New Bank Account - Credit Checks

amys659

Looking at opening a new joint account with my husband as im so sick of santander.
However we are applying for a mortgage in a few months and my credit score has just returned to a healty level after opening some new accounts and changing address. Does anyone know if I apply with Lloyds will they perform a soft or hard credit check?

Thanks in advance
Amy

CherlokHomes

amys659 wrote: »

Looking at opening a new joint account with my husband as im so sick of santander.
However we are applying for a mortgage in a few months and my credit score has just returned to a healty level after opening some new accounts and changing address. Does anyone know if I apply with Lloyds will they perform a soft or hard credit check?

Thanks in advance
Amy

First if all your score is worthless and in no way signals your got a healthy credit history.
Lloyds will check you and your husbands credit reports which will be full credit search.

The scores from CRAs are meaningless money making scams

amys659

Innovate wrote: »

First if all your score is worthless and in no way signals your got a healthy credit history.
Lloyds will check you and your husbands credit reports which will be full credit search.

The scores from CRAs are meaningless money making scams

My scores not worthless 860 last time I checked and raising by the month. He wont be a problem as he is already with them and a gold account customer. A soft search isn't a problem its whats known as a hard search im worried about as I don't want my score knocking down regardless of weather I get the account or not. Only reason im moving at all is Santander flat out refuse to put a small overdraft say £50.00 on the account so we can use it for direct debits without worry.

Hominu

amys659 wrote: »

My scores not worthless 860 last time I checked and raising by the month

For £9.99 per month I'll download your credit report for you, pay the £2 fee and give you a random number depending on what I see on your report and the number of searches. It'll have no relevance to you applying for credit however, which is the same as the number you see at the moment.

MoneySaverLog

Lloyds will score you. 860 is the score from the Credit Reference Agency. The credit reference agency are not giving you the account. Lloyds are, they have their own scoring system and take into account the DATA at the credit reference agency and NOT THE SCORE

YorkshireBoy

amys659 wrote: »

My scores not worthless 860 last time I checked and raising by the month.

Only reason im moving at all is Santander flat out refuse to put a small overdraft say £50.00 on the account so we can use it for direct debits without worry.

So how many more months do you have to wait before your "score" is good enough for a £50 O/D facility?

I'm sorry if this offends anyone, but £50 is peanuts!...and the fact that Santander won't give you such a low facility says it all about the CRA credit score you've bought. I'm surprised you can't see that yourself actually. Then again, being as your post was very dismissive, maybe I'm not. You carry on wasting your money! Actually, on that point, if you stopped paying for a monthly credit score you'd soon have a £50 buffer built up in the Santander account and wouldn't need the O/D facility. Every cloud...?

dalesrider

amys659 wrote: »

My scores not worthless 860 last time I checked and raising by the month.

Only reason im moving at all is Santander flat out refuse to put a small overdraft say £50.00 on the account so we can use it for direct debits without worry.

So if you think that, that score of 860 is good. Why then are Santander refusing a £50 overdraft....

Wake up, and smell the scam.... That money you are giving them each month could be put to far better use.

Each bank uses its own internal scoring and then takes a FULL look at your credit report. Not the headline figure they generate to make you feel good.

innovate

amys659 wrote: »

My scores not worthless 860 last time I checked and raising by the month.

Made me chuckle.

Just accept there is no such thing as a "worthy" credit score.

If you don't believe the seasoned forum posters, perhaps you will believe Martin Lewis, the founder of this site: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

If you don't believe him either, all anyone can do is commiserate and wish you the best of luck.

Dr_Cuckoo3

innovate wrote: »

If you don't believe the seasoned forum posters, perhaps you will believe Martin Lewis, the founder of this site: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

If you don't believe him either, all anyone can do is commiserate and wish you the best of luck.

no thanks - he was clueless when starting this forum years ago (relied on advice from long gone poster - Galstonian)

Some of us remember his efforts to poach posters from motley fool

innovate

Suppose £80m later he couldn't care less

Dr_Cuckoo3

innovate wrote: »

Suppose £80m later he couldn't care less

of course he doesn't - send him off the supermarket to buy "yellow stickered" grub with a wad of money off coupons

I think not - still if it gets him a few more daytime TV type followers who's going to complain

quantity over quality