Lloyds TSB CREDIT POLICY DECLINE!!!!!!!!!!

thatsthewayitisin2012

Hello People, I was in the branch on the 4th July to request a loan for £5000 over 24 month to pay off existing c.agreements and the Bank Manager told me NO lending was available because I have CREDIT POLICY DECLINE on my account. He told me it could disappear on 17th July when the systems get updated. I previously could not upgrade my bank account or have an overdraft. I logged on my internet banking on the 17th July and I could upgrade my account all the way up to PREMIER. I applied for an overdraft via internet banking, I typed in £3000, It was accepted instantly. I wanted a loan so I applied It was instantly DECLINED. I checked my credit profile (Experian + Equifax) NO CREDIT SEARCH FROM LLOYDS. LLOYDS do not do credit searches for loans and credit cards there base the decision on your internal score or whether you have CPD. I applied for an additional account, It was accepted. My credit profile is in the excellent score, I earn £25,000 per year. No late payment etc. I have raised a formal complaint about CPD. Hopefully on the 17th August when the systems update again this CPD will disappear. I will update yous.

Do any other people face this problem???
It is so annoying!!
Also he advised me my internal score was 1 (the best you can have) but this CPD is the problem

BugsyBrowne

So you are CPD just on loans then and not OD or upgrade accounts.

Do you have a high Credit balance outside of lloyds that the monthly feed have picked up as this would give you a CPD on loans straight away.

thatsthewayitisin2012

Credit Cards aswell, I spoke to experian today, no monthly feeds, Lloyds can only give them information to update account info. For Lloyds to check your existing accounts from other institutions there must do a credit search with you permitting one. Experian do not give lloyds any information, lloyds gives them info.

I have no high balances outside of lloyds

Total outstanding debt of 9th Aug 2012 is:- £4213

chanz4

what a load of rubbish , the cra's do provide monthly feeds

chanz4

http://experian.co.uk/credit/credit-data-systems-and-processes.html

thatsthewayitisin2012

That so n so told me porkies after being on the phone for 16 minutes bloody 0845 number. Why cant people be straight and know what they talking about!!!! So annoying

MoneySaverLog

I'm not sure how you can have a internal score of 1 and a CPD together.

Internally believe the risk bands go 1,2,3,4,5,6,7,8,9, 98 and 99 CPD Where 1 is the best. They also have a letter A-F after them I believe this is more to do with what loan rate they can offer you. A being the best.

I also believe that each product has a limit set against it, how that's worked out and what it is is anyone's guess.

Outside of this they take a monthly feed from the credit reference agencies around the 20th of the month to update your customer profile.

Yet to work out how the "My Offers" screen appears on Internet banking, as not had any offers appear or the "My Offers" part show up, despite giving them marketing permissions via internet banking.

If you've applied for a credit product, I'd advise waiting at least 2 months before re-applying. I found they auto-declined me a credit card, when I applied after the 20th because it was too soon to a previous rejection with them. After 2 months it went through fine with me. My score at the time was a 1A. I've no idea what it is now though.

BugsyBrowne

MoneySaverLog wrote: »

I'm not sure how you can have a internal score of 1 and a CPD together.

Internally believe the risk bands go 1,2,3,4,5,6,7,8,9, 98 and 99 CPD Where 1 is the best. They also have a letter A-F after them I believe this is more to do with what loan rate they can offer you. A being the best.

I also believe that each product has a limit set against it, how that's worked out and what it is is anyone's guess.

Outside of this they take a monthly feed from the credit reference agencies around the 20th of the month to update your customer profile.

Yet to work out how the "My Offers" screen appears on Internet banking, as not had any offers appear or the "My Offers" part show up, despite giving them marketing permissions via internet banking.

If you've applied for a credit product, I'd advise waiting at least 2 months before re-applying. I found they auto-declined me a credit card, when I applied after the 20th because it was too soon to a previous rejection with them. After 2 months it went through fine with me. My score at the time was a 1A. I've no idea what it is now though.

You actually can have an internal score of 1 but still have a CPD as this has been confirmed by 2 branch managers.

They said they have many customers on a very low score due to account conduct like not going over OD,not bouncing cheques etc but said many customers do have CPD's mainly through having credit commitments elsewhere.

I haven't had any offers yet I started with a 3 now I am a 5 for some unknown reason.

I haven't met the 3 month rule Which will be this month.

thatsthewayitisin2012

It is a very strange system, now my profile is great, no lates/ default, low balances, no ccjs etc. My banking score is 1, there have no reason for CPD. If the done monthly feeds from experian for me the CPD would just be removed because there is no problem at all. I have made a formal complaint to them with my credit report. We will see what happens, if nothing changes I will leave bank, whats the point in stopping in they cannot trust you and use a silly systems!!!

angelsmomma

I left them for this reason too. Excellent cra and good income, the best they could do was £14000 loan at 24% :eek: ( I wanted a mortgage)

I left them and got the mortgage with another provider right away.

Their system is so bad at assessing risk.

thatsthewayitisin2012

angelsmomma wrote: »

I left them for this reason too. Excellent cra and good income, the best they could do was £14000 loan at 24% :eek: ( I wanted a mortgage)

I left them and got the mortgage with another provider right away.

Their system is so bad at assessing risk.

I was looking on money manager today, £26313 went thru account last year, £21438 has gone thru so far this year and there still think im a risk!!!!