Lloyds TSB - Level Of Indebtness Marker

jon142

Hi all,

Just seen a thread about the CPD marker, I have a level of Indebtness marker on my internal lending score card with lloyds, I know this because I seen it in branch! I don't have CPD just LEVEL OF INDEBTNESS

I'm currently "per approved " for

1) 2500 OD

2) Loan upto £360 PCM repayment

However they are useless to me because I actually want a credit card not a loan or an overdraft. This month Ive closed 5 old accounts down.

ARGOS CARD - 350 limit
CAP ONE PROGRESS - 300
NEXT DIRECTORY - 3000
VERY ACCOUNT - 250
& Lloyds TSB loan ( previous loan ) - 1000

But these haven't updated on my credit file yet. ( could this help me get a card with lloyds )

I have 3 large interest free overdrafts in total £3900 and a credit card with a £2500 limit which I use about £300 each month ( m&s money ) never a balance left on payed in full.

Lloyds TSB is. My main bank I use them for everything.

Any ideas how to get this level Level of Indebtness marker to budge?

MoneySaverLog

Don't know, but I suspect they take the information from the credit reference agency as to what you owe or have as available credit so by closing down old credit cards is going to improve the level of indebtness I would have thought once they are marked as settled at the CRA.

Not sure if that will be real time with Lloyds though, it may be a monthly update that's done at a certain time of the month. Don't know. But may be worth waiting a month or two after closing down the old accounts and checking then.

BTW How did you find out about this marker and internal lending score card and how did you get to see it?

Plxply

MoneySaverLog wrote: »

BTW How did you find out about this marker and internal lending score card and how did you get to see it?

From what I saw from OP's post they saw it possibly whilst having their account details on screen. When you go in to a room with a staff member to open an account or for a "review" you can easily see the screen, in my local branch you can anyway. Although it might have also been mentioned to them by a staff member.

I doubt that the cards you closed this month would have been recognised yet by Lloyds, not only is there a small amount of lag for the card issuers to report that the account is closed but I doubt Lloyds will be automatically getting credit reports unless you're applying for a credit product. I personally would wait a month after closing the last card to ensure all the systems are updated.

MoneySaverLog

I've read in another thread subsequently that they do a update around the 21st of the month. So not real time updates from the CRA.

jon142

Yep! you are right i went into branch for a "review" and thats when i seen the preapproved overdraft and loan etc.

Apperently i am a "3" on there internal system and a loan indicator score of F. was previously a H.

However i am allowed £360 pcm loan from them.

I also seen the level of indebtness marker against the credit card.

hopefully with all these cards settled and some information coming off my file from santander they will look at giving me one. never had a single fault with the account its been run perfectly. never dropped below £200 in the account always lots of money going thought it.

Can't understand why they would give me an overdraft but no credit card!

MoneySaverLog

Which credit card did you see the level of indebtness marker against, cause you're only allowed one credit card with them acording to Lloyds TSB site.

Though I've heard if you have private banking they might overide it.

jon142

MoneySaverLog wrote: »

Which credit card did you see the level of indebtness marker against, cause you're only allowed one credit card with them acording to Lloyds TSB site.

Though I've heard if you have private banking they might overide it.

Dosn't quite work like that, its says;

OVERDRAFT .... £2500MAXIMUM
LOAN ... £360PCM REPAYMENT
CREDITCARD... LEVEL OF INDEBTNESS

it dosn't say which one its a blanket marker. if that makes sense.

MoneySaverLog

I see, in that case I guess it is income/outgoings from the account they might be looking at, or CRA information as to what you have on credit already against what they see coming into your account.

jon142

I dont think those 3 large intrest free overdrafts are helping. they are maxed out but its 0% so not worried about paying them back...

YorkshireBoy

jon142 wrote: »

I also seen the level of indebtness marker against the credit card.

This is almost certainly derived from the monthly feeds they get from the CRAs (google consumer indebtedness index [CII]).

Getting rid of available credit won't help. Indeed, it could make matters worse as it'll increase your utilisation ratio.

Can't understand why they would give me an overdraft but no credit card!

Overdrafts offer more 'protection' for them, in that they are repayable on demand whereas credit card debt isn't.

savagej

Yep, and you can calculate your own CII number, it is very easy to do.