Tsb internal credit scoring

Chrisj000

Hi,I was wondering if anyone could shed some light on how Tsb do there internal credit scoring,I have had the account for around 7 months (silver enhance) with no overdraft.i put around £1500 in the account every month and use it as my main account for direct debits etc,I applied online for a £100 overdraft as a kind of buffer and have been declined even though it has been run well and pay into a savings account every month.what I have looked around the forum for ideas and have read about the lloyds 1-9 score and cpd marker and want to know if Tsb use the same system,also what date Tsb do ther monthly update in know lloyds is around 21st of the month.thanks in advance

maas

Check if it lets you update your account online or does it say something along the lines of "Sorry we cant update your account", and also check the interest rate they offer you for loans. Thats usually an indicator if they're all 20%+.

Do you have lots of betting transactions on your account?

thebritishbloke

TSB probably will use the same or a very similar system.

They'll score you internally on hundreds of factors. Average balance, type of spending (gambling transactions are a big no no), net balance each month (your income minus your spending), and god knows what else.

Sometimes staff in branch will be willing to show you your score, but only if you're there for another reason and you happen to ask about it. HSBC did this for me.

colsten

They don't just use the internal data they have about you, they will be looking at your credit history and also take into account existing credit you have elsewhere.

Chrisj000

Thanks,I never bet so it's not that I was able to upgrade which I did a while back to silver,my credit file is not to bad a couple of missed payments 2 years ago all up to date since,I have not long moved house,I informed them straight away and gave them new home phone number I'm thinking that maybe the problem

CKhalvashi

They're maybe looking at what's going out on the average month with the new house for few months, before offering anything.

I know someone (with Barclays) that can get a £25k loan, but was refused for a credit card with low limit with them, despite having a regular £2k monthly going into the account, very few expenses (mortgage paid, so food/CT/bills) and well IEO £60k of savings with them.

Sometimes the decisions make no sense, but they've obviously built up a risk assessment for a reason, based on other accounts.

MABLE

maas wrote: »

Check if it lets you update your account online or does it say something along the lines of "Sorry we cant update your account", and also check the interest rate they offer you for loans. Thats usually an indicator if they're all 20%+.

Do you have lots of betting transactions on your account?

Interesting you say that about loans. Only use TSB for the savings element and keep £2000 in the account. I have played around with their calculators and they indicate a loan rate of 23%. However I use Lloyds Bank as a main account and their indicative rate for me is 4.2% and the same with Nationwide bs.

Chrisj000

MABLE wrote: »

Interesting you say that about loans. Only use TSB for the savings element and keep £2000 in the account. I have played around with their calculators and they indicate a loan rate of 23%. However I use Lloyds Bank as a main account and their indicative rate for me is 4.2% and the same with Nationwide bs.

Just done a loan quote came back as 27.9%.

ceredigion

I'm in for 29.9%:eek:
on the home page it say's 4.9%.

maas

I'm the same.

I dont pay anything in and I have betting transactions on it so they wont touch me with stolen money even though credit record excellent.

NB: Although their credit card department must be completely independent as I've just had my CC limit raised without asking (I do use it sensibly).

maas

Payday loan transactions on your statement will probably be another alarm bell for their internal score