Declined a credit card at Lloyds TSB

MoneySaverLog

I've been told that my internal score is a 1B whatever that means, but because of data at the CRA I've been declined.

My files at the moment are all clear, my Experian Credit Score is now 965, I know that don't mean a lot but took their trial so got the score too.

I've cleaned up some bad data on the CRA this month and thought I'd be accepted but got declined as adverse credit on the file. I'm worried this is going to stop me getting a mortgage further down the line now Lloyds know about this.

Do Lloyds TSB systems not pull data from the CRA when you apply for a card? Is it based on live data at the CRA or every month as has been hinted at in the branch when I was told to re-apply on the 16th April by the lady in the branch but don't want to keep adding more searches to my file if they are going to decline me again then.

I'm told 1B is a good score, and one the advisor has not seen many times, taking in my experian credit report they could not see why I was declined and left them scratching their heads somewhat. I'm wondering is 1A the highest score and what I'd have to do to get that score or if wiping the adverse data after next month would get me a 1A credit rating with Lloyds TSB.

jonesMUFCforever

When did you clear 'bad' stuff off your CRA report and what was the bad stuff?
Banks normally update monthly - so the advice to try again might be a good one.

MoneySaverLog

An old IVA along with 4 Defaults dissappeared off my credit files last week and so I now want to rebuilt my credit history with Lloyds who I've been banking with for a good number of years. I want to be able to get onto the property ladder in 5 years time as I'm saving for a deposit and was thinking about going with Lloyds but now I'm quite dissapointed and worried now they know about my CRA file it's probably going to affect me in the future.

Saints2011

The risk bands are 99 98 9 8 7 6 5 4 3 2 1

99 98 being Cash accounts, 1 being the best internal score but this doesnt mean you are automatically accepted for everything. The lady could of seen before you applied whether it would of been accepted or declined. They may or may not search a CRA, from past experiences they havent but i've always been pre-approved.

The A B C E D F G H are the loan rates which set the different APR's

The risk banks, apr rates and pre approved offers are updated monthly ususally around the 20th.

Your score with Experian means nothing see my signature.

Ben8282

So what is the normal risk band for an average established current account customer with no adverse CRA reports and no adverse history with the bank?

Rupert_Bear

Ben8282 wrote: »

So what is the normal risk band for an average established current account customer with no adverse CRA reports and no adverse history with the bank?

I have a clean credit history and my Internal Score with Lloyds can range from 1 to 3 but never any higher.

KingElvis

With TSB is was very likely a thing called CPD (Credit Policy Decline) this will have been slapped on your account when you had all the defaults and stuff.

MoneySaverLog

No, there is no CPD marker on my accounts with Lloyds TSB. Internal score is a 1B

jonesMUFCforever

.............but they have not updated their credit basis and will not do so now until about the middle of next month?

MoneySaverLog

That's what I am hearing, so will try again then :-)

Ben8282

Rupert_Bear wrote: »

I have a clean credit history and my Internal Score with Lloyds can range from 1 to 3 but never any higher.

Thanks. I asked because I saw my own score on one of their screens last summer and wondered but I guess it's ok because the score was within the range that you state.