Neither HSBC or Lloyds will give me an OD!

Richiebow1

Hi,

I have a Silver Vantage account so effectively will get £50 interest free OD. This Is all ive ever attempted for and it's immediately rejected on the website despite having my wages going into the account, like I say when I ask a rep over the phone they don't even run me through an application. This also applies to when I ask in branch.

Barclaycard balance is zero as used very rarely

Amex balance is currently £250 but this being a charge card it is cleared in full every month.

Car finance has about £5,000 outstanding from a starting balance of £9,500, Finance is 0% APR.

I fully registered on the ER as I've lived at my current adress 7 years, I do really think its the Credit policy decline nonsense that's causing this issue. In terms of trying a Loan, when I tried with Lloyds this was also immediately declined.

Richiebow1

I've spoken to Lloyds and apprently "there's nothing stopping an application that I can see" but then When I ask he says theres no credit facilities available to me. Going to book an Appt to speak to someone in branch about this.

Cash_Flow

Richiebow1 wrote: »

I've spoken to Lloyds and apprently "there's nothing stopping an application that I can see" but then When I ask he says theres no credit facilities available to me. Going to book an Appt to speak to someone in branch about this.

How much do you have left at the end of the month on average?

Maybe you don't show enough affordability to be offered an overdraft at this moment in time.

Richiebow1

Well I pay £164.79 per month for my Car finance and roughly around £400 a month to my Amex with it being a charge card, as well as £200 to my parents for board. Having £1,800 a month roughly coming in I dont think affordability is an issue.

Cash_Flow

Richiebow1 wrote: »

Well I pay £164.79 per month for my Car finance and roughly around £400 a month to my Amex with it being a charge card, as well as £200 to my parents for board. Having £1,800 a month roughly coming in I dont think affordability is an issue.

As per my question how much do you have left at the end of the month;)

Are you close to the limit on your Barclaycard?

Richiebow1

Hi, Well I rarely use the barclaycard so most months theres a zero balance. after bills are paid I have around £900 left to spend, of which I just use on new clothes and things for myself.

I assume its due to me spending the money in my account on treats for myself that's showing no affordability in my account?

Cash_Flow

Richiebow1 wrote: »

Hi, Well I rarely use the barclaycard so most months theres a zero balance. after bills are paid I have around £900 left to spend, of which I just use on new clothes and things for myself.

I assume its due to me spending the money in my account on treats for myself that's showing no affordability in my account?

It could be.

I would suggest you start leaving some money in your account, that way your bank will know that your salary is sufficient to support further Borrowing.

BMN

Richiebow1 wrote: »

Hi, Well I rarely use the barclaycard so most months theres a zero balance. after bills are paid I have around £900 left to spend, of which I just use on new clothes and things for myself.

I assume its due to me spending the money in my account on treats for myself that's showing no affordability in my account?

That's probably it.
Lloyds have a system which makes use of a monthly CRA feed and an assessment of your account conduct (including how much extra it thinks you can afford per month to work out credit limits etc.).

The reason they won't let you proceed with an application is because they already know that the system will just say no.

For you info: CPD is not a marker applied to your account. It's a reason the system gives when your account conduct is preventing you from having a credit facility.

CherlokHomes

As above you'll need to ask lloyds what lending products you're CPD on.

If you're CPD on overdrafts the chances of this changing is very slim and this would've been set try same date you were accepted for your account.