Length of time with bank - effect of applying for further products with them

book12

A few weeks ago, I opened a savings account with a bank. So far the length of time as a customer with the bank is less than a month. So I'm not a customer who have banked with them for many months/years.

I am thinking of applying for a credit card and a bank account (without overdraft) with them. I do have other credit cards and bank accounts with other banks for years though.

What is the chance of getting accepted for a bank account (without overdraft) and/or credit card if I haven't been a customer with the bank for a long time?

I do understand they check the CRA's when I applying for a bank account and credit cards.

YorkshireBoy

In my opinion, your chances of acceptance for those products are the same whether you have a savings account there or not.

Kim_13

The bank account without overdraft should be no problem, but you might increase your chances of acceptance for the credit card if you open a current account there and run it well for a few months.

20aday

In my own experience I opened a Club Lloyds account back in March 2014. Applied for the Choice Reward card and was declined.

Ran the account for six months, tried again, and was successful.

So as PP says run the account well for a while and then try.

book12

Thanks for the input guys.

I was thinking of applying for the credit card first, as I need it more than the bank account.

I have now read some threads on the forum that customers got accepted for a credit card without having a savings account, bank account or any other product with the bank.

Also I'm thinking if I should I try my luck and apply for the credit card first? Or apply through my online banking account for a credit card and bank account account the same time/day, or one after the other on the same day/a few minutes later after the other? Would it be suspicious if applying for a bank account and credit card one after the other on the same day with the same bank?

Why do banks prefer to see bank account activity for at least 6 months before accepting a credit card application of the customer? Can't they see the credit history of the customers cuurent/previous credit card history through CRA's when applying?

YorkshireBoy

Which bank is it?

book12

YorkshireBoy wrote: »

Which bank is it?

TSB.

Out of curiosity, why do you need to know?:o

YorkshireBoy

book12 wrote: »

TSB.

Out of curiosity, why do you need to know?:o

I don't "need" to know. It was to try and help get you better responses. Too many people on here ask questions without revealing the provider's name (as if it's some big secret), where doing so generally procures better help and advice...rather than generic guesswork and opinion.

In other words, it was for your benefit.

Anthorn

In my opinion, being a customer of a bank does not influence their decision on whether to approve further product applications. Their aim is to make a profit from you and they will sell you whatever they can to achieve that aim while reasonably ensuring that you will likely keep to your end of the bargain.

We like to think that being a long-standing loyal customer is beneficial to us but really it isn't. It's just that we are captives.

Dan83

They don't care how long you have banked there, all they are worried about is your ability to repay.

Dobbibill

With TSB, do you know you can turn on online marketing messages in your Internet Banking settings? That will potentially give you an indication of anything you are eligible for.