Standard Back Account - Credit check questions

kirstle99

Hi

Me & hubby have a joint cashminder account with the co-op at the moment. We settled all our debts (mix of partial and in full) in July 2012.

We would like to open a new joint standard current account. I currently have 5 defaults on my record, 3 drop off 2013, 1 in 2014, 1 in 2015. Hubby has 2 dropping off in 2014.

We both aquired credit cards with Vanquis in August 2012 and have been using and paying off all in full each month, both limits £500. Hubby also got accepted for a capital one credit builder card of £200 in December 2012 and have been paying them off in full.

Are we likely to even pass the credit check for a standard current account? Does it make a difference if we specify no overdraft when applying etc?

(we don't want a fee-paying one, just a standard one)

Thanks in advance for any advice

JuicyJesus

kirstle99 wrote: »

We would like to open a new joint standard current account. I currently have 5 defaults on my record, 3 drop off 2013, 1 in 2014, 1 in 2015. Hubby has 2 dropping off in 2014.

Are we likely to even pass the credit check for a standard current account? Does it make a difference if we specify no overdraft when applying etc?

I would be really, really surprised.

kirstle99

Thanks that's just what I thought

So we would be better waiting until all the defaults are gone I assume? It doesn't matter that we are building up good history with credit etc?

212

Go into a branch and just ask them - the staff will be able to tell you if it's a definite no. If not, it's worth an application just to see. I guess you can phone customer services to get an answer too, not 100% sure if they will tell you over the phone.

I'd say if Co-Op won't give you a current account, then it's unlikely anywhere else. 1 application to the co-op to see won't hurt though.

kirstle99

Thanks for your reply. I've not got a branch near me but i'll give the main number a call tomorrow and see what they say.

It's not a major rush or anything I was more just curious, thanks very much

212

No problem You can't apply online because of your history, but I'm sure you can still apply in branch/over the phone, if you aren't going to be instantly declined.

If a branch is a fair way away it sounds like you won't pop in to apply either, so an app may be done over the phone? If so, you could even call (or request a callback) and basically say you have a Cashminder and you want a joint Current Account. You'd then give your account number etc and they should then determine fairly quickly if it's worth you going through an app.

john1002

Dont waste your time with Co Op they will not let you have a full current account till you have a clean file and even then Ive read a few posters say there files are now clean but co op wont give them a full account but they have just gone with another provider with out any issues, your current building credit will only come into its own when you have clean files.

john

dr_adidas01

Co-Op are a bit like First Direct when it comes to customers they pick and choose whom they want to provide accounts for.

It might be better for you to go with a different bank.

jonesMUFCforever

kirstle99 wrote: »

Thanks for your reply. I've not got a branch near me but i'll give the main number a call tomorrow and see what they say.

It's not a major rush or anything I was more just curious, thanks very much

If both of you are on electoral loan - why not apply online for a bank account?
The credit search result should be the same whether you apply in person or online.

guesswho2000

You-kip wrote: »

Co-Op cashminder for those with dodgy credit files is easy to get accepted as for a full current account I'm with Dr addidas they are very choosy who they accept.

Cash minder isn't a full current account, it's a basic account.

pmduk

Read the sentence with a comma after accepted, you'll understand what the poster intended.