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

MoneySaverLog

Was there any adverse at the CRA, if so when was it removed? Lloyds do system updates and take a feed from the credit reference agencies once a month on or around the 20th.

Also if you apply to them and are declined, you have to wait a certain amount of time, I found 2 months, before any update gets done. If you take out a credit product it may temporarily affect any further lending for a short amount of time too.

abercrombie

MoneySaverLog wrote: »

Was there any adverse at the CRA, if so when was it removed? Lloyds do system updates and take a feed from the credit reference agencies once a month on or around the 20th.

Also if you apply to them and are declined, you have to wait a certain amount of time, I found 2 months, before any update gets done. If you take out a credit product it may temporarily affect any further lending for a short amount of time too.

The adverse information was removed about December last year

MoneySaverLog

Seems a strange one to me then, that's more than enough time for their systems to have removed the adverse flag and reassessed the CPD marker. Was any of the adverse with a Lloyds Banking Group company?

abercrombie

MoneySaverLog wrote: »

Seems a strange one to me then, that's more than enough time for their systems to have removed the adverse flag and reassessed the CPD marker. Was any of the adverse with a Lloyds Banking Group company?

There isn't an adverse flag on my account, just a CPD?

The adverse credit was actually with Capital One

MoneySaverLog

That's what I meant the adverse flag would have been there while the adversary data was on the CRA and then it would have been removed. At some point the CPD should have been reassessed after that point by the computer system I would have thought.

I found it to take a couple of months with me before they would give me anything despite a good internal score with them after the removal of adverse data from the CRA. Mind you what I did not get was the good score with the adverse marker I had. Seems random.

abercrombie

The adverse information on my credit file was removed in December and I didn't open my account till the following February so it should have put an adverse marker on there?

MoneySaverLog

Ah I see. So you've had your account a little over 6 months. I agree there should be nothing there at all given those circumstances.

Could just be they are waiting to see how well you run your accounts with them before removing the restrictions. The lack of any positive data may also be the issue, they're unsure of your risk profile for a given product.

BrandNewYear

abercrombie wrote: »

Thats the issue I am having - I have nothing bad on my report but I can't seem to be able to get credit. On my credit report it shows my Lloyds Account which I opened in Jan/Feb, my Home Broadband Account from June and then the Capital One Card which I only just took out as I was advised that having hardly anything on my report is the thing thats causing the issue?

which Home Broadband Account is this that would report to the CRAs?

bengal-stripe

thatsthewayitisin2012 wrote: »

.....I applied for an overdraft via internet banking, I typed in £3000, It was accepted instantly.

So, you were gven an overdraft of 3k, where you recently had a 'Credit Policy Decline'. It means that decline doesn't operate any longer.

thatsthewayitisin2012 wrote: »

I wanted a loan so I applied It was instantly DECLINED.

So, on top of the 3k overdraft you wanted a loan as well. Weren't you getting greedy? I think it's only fair the bank did not want to give you any more credit, before you proved you could handle credit.

thatsthewayitisin2012 wrote: »

I have raised a formal complaint about CPD. Hopefully on the 17th August when the systems update again this CPD will disappear.

That CPD has obviously gone, otherwise you wouldn't have been given the overdraft. You simply wanted too much credit and too soon.

abercrombie

bengal-stripe wrote: »

That CPD has obviously gone, otherwise you wouldn't have been given the overdraft. You simply wanted too much credit and too soon.

I think the CPD marker is applied to things separately, I went in to Lloyds to ask if I was able to have a loan or an overdraft and they said I could't because I had a CPD marker however they said I could have an overdraft of £3000. (They didn't do any credit searches on the spot, it was a screen that shows an indicative approval)