVE to offer you everything you apply for.

Their reasons for not offering you another full current account could be anything. You may not have had enough credit, too much credit, you don't fit their ideal customer profile, i.e. they don't see themselves making any money from you in the future through other products based on your report and your previous/current lendings.

They don't have to give you the exact reasons they decline you either. If they did, customers would simply apply again altering the details, getting offers for accounts when Halifax won't really want them to have it.

Might not be what you want to hear, but they have every right to say no. If you don't like it you can switch to another bank and make use of their incentives.

jen245

I have a few accounts with Halifax, including a credit card, and they only use Experian for full credit searches and Call Credit for money laundering searches. They don't use Equifax

matt1987

jen245 wrote: »

I have a few accounts with Halifax, including a credit card, and they only use Experian for full credit searches and Call Credit for money laundering searches. They don't use Equifax

I have halifax literature which came with the letter - clearly stating the 3 companies I mentioned in which they use for credit checks. Just spoke to call centre and the equifax is fine. Just need to send letter of complaint off now.