M & S Current acount

ronbell101

My son (19 year old) applied for an M & S Current account,he has just started (had a current account for over 2 years) getting a "credit File" he has 2 current accounts and a Credit card.
He was rejected for the M & S Account for a reason that I find strange
The letter informing him of the rejection read
"Although your credit score was acceptable, when we consulted a credit reference agency, the information they hold relating to you, or someone with whom you have a financial link resulted in us rejecting your application"
"you have a right to see all the information the credit reference agencies hold about you..........."
"we recommend that you request any person(s) with whom you have a financial link to do likewise.They will be named on your credit reference file"
His credit file shows no financial associations with any one
I thought it could be me but he has "earned" his credit file on his own opening his own bank accounts and his own credit card and keeps them in good financial standing
any ideas what to do ?

YorkshireBoy

ronbell101 wrote: »

His credit file shows no financial associations with any one

There are 3 credit reference agencies. Unless M&S told him which one they'd searched he should probably check the others too.


If he's clear of financial associations on them all, and if he still wants the M&S account, then he should appeal the decision stating there's no financial association present, and possibly including copies of the relevant sections of his reports as evidence.

ronbell101

ok he written to M & S asking where the association came from and which credit reference agency

meer53

ronbell101 wrote: »

My son (19 year old) applied for an M & S Current account,he has just started (had a current account for over 2 years) getting a "credit File" he has 2 current accounts and a Credit card.
He was rejected for the M & S Account for a reason that I find strange
The letter informing him of the rejection read
"Although your credit score was acceptable, when we consulted a credit reference agency, the information they hold relating to you, or someone with whom you have a financial link resulted in us rejecting your application"
"you have a right to see all the information the credit reference agencies hold about you..........."
"we recommend that you request any person(s) with whom you have a financial link to do likewise.They will be named on your credit reference file"
His credit file shows no financial associations with any one
I thought it could be me but he has "earned" his credit file on his own opening his own bank accounts and his own credit card and keeps them in good financial standing
any ideas what to do ?

They're not saying he has an association, it says You OR someone with whom you have a financial link with.

ronbell101

does that mean that the association is "bad" and how does he find out who the "bad" association is ?how does this happen he only has his family members and I do not know if we are "financially" associated...if it is a member of the family we all have good credit scores and up to now have had no rejections for any financial products that we have applied for

ronbell101

if the rejection is not because of an association then how does he find out if it is himself that has caused the rejection?by opening an account with all 3 credit reference agencies ?it does state that his credit score was "acceptable"

grumbler

MSE articles:

• Credit Scores
• Check your credit file free

meer53

To be financially associated with someone he would have to have had joint accounts with someone. If he's never had any joint accounts then the information must be on him. The credit file will show the information which has caused the rejection. A lack of credit can also cause a rejection. Does he work, what is his salary, what is the limit on his credit card, what is the balance on his card, does he only make minimum repayments, has he ever missed any payments, etc.

Do you know for sure what his financial situation is like ?

grumbler

meer53 wrote: »

To be financially associated with someone he would have to have had joint accounts with someone...

...or just applied for a joint account.

The credit file will show the information which has caused the rejection.

You say like it will be obvious that often isn't the case.

ronbell101

he has never had a joint account,has one credit card with a limit of £200 which he opened to "get a credit file history" he pays the full amount every month(had it for 3 months) he is a student and gets an allowance from me and his mum he has a santander current account which he has had since leaving school and makes occasional debit card payments and has just opened a Halifax reward account (after the M & S rejection)
I know his financial situation 100%

System

If Halifax have recently accepted him for a Reward account, it doesn't sound like something untoward on a credit file.

Have you considered that M&S Bank might simply have rejected him because he doesn't fit with their target demographic?