We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Standard Back Account - Credit check questions

kirstle99
kirstle99 Posts: 471 Forumite
Part of the Furniture 100 Posts Debt-free and Proud!
edited 8 April 2013 at 7:52PM in Budgeting & bank accounts
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

:o

Comments

  • JuicyJesus
    JuicyJesus Posts: 3,832 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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.
    urs sinserly,
    ~~joosy jeezus~~
  • kirstle99
    kirstle99 Posts: 471 Forumite
    Part of the Furniture 100 Posts Debt-free and Proud!
    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
    212 Posts: 241 Forumite
    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
    kirstle99 Posts: 471 Forumite
    Part of the Furniture 100 Posts Debt-free and Proud!
    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 :o
  • 212
    212 Posts: 241 Forumite
    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
    john1002 Posts: 985 Forumite
    Part of the Furniture 500 Posts
    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
    dr_adidas01 Posts: 2,157 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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.
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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 :o
    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
    guesswho2000 Posts: 1,703 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Uniform Washer
    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
    pmduk Posts: 10,683 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Read the sentence with a comma after accepted, you'll understand what the poster intended.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.8K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.2K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.