Getting a new account

Banking_nightmare

I have checked my score on experian which is 874, I have a ccj dropping off tomorrow and then 2 defaults for a total value of £140 both 4 years old.

I am looking to get my first bank account for 5 years since getting in trouble with debt i have had my wages paid into my wifes account.

Will i be able to get a standard current account with 2 old defaults but a high scoring elsewhere? my total debt on my score is now under £200.

Thanks in advance

Banking_nightmare

In addition 5 years ago my score was 225 so has risen a considerable amount

welshiex

Unfortunately the numbers that are given by such websites are completely useless when it comes to how a lender will look at you but your situation seems nearly resolved with the debt so I would probably think you shouldn't have much trouble finding a bank that will give you a standard account! Good luck and well done on getting back on track!

Banking_nightmare

Thanks! its taken a while! my only concern is the defaults as i know they can often stop people getting current accounts or is this a myth haha

20aday

Banking_nightmare wrote: »

Thanks! its taken a while! my only concern is the defaults as i know they can often stop people getting current accounts or is this a myth haha

Given the age of your defaults (someone will probably have to correct me on this!) I'd have thought you are more likely to qualify for a bank account than you were a few years ago.

Have you considered a "Basic Bank Account" at all? You can set up Direct Debits etc but you can't go overdrawn on them.

I used to have a NatWest Step Account and once my credit file started to improve I managed to get a Current Account with cheque book etc.

welshiex

The defaults are of an age now really so I don't think they'd have to big of an impact for you, just out of curiosity you said they're of £140 value is that settle or still owed? That the not problem takes two second to spend and years to settle! Bet you can't wait to start the countdown for the drop off date for the defaults either! Total fresh start then

Banking_nightmare

They are the last 2 to be settled , I have only just gone back onto experian to check so i will settle them in the next month or so when i have some spare dollar!

I thought about a basic bank account but now have a much better job than years previous and would like the full benefits of a standard account ( home insurance , mobile insurance, breakdown ect ect for £10- £15 a month ) I have no intention of running up and further debt!!

thebritishbloke

If you're going to settle them in a month, you're going to be waiting at least 3 months before they're marked as satisfied on your report.

What you're describing is not a standard account, but actually a premium paid account. I highly doubt you'll get one that includes Home, Phone and Breakdown cover for £10-15 a month...

Banking_nightmare

It's been that long since i had an account of that stature, Ok no problem well id be happy with a standard account although i wouldn't mind paying for a premium if i could get one. Also i will be looking for a joint account on top of this with my wife

SeduLOUs

I have a default on my file that is about 3 years old and was accepted recently for the Santander 1-2-3 account, although they wouldn't give me an overdraft or credit card...

Banking_nightmare

Great there should be hope then, I guess it will be in my favor i have no debt either!