TSB Classic Plus application declined, even though I didn't request an overdraft

lstar337

I started the online signup 10 minutes ago and I already have an account number and sort code!

I was shocked! I expected to have to send proofs and wait for my application to be considered, but nothing. They must have done the credit check while I was online because I did have to wait while a screen cycled round for a few minutes.

I'm pleasantly surprised! Very quick and easy.

diamonds

lstar337 wrote: »

I started the online signup 10 minutes ago and I already have an account number and sort code!

I was shocked! I expected to have to send proofs and wait for my application to be considered, but nothing. They must have done the credit check while I was online because I did have to wait while a screen cycled round for a few minutes.

I'm pleasantly surprised! Very quick and easy.

Yes, TSB and LBG online applications are really easy. TSB were very generous in offering me a big overdraft too, I declined the full amount offered too :money:

Binks26

Disappointed-I applied for Classic Plus (without overdraft) on 21 Apr, got immediate email acknowledgement then had to wait until 7 May to receive a letter saying they couldn't identify me. I took identifying docs into branch 10 May and since then, zilch. Guess that's a no, then! Coming up for a month since I first applied! Today am making other arrangements for my money.

katejo

Nothing to do with requesting an overdraft as far as I know. I have TSB Classic with no overdraft because I don't need one.

Shanioops

So I applied for the same account online on Tuesday and was declined by Wednesday. I said I wanted to use the account for savings (being truthful) and I pretty sure I asked for the overdraft. I thought perhaps I might have been declined because I don't earn much money and perhaps they don't see much to gain in having me as a customer so I called their customer services; they said it was to do with my credit score.. (I have excellent credit) I did a double check on my score using Experian (still excellent).

I called back and spoke to someone in their rejected applications team and asked if there was any other reason why my application would be rejected, they looked into the case and can find not other reason! (conveniently the member of staff who dealt with it is away). The guy I spoke to is dealing with it (no guarantee) but thinks I should get the account! :T I will keep you posted!.

Definitely worth checking your credit score first and then call !! Their customer service are very helpful.

bigadaj

Shanioops wrote: »

So I applied for the same account online on Tuesday and was declined by Wednesday. I said I wanted to use the account for savings (being truthful) and I pretty sure I asked for the overdraft. I thought perhaps I might have been declined because I don't earn much money and perhaps they don't see much to gain in having me as a customer so I called their customer services; they said it was to do with my credit score.. (I have excellent credit) I did a double check on my score using Experian (still excellent).

I called back and spoke to someone in their rejected applications team and asked if there was any other reason why my application would be rejected, they looked into the case and can find not other reason! (conveniently the member of staff who dealt with it is away). The guy I spoke to is dealing with it (no guarantee) but thinks I should get the account! :T I will keep you posted!.

Definitely worth checking your credit score first and then call !! Their customer service are very helpful.

Hopefully this will work out for you but it's important you understand that you need to check your credit file and not your credit score. The former can show problems with your history or records that may need to be corrected, the credit score is pretty much a made up number by one of the credit agencies to make you give them money.

Shanioops

bigadaj wrote: »

Hopefully this will work out for you but it's important you understand that you need to check your credit file and not your credit score. The former can show problems with your history or records that may need to be corrected, the credit score is pretty much a made up number by one of the credit agencies to make you give them money.

I agree it is important to check your credit history :T - a credit score is based on the information from your credit history though (the scale and criteria is of course defined by each company) so not quite a made up number.

Also, you can get a free 30 trial with most credit reporting companies and they give you a full breakdown of your history :j

YorkshireBoy

Shanioops wrote: »

I agree it is important to check your credit history :T - a credit score is based on the information from your credit history though (the scale and criteria is of course defined by each company) so not quite a made up number.

The "credit score" you were told about was the one TSB calculated based on the data they obtained from various sources...NOT the credit score that the CRAs have sold/will sell you (or provide free with a 30-day trial). There is a difference.

Shanioops

YorkshireBoy wrote: »

The "credit score" you were told about was the one TSB calculated based on the data they obtained from various sources...NOT the credit score that the CRAs have sold/will sell you (or provide free with a 30-day trial). There is a difference.

They informed me of the source that they used to calculate the credit score and directed me to the same source to obtain a credit report. Please let me know what the difference would be. They haven't sold, not will sell me anything to date.

YorkshireBoy

Shanioops wrote: »

They informed me of the source that they used to calculate the credit score and directed me to the same source to obtain a credit report. Please let me know what the difference would be. They haven't sold, not will sell me anything to date.

TSB calculated a credit score (probably not a number, but possibly a simple pass/fail/refer) based on data obtained from one or more CRAs.


You said you'd checked your credit score with a CRA.


What I'm saying is the two credit scores here, whilst being based (largely but not wholly) on CRA data, may be weighted in different areas. For example, how does Experian know what the data for TSB's target market is?