Basic Bank Account Declined

mightyroyals

Hi

I applied for a cash card account with Lloyds tsb the other week but just got a letter saying I have been declined for the account due to not meeting their credit score.
My understanding was as long as you are not undischarged bankrupt or have links to crime of fraud you would be accepted.

The only thing I can think of is I have only been in my new house for 2 months could that affect the decision as I am at a loss as to why I have been declined for a bank account that is meant to be for anyone??

Any help would be appreciated

dr_adidas01

mightyroyals wrote: »

Hi

I applied for a cash card account with Lloyds tsb the other week but just got a letter saying I have been declined for the account due to not meeting their credit score.
My understanding was as long as you are not undischarged bankrupt or have links to crime of fraud you would be accepted.

The only thing I can think of is I have only been in my new house for 2 months could that affect the decision as I am at a loss as to why I have been declined for a bank account that is meant to be for anyone??

Any help would be appreciated

Sadly you're under the illusion this account is for anyone. I'm afraid banks can chose whether they want to open an account or not.

You don't have an automatic right to have an account just because you want one.

If you have not met the credit score criteria for this account then I would suggest getting your credit report from all 3 CRA's and see what is on them, before you think of trying to open an account with another financial institution as if there is something nasty on it they to will decline an application.

There is obviously something Lloyds have seen and don't like hence the decline of the account.

Archi_Bald

mightyroyals wrote: »

The only thing I can think of is I have only been in my new house for 2 months could that affect the decision as I am at a loss as to why I have been declined for a bank account that is meant to be for anyone??

Are you on the Electoral Roll at your current address?

What do your CRA records say about you? Do you have any markers for missed payments?

YorkshireBoy

Archi_Bald wrote: »

Are you on the Electoral Roll at your current address?

If you're not, then you need to get a move on so you can catch the 'rolling register'.

Failure to act quickly will mean your details will not be fed to the CRAs until after 1st December (once the annual canvas, which begins in August, has been completed).

That said, surely you were registered at your previous address? If so, and you entered these details at the bank, then you should be able to take some utility bills, and other ID, in to support your application.

Unless, as suggested above, there's something lurking on your CRA and/or FPA files that you don't know about or haven't divulged here?

Archi_Bald

YorkshireBoy wrote: »

......Failure to act quickly will mean your details will not be fed to the CRAs until after 1st December

Are you sure? It's not even end of July - - -- - - - surely there is no way it would take the CRAs 5 months to update their records?

YorkshireBoy

Archi_Bald wrote: »

Are you sure? It's not even end of July - - -- - - - surely there is no way it would take the CRAs 5 months to update their records?

1st August to 30th November is 4 months.

It's the electoral services that don't send the information during that period, rather than the CRAs not updating your file.


http://www.experian.co.uk/consumer/questions/electoral-roll/electoral-roll-1.html

mightyroyals

hi not on roll yet but did send off today but also was on roll at previous address. all three cra show nothing on cifas and have never been bankrupt or any ccj but I do have a few defaults

pmduk

Have you ever defaulted with a Lloyds TSB Group company?

mightyroyals

pmduk wrote: »

Have you ever defaulted with a Lloyds TSB Group company?

I don't think I have had any products from them tbh I know my other half has but I have not.

dr_adidas01

mightyroyals wrote: »

hi not on roll yet but did send off today but also was on roll at previous address. all three cra show nothing on cifas and have never been bankrupt or any ccj but I do have a few defaults

I think that's your answer the defaults wont help at all. Lloyds TSB and any other organisation will look at that and think no way. Whats to stop them defaulting on us!!!