no switchin so now i'm !!!!!in !

bxboards

skids12 wrote: »

thought i'd take martin's advice and switch BUT ! apparently because I nor my partner have no credit history ( neither good or bad ) we can not switch

I've no idea who Martin is, but when you are applying, are you also asking for an overdraft?

I've done a couple of switches lately (Halifax and TSB) and I never ticked the 'overdraft' boxes (don't need one) - I can't see any sort of credit checks on my credit files, just ID checks. I imagine if I'd requested an overdraft I'd been credit checked though.

YorkshireBoy

bxboards wrote: »

I've done a couple of switches lately (Halifax and TSB) and I never ticked the 'overdraft' boxes (don't need one) - I can't see any sort of credit checks on my credit files, just ID checks. I imagine if I'd requested an overdraft I'd been credit checked though.

That's unusual, unless you were already an existing customer. Did you check all 3 CRA files? It's not unusual for a bank to make a full search on one CRA and soft searches on the other 2 CRAs. For example, I opened a lot of current accounts earlier this year and Noddle (CallCredit) only contains soft searches of the ID Enquiry type.

bxboards

YorkshireBoy wrote: »

That's unusual, unless you were already an existing customer. Did you check all 3 CRA files? It's not unusual for a bank to make a full search on one CRA and soft searches on the other 2 CRAs. For example, I opened a lot of current accounts earlier this year and Noddle (CallCredit) only contains soft searches of the ID Enquiry type.

No, not an existing customer with any of Clydesdale, Halifax or TSB who I've switched to this year.

I can see ID check entries but nothing that looks like a credit check. I use Noddle and Clearscore so I can see Callcredit and Experian and I definitely only have ID / address check entries. I suppose it's possible they are doing a full search on the remaining agency.

No credit checks showing doesn't surprise me though, I'm in not taking credit so I wouldn't expect to be credit checked as a matter of course, and I always explicitly tick I don't want an overdraft. I would assume (and I could be wrong) that requesting an overdraft would be the cause of a full credit check.

YorkshireBoy

bxboards wrote: »

I use Noddle and Clearscore so I can see Callcredit and Experian and I definitely only have ID / address check entries.

Clearscore is Equifax isn't it?

I suppose it's possible they are doing a full search on the remaining agency.

I concur...and that would be Experian, the most commonly used agency.

No credit checks showing doesn't surprise me though, I'm in not taking credit so I wouldn't expect to be credit checked as a matter of course, and I always explicitly tick I don't want an overdraft. I would assume (and I could be wrong) that requesting an overdraft would be the cause of a full credit check.

No. Full feature current account applications, whether with an overdraft facility or not, normally result in a full credit search...at least in my experience.

masonic

bxboards wrote: »

No credit checks showing doesn't surprise me though, I'm in not taking credit so I wouldn't expect to be credit checked as a matter of course, and I always explicitly tick I don't want an overdraft. I would assume (and I could be wrong) that requesting an overdraft would be the cause of a full credit check.

Most current accounts will provide a facility for overdraft (i.e. an unauthorised overdraft) even if you don't request an arranged overdraft, so most involve a credit search when you apply.

bxboards

masonic wrote: »

Most current accounts will provide a facility for overdraft (i.e. an unauthorised overdraft) even if you don't request an arranged overdraft, so most involve a credit search when you apply.

Surely an unauthorized overdraft is the same as a bank failing to decline a transaction that would otherwise put you into a negative? I can't see the use in a credit check in that scenario. I always prefer to have a card or transaction declined rather than go overdrawn unwillingly.

I can see the point in a credit check for an agreed overdraft, but they seem utterly pointless for an unathorised overdraft facility! I'm not convinced.

masonic

bxboards wrote: »

Surely an unauthorized overdraft is the same as a bank failing to decline a transaction that would otherwise put you into a negative? I can't see the use in a credit check in that scenario. I always prefer to have a card or transaction declined rather than go overdrawn unwillingly.

I can see the point in a credit check for an agreed overdraft, but they seem utterly pointless for an unathorised overdraft facility! I'm not convinced.

They need to be able to provide that "facility" in case their fees take your balance into the negative. Unpaid transactions can do that and they need to know you are not at risk of running up such fees and then not paying them.

bxboards

YorkshireBoy wrote: »

Clearscore is Equifax isn't it?I concur...and that would be Experian, the most commonly used agency.No. Full feature current account applications, whether with an overdraft facility or not, normally result in a full credit search...at least in my experience.

Fair enough, I've not checked Experian as I don't care enough to pay for them. Too be honest I find credit scores and that sort of thing pretty worthless and while I'll use Noddle and Clearscore now and again I wouldn't pay for them.

eskbanker

bxboards wrote: »

I've no idea who Martin is

See clue at the top of each page on here:

Eco_Miser

bxboards wrote: »

Surely an unauthorized overdraft is the same as a bank failing to decline a transaction that would otherwise put you into a negative?

Banks are not always able to decline a transaction - even on accounts specifically designed not to go overdrawn, the bank explicitly do not guarantee that they won't.