Banks internal customer score????

mikeyboy

Hello,

Can anyone shed any light on the following:

I understand that most banks operate an internal customer credit score, which builds up/down depending on the operation of the current account.

Do the banks use this to decide on offering extra facilities, loans etc, or do they always carry out an outside check with experian/equifax???

I am with RBS, does anyone know how their internal score system operates?

Many thanks in advance
Mikeyboy

jonesMUFCforever

Don't know about RBS but other banks do as you have stated.They will conduct a search when you do a formal application for a loan or credit card.
Overdrafts are done by the internal score but they do search your credit file on a monthly basis IMO.
Any bad info will put a stop to all new lending.

natweststaffmember

the answer is yes a credit policy is made but for you specifically it will be based on factors which include external credit reference agencies.

mikeyboy

natweststaffmember wrote: »

the answer is yes a credit policy is made but for you specifically it will be based on factors which include external credit reference agencies.

Hi thanks for your reply. Does the internal score change regularly? ie: month to month? Upon a loan or cc application do they always seek external info?

Thanks
Mikeyboy

jonesMUFCforever

mikeyboy wrote: »

Hi thanks for your reply. Does the internal score change regularly? ie: month to month? Upon a loan or cc application do they always seek external info?

Thanks
Mikeyboy

I think that was what I said in post 2.
Sorry if it was not clear enough.