Visa Electron card - impact on application for a credit card?

Roger1

None, I would have thought, until reading this in yesterday's Guardian:
http://www.guardian.co.uk/money/blog/2013/mar/30/money-saving-tips-sting

The writer was initially rejected when applying for a Halifax Clarity MasterCard because he already had a Halifax Visa Electron card!

Like him, I got mine in an attempt to avoid absurd mark-ups when booking travel online. However, I have applied for credit cards since, including the Halifax Clarity MC, and been accepted without qualification, so his advice may not apply to everyone.

Interesting article, though.

Typhoon2000

Nothing to do with having an Electron card but having a Basic current account with the same provider. But again from the article it says you can apply in branch in this situation.

Roger1

No, the Halifax EasyCash account IS the Visa Electron card account so everything to do with having an Electron card.

YorkshireBoy

Roger1 wrote: »

No, the Halifax EasyCash account IS the Visa Electron card account so everything to do with having an Electron card.

But you can't get their Electron card without having a Halifax Basic Bank Account can you? I suspect the fact you have one of these (in isolation, ie no full-feature account as well as) may be viewed in a poor light by Halifax's systems with regard to credit scoring for other products?

Easycash accounts are typically given to those who don't qualify for full-feature banking facilities due to poor credit ratings. They were also opened by the financially savvy though, but Halifax's systems probably don't take that into effect.

stclair

I remember a Halifax employee saying on MSE once that if you have a Halifax basic account and you apply for a credit product you'd get automatically declined.

RBS/Natwest have a similar policy if you have a basic account a z marker gets put on your profile preventing you from getting credit regardless of whether your financially sound or not.

KaiserBill

stclair wrote: »

I remember a Halifax employee saying on MSE once that if you have a Halifax basic account and you apply for a credit product you'd get automatically declined.

RBS/Natwest have a similar policy if you have a basic account a z marker gets put on your profile preventing you from getting credit regardless of whether your financially sound or not.

This is interesting. I have a Natwest basic account,this follows my bankruptcy nearly seven years ago. I have been wanting to upgrade to a " full " current account. Does this policy mean that if I were to apply to Natwest they would automatically reject me. Or do they allow you to finally move on from a basic account ?

tutti_fruity

I have had a Card Cash account for twenty plus years and two years ago decided to switch my main current account to Halifax and did so online with no problem also I applied for a credit card at the same time.

stclair

KaiserBill wrote: »

This is interesting. I have a Natwest basic account,this follows my bankruptcy nearly seven years ago. I have been wanting to upgrade to a " full " current account. Does this policy mean that if I were to apply to Natwest they would automatically reject me. Or do they allow you to finally move on from a basic account ?

If you have a z marker applied to your profile you'll automatically get declined. If you was to apply and be declined you would have to appeal the decision.

KaiserBill

stclair wrote: »

If you have a z marker applied to your profile you'll automatically get declined. If you was to apply and be declined you would have to appeal the decision.

Many thanks for your response. I thought as much. I have been thinking of trying Barclays. I have read on here a few times of people being accepted by them.

stclair

KaiserBill wrote: »

Many thanks for your response. I thought as much. I have been thinking of trying Barclays. I have read on here a few times of people being accepted by them.

If your credit file is now clear you may want to try and apply to a lender you haven't had dealings with previously maybe try Barclays or lloyds TSB.

KaiserBill

Yes, that`s one reason why I was going to try Barclays - I have no " previous " with them. Also, I have gained the impression from reading on here that their acceptance criteria might be a little, how can I put it... less demanding that some of the other banks.


I also have a Co-op basic account. I asked them if they would upgrade me to a full account - instant refusal !


I recently got an Aqua card. So I am going to wait for some time and then I will try Barclays.