Problem with application TSB

Peter95

Hello, why TSB refused my application? they offering me a cash account ...I have no idea why that happened. I'm 20 years old. I'm working FULL Time , I'm not a student. Could you please explain me why they refused application?:sad:

GTR_King

Have you been in debit before??

You ever been bankrupt/had a default before??

need to check your credit file...

to see if there is any negative stuff on it...

Peter95

No I haven't been a bankrupt ( never ) and I have never had a debit before. I have no idea about credit score . Help me with this please and thanks

Archi_Bald

Check out noddle.co.uk. No need to buy anything there, just use the free version. Ignore the credit score, but check whether you have any defaults or other markers, financial associations, whether your address is correct and whether you are on the Electoral Register.

Dird

Did you apply for a Classic or Classic Plus? If Classic then it's basically the same as a cash account anyway.

Do you already have a bank account with someone else? If so you should register on Quidco/TCB if you aren't already and take advantage of the 30 day free trials at Experian & Equifax and see what that is showing up against you. You'll get about £12.50 cashback too :-o you could always register via my referral link to share the love

Maybe the report will show something you're not expecting. Experian was fine for me but Equifax are referencing my dad's (same forename & surname) phone contract! This despite the fact it was started when I was like 6 years old and has his middle initial (which I don't have)

Peter95

What is a difference between Cash account and Classic account? I applied for a Classic account.

Dird

Peter95 wrote: »

What is a difference between Cash account and Classic account? I applied for a Classic account.

No contactless option with the card (always have to enter pin) & the chance of a £25 planned overdraft. Cash account already allows a free £10 unplanned OD (same as classic account) so no big deal.

http://www.tsb.co.uk/current-accounts/compare-bank-accounts/

I'd just accept it if you only wanted Classic. Classic Plus provides 5% interest, Classic & Cash provide nothing.

Still worth looking at your credit reports though. Maybe they're looking to put people on either Classic Plus or Cash and remove the Classic as it's essentially the same but I'm just sticking my finger in the air

Peter95

Account for my salary. Thanks

Archi_Bald

TSB Cash account: http://www.tsb.co.uk/current-accounts/cash-account/

TSB Classic account: http://www.tsb.co.uk/current-accounts/classic-account/

One of the main differences will be charges: http://www.tsb.co.uk/current-accounts/banking-charges-brochure.pdf

Comparison table: http://www.tsb.co.uk/current-accounts/compare-bank-accounts/?WT.ac=PSR_PCA_002

What do you want the account for? Does the cash account do what you need it to do?

Archi_Bald

Peter95 wrote: »

Account for my salary. Thanks

A cash account can receive a salary, like all other accounts.

If you run the account without problems, you can ask for an upgrade to Classic / Classic Plus in about 6 months time.

Peter95

can I pay by this account on internet ? it's there a direct debit?