How to proceed overdraft, after a refusal??

vino005

Hai,

I run an account with Lloyds and been refused for over draft, once when I was into bank and couple times online.

When I was into bank and had a chat with lady on help desk, she told me I had good credit reference and showed me some points showing 1 (I have run the account for two plus years and have run a direct debit contract for 24 from same account, without any dd fail or bounce. :j

But she insisted me to have some cash left in excess like £100 or £200 to be eligible for successful application. ( coz I move all money to other account or send back home and leave it around 50's for direct debits.

From then my lows were 13jul £84, 15 Aug £51, 17 Aug £171, 28 Aug £301, 12 Sep £172, 17 Sep £274, since then till date low is £408.

[note: if I state as low, I hav gone above like 500 to 800, and with txn pitching up and low, the lowest after few txn wre as given]

Since then I made two online od application and got refused, one to latest (a week back). ( I put up for £1000):mad:

Could someone help me gaining successful application.

How must should I operate to get £1000 like, I intend to start some business by next apl, so must raise od's and funds to support a big credit. When shell I make a application next.:beer:

BugsyBrowne

If you've been refused an overdraft that means they've placed a CPD marker on you for overdrafts and possibly loans and possibly their credit cards.

Lloyds systems can update anywhere from the 19th to the 22nd of each month and going into a branch or asking staff will not work as a CPD can't be removed manually.

Keep checking your account from the 22nd to see if the CPD marker drops off and you're eligable.

CPD (credit policy decline)

antrobus

vino005 wrote: »

...

How must should I operate to get £1000 like, I intend to start some business by next apl, so must raise od's and funds to support a big credit. When shell I make a application next.

You could start be being in honest with your bank and tell them that you intend to start a business, go and see a Lloyds business advisor and see what they'll offer you in terms of business credit, rather than try and get an overdraft on your personal account.

vino005

BugsyBrowne wrote: »

If you've been refused an overdraft that means they've placed a CPD marker on you for overdrafts and possibly loans and possibly their credit cards.

Lloyds systems can update anywhere from the 19th to the 22nd of each month and going into a branch or asking staff will not work as a CPD can't be removed manually.

Keep checking your account from the 22nd to see if the CPD marker drops off and you're eligable.

CPD (credit policy decline)

Hi, many thanks for a reply.

How do I know if CPD marker is down. If CPD refers the pointing, the lady I checked (by around July) told me, I had a rating of 1 and just needed was some money kept always in account so the od process doesn't assume I'm bankrupt.

BugsyBrowne

vino005 wrote: »

Hi, many thanks for a reply.

How do I know if CPD marker is down. If CPD refers the pointing, the lady I checked (by around July) told me, I had a rating of 1 and just needed was some money kept always in account so the od process doesn't assume I'm bankrupt.

You can have a 1 rating and still be CPD marked, ring Lloyds up and ask them which lending products you've been credit policy declined on and they will tell you.

dr_adidas01

It doesn't matter if you have a rating of 1 or 99 you can still have a 1 rating and still have a CPD marker on your account. You could go into branch and ask to speak to an advisor and see if they will tell you if you have a CPD marker on your account.

If you do then it wont matter how much money you leave in your account, you will never be given any credit products at all.

Cass85

Im afraid it is about how you run your account and if it is affordable for you to have one. They need to know you can operate your account responsibly and repay any balances you might use. These continuously declined applications for an overdraft are bound to have an effect on your credit file. Be careful.

dr_adidas01

Cass85 wrote: »

Im afraid it is about how you run your account and if it is affordable for you to have one. They need to know you can operate your account responsibly and repay any balances you might use. These continuously declined applications for an overdraft are bound to have an effect on your credit file. Be careful.

I don't think this person knows what there talking about.

You can operate your account for 20 years perfectly, no bounced direct debit have thousands in your account (though stupid if you do) if you have a CPD marker on your account. It will decline what ever the marker is against straight away, without even doing a credit check.

I would go into a branch and see if you have a CPD marker on your account and what products its marked down for.

I would also stop trying to apply for an overdraft every week as that will also make you look desperate for credit.

Cass85

dr_adidas01 wrote: »

I don't think this person knows what there talking about.

You can operate your account for 20 years perfectly, no bounced direct debit have thousands in your account (though stupid if you do) if you have a CPD marker on your account. It will decline what ever the marker is against straight away, without even doing a credit check.

I would go into a branch and see if you have a CPD marker on your account and what products its marked down for.

I would also stop trying to apply for an overdraft every week as that will also make you look desperate for credit.

How do you know there isnt adverse credit elsewhere which could have a knock on effect with this account?

dr_adidas01

Cass85 wrote: »

How do you know there isnt adverse credit elsewhere which could have a knock on effect with this account?

I don't however it doesn't matter if the OP doesn't have adverse credit information else where.

If they have a CPD marker on there account no credit facilities will be offered depending on what the CPD marker has been placed against.

If they do have adverse information on there credit files then this maybe why a CPD marker has been placed on the account.

So my previous post was correct even if you run your account perfectly you won't be offered any credit facilities by the bank!!!!!

dalesrider

Seems to me there is one glaring omission in this thread.

OP wants a O/D of 1K.

But at no point has their been any indication of the regular income of at least that amount.
OP mentions low amount of sub £100 and highs or £800. Yet no mention of how the account is funded?
If its by transfers in then the odds of a O/D are slim to none. If its by a wage. Then it needs to be at least 1K a month to get a 1K O/D.

Best advise was to talk to the buissness advisor if thinking of starting up. NOT take out a O/D on a personal account.