Credit score and internal banking score

fifidfw

Good afternoon all.

After logging off internet banking the other day, I received an email saying there was an error with my account and to click the link below. I'm happy to say I didn't and the next day popped into my local branch to let them know. While I was there, I also asked if I could make an appointment to see someone about improving my credit rating ( I know they are not worth the paper they are printed on ) as I've been debt free for just over a year.

He took my bank card and checked something on the customer services desk. I was then taken into one of the interview rooms where a personal advisor was waiting for me. After a general chitchat, she then looked on her computer said my credit report looked fine and had an internal score of a 1a, I was offered a credit card @ 13 months interest free with a healthy credit limit an overdraft and a loan. I took the credit card. It's mainly to be used for shopping, fuel etc and all cleared within the month. If I do not have the money in the bank account the credit card will not be used.

What I'm wondering is, how come I was offered around £20000 of credit on a credit file with 6 settled defaults 13 months after becoming deft free and an internal score of 1a

Thanks for reading

Fifi:)

The_Boss

The credit file score is worthless as you have rightly said.

The bank are assessing you on details they hold and your behaviour. From good management of existing accounts they score you as a low risk.

stu2500

Exactly as above, the bank will have their own scoring system made up of account conduct on your existing accounts.

CherlokHomes

fifidfw wrote: »

Good afternoon all.

After logging off internet banking the other day, I received an email saying there was an error with my account and to click the link below. I'm happy to say I didn't and the next day popped into my local branch to let them know. While I was there, I also asked if I could make an appointment to see someone about improving my credit rating ( I know they are not worth the paper they are printed on ) as I've been debt free for just over a year.

He took my bank card and checked something on the customer services desk. I was then taken into one of the interview rooms where a personal advisor was waiting for me. After a general chitchat, she then looked on her computer said my credit report looked fine and had an internal score of a 1a, I was offered a credit card @ 13 months interest free with a healthy credit limit an overdraft and a loan. I took the credit card. It's mainly to be used for shopping, fuel etc and all cleared within the month. If I do not have the money in the bank account the credit card will not be used.

What I'm wondering is, how come I was offered around £20000 of credit on a credit file with 6 settled defaults 13 months after becoming deft free and an internal score of 1a

Thanks for reading

Fifi:)

Who offered you 20k of credit???

tinkerbell28

20k of credit with 6 recent defaults and settlements :eek:

fifidfw

I was shocked my self. At least 4 defaults will remain on my file till 2016 at the earliest.

I was offered a 10k loan which I declined, 2k overdraft which again I declined and a credit card with an 8k limit which I accepted for uses as explained in the original post and it will be paid off every month

Fifi

fifidfw

Innovate wrote: »

Who offered you 20k of credit???

The personal adviser at the bank

Fifi

CherlokHomes

fifidfw wrote: »

The personal adviser at the bank

Fifi

Is that lloyds?

fifidfw

Innovate wrote: »

Is that lloyds?

Yes

Fifi