First Direct current account

martley

Here's the craziest thing. Two years ago I applied for a First Direct account and was turned down. I said then I couldn't care less and I've had my banking needs satisfied elsewhere with no issues. Then a friend who is with FD has some kind of recommendation cards whereby he gets a cash incentive if someone he knows gets an account with FD. I get a cash bonus of £125 too if they say yes to me. He asks me and I say ok and FD now give me an account no problem at all. Plus they give me a credit card with 5k on it. Yet my financial situation is actually worse than two years ago with a new mortgage and recently moving house. Who can make sense of these decisions? The banks are a law to themselves. And to add to it all Noddle give me a rating of 1 out of 5 saying I will get turned down for credit the majority of times.

wrkactjob

Banks lending criteria is constantly changing, before you could have missed out by a couple of points, this time you may have passed by a couple.

These things are all controlled by algorithmic computer programs and are not personal decisions, don't take the previous turn down personally and rejoice that you now have a chance to make your credit record even stronger by responsible use of the credit card and account.

martley

I've never taken any credit decision personally and never give it a second thought. FD are the only people who ever turned me down previously.

Thrugelmir

Any Bank at any time could have a particular policy with regards to opening accounts etc. Hurdles are often or lowered depending on level of applications. As there's a physical processing aspect to be factored in.

martley

I think what this prices once and for all is that credit scores are overall totally irrelevant.