Refused a Current Account but Given a Credit Card - Can I appeal ?

gettingthere28

This is a bit bizarre (Well I think so anyway), Decided to get a new Credit Card, liked the look of the NatWest one and was accepted with a £5700 limit. Then decided to apply for a Current account and as part of the online application was given a £3500 Over Draft limit, had to send some bank statements etc into them and then after 3 weeks they said NO, never given a reason etc just 'You don't meet our criteria, but if you do in the future you are welcome to reapply etc. Of course they did not tell me what the criteria was that I did not meet.

Now I have a good Job, plenty of savings, a Amex and Mastercard which is paid of in full for the last 3 years, other current accounts (Used for Savings such as TSB, Lloyds, BofS etc), and the current account statement I sent them (Lloyds) had a high balance never overdrawn etc.

I am thinking of complaining mainly because it took them 3 weeks to tell me it was a NO, even though they asked me to send them everything but the Kitchen Sink !, tons of phone calls and documents to them that I had to send Recorded delivery at my own cost, I am not after any form of compensation for that just an answer.

I feel personally (And I could be wrong) that it was the Overdraft limit, of £3500 coming so soon after being granted £5700 on their Credit card, and all my other Cards (Such as the Amex) have high limits (Even though they are cleared every month), so maybe they thought it was too much of a risk. So they declined it.

Is that possible and if I were to apply for the Current Account again but refuse the Overdraft would that go through ?.

Just looking for thoughts really.

Thanks

Archi_Bald

They probably did do you a big favour as the Natwest current account is one of the lamest current accounts on offer. Check here for better accounts.

Though perhaps you should take it easy on the amount of overdraft you are asking for - - all banks will be looking at the total credit available to you (credit cards etc included), and decline your application if they feel you are too big a credit risk. What would you need a £3.5K overdraft for, anyway, if you are able to pay your cards in full each month? Overdrafts are one of the most expensive ways of borrowing money.

gettingthere28

Archi_Bald wrote: »

They probably did do you a big favour as the Natwest current account is one of the lamest current accounts on offer. Check here for better accounts.

Though perhaps you should take it easy on the amount of overdraft you are asking for - - all banks will be looking at the total credit available to you (credit cards etc included), and decline your application if they feel you are too big a credit risk. What would you need a £3.5K overdraft for, anyway, if you are able to pay your cards in full each month? Overdrafts are one of the most expensive ways of borrowing money.

Thanks for that, but just to clarify I did not ask for the Overdraft, and to be honest I would never use it, it was just offered as part of the application process, and perhaps stupidly I did not say no to it.