What bank account to match my credit rating?

dtaylor5632

I am wanting to know if I would be able to get a bank account with a credit rating of 803. Some years ago I had some defaults that thankfully the majority are now paid off hence the great improvement in my credit score. I have been using a pre-paid bank account and I am looking to move back to a regular bank account but unsure if I can do this with current fair credit score of 803. What would your advice be?

Tixy

Nobody will see that credit score except you.

What they will see is the raw data from your credit file.
Do some of the defaults still show on your file? and are some of them still unpaid?
Do you have any current non-defaulted up to date credit agreements?

dtaylor5632

There are 2 companies that remain as defaulted. Both claim not to have me on record any longer as they have changed companies ect. Very annoying as its almost impossible to get them off my file.
i have quite a few fully paid and settled. And a few up to date non defaulted agreements.

downhillfast

I'm not entirely sure what a pre-paid bank account is... does it mean the card you use has to be loaded and funds kept separately from your account balance? If so I can imagine this is a bit of a pain.
When you say you want a proper bank account what facilities are you actually referring to? If you don't require an overdraft facility or cheque book then you could quite easily (I would imagine) get a basic account with either Barclays or Cooperative - they allow bankrupts to have these accounts so your situation should be ok.

Should you require OD and CB then you may struggle with 2 defaults... although you may be surprised. I might be tempted to research some accounts thoroughly and decide on ONE to apply for and then cross my fingers and hope for the best. This of course will leave a footprint on your credit file so it's a bit of a gamble... but even with one search on there I would be surprised if you couldn't then get a basic account as listed above.

Good luck :beer:

dtaylor5632

Bit late but thanks.

It turned out Barcleys wouldnt offer me an account, despite me having satisfied all outstanding defaults ect.
Bit of a bummer but I will have to just continue with the pre-paid account I have now

Candyapple

dtaylor5632 wrote: »

Bit late but thanks.

It turned out Barcleys wouldnt offer me an account, despite me having satisfied all outstanding defaults ect.
Bit of a bummer but I will have to just continue with the pre-paid account I have now

Did you do as the user above you posted and apply for a basic bank account or did you just try and apply for a normal current account? There is a difference between the two.

http://www.moneysavingexpert.com/banking/basic-bank-accounts

dtaylor5632

Tried for the basic account

solentsusie

dtaylor5632 wrote: »

There are 2 companies that remain as defaulted. Both claim not to have me on record any longer as they have changed companies ect. Very annoying as its almost impossible to get them off my file.
i have quite a few fully paid and settled. And a few up to date non defaulted agreements.

Hi

You may get a bit more advice if you are a little more explicit about your situation. How many defaults are still showing on your credit file? How old are they and are they for large amounts? The older they are the less impact they will have.

I managed to get a Nationwide FlexDirect account with five defaults on my file 18 months ago. I now only have three, the youngest from 2012, and I also managed to get a Barclaycard in January. Have you tried Natwest or RBS? They are both relatively easy to get accounts with.

I am sure there may be other options open to you than just a prepaid account unless your credit history is extremely terrible. Have you applied for basic accounts or normal standard current accounts? You should ask for a basic account if you have been refused a standard current account. Barclays automatically offered me the basic account when I was ineligible for their standard current account when I applied online.

Good luck.

Tixy

Is it just barclays that have declined you for an account? or elsewhere as well?

A couple of old defaults shouldn't on their own prevent you from getting accepted for a basic bank account. Did you get copies of your credit files from each of the 3 credit reference agencies? Did they all show similar information?