TSB Current Account Overdraft refused twice in three days.

Yorkshire_Pud

I usually get an overdraft no problem with any bank I've opened an account with. Only exception in the last few years has been HSBC because I wasn't offered one at account opening so now the computer says no for three months and no human can overule it, until I prove my ability to run the account responsibly (although they offered me a loan instead that I don't require).

My reason for a planned overdraft is to provide a buffer and avoid charges if I make a mistake and go overdrawn.

I opened a TSB Classic Plus account about two weeks ago and in online banking there is an 'apply for overdraft' message which I clicked on couple of days ago, filled in the form and asked for £100 OD and was refused because I didn't meet the credit threshold. I tried again two days later and same thing happened.

I have never seen my credit rating/report from a CRA like Experian, is it worth signing up to a free trial and is it easy to cancel later?

Am I harming my chances of acceptance by keep applying for this modest OD?

As I haven't been refused by other banks when applying for an OD, I wonder if its just a TSB thing and I don't meet their criteria at this moment? Or maybe I've maxed out my credit worthiness now having been on a spree this year of opening accounts and I usually ask for an overdraft.

Have for the first time received three high APR credit card offers in the last few months :cool:

Thanks for any help or advice.

Ed-1

Yorkshire_Pud wrote: »

I usually get an overdraft no problem with any bank I've opened an account with. Only exception in the last few years has been HSBC because I wasn't offered one at account opening so now the computer says no for three months and no human can overule it, until I prove my ability to run the account responsibly (although they offered me a loan instead that I don't require).

My reason for a planned overdraft is to provide a buffer and avoid charges if I make a mistake and go overdrawn.

I opened a TSB Classic Plus account about two weeks ago and in online banking there is an 'apply for overdraft' message which I clicked on couple of days ago, filled in the form and asked for £100 OD and was refused because I didn't meet the credit threshold. I tried again two days later and same thing happened.

I have never seen my credit rating/report from a CRA like Experian, is it worth signing up to a free trial and is it easy to cancel later?

Am I harming my chances of acceptance by keep applying for this modest OD?

As I haven't been refused by other banks when applying for an OD, I wonder if its just a TSB thing and I don't meet their criteria at this moment? Or maybe I've maxed out my credit worthiness now having been on a spree this year of opening accounts and I usually ask for an overdraft.

Have for the first time received three high APR credit card offers in the last few months :cool:

The decision is based on which risk band you stand in TSB's internal scoring system. They use the same risk system as Lloyds and HBOS but Lloyds/HBOS data is not used in determining your TSB risk band. If you hit TSB with a subject access request you can actually see a screen with you approved overdraft limit. It looks like yours is Nil at the moment. The reason for this (which is also shown on that screen) is likely to be 'Credit Bureau Data'.

starM

OP - If you were eligible for an overdraft they would have offered you when you applied for TSB account.

When I applied online it gave me 1k overdraft straight away although I went ahead with £250.

I guess you will have to wait 3-6 months. I did rang the phonebank to see if I am eligible for credit card but no offer showing on the account at the moment.

I asked what score band I am but they will not provide that information over the phone.

Anyone know what date TSB updates the score on the system?

MS