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

Shanioops

YorkshireBoy wrote: »

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?

Experian were the company that TSB used for their credit report, it said who they used at the end of their decision e-mail and they transferred me to them on the phone. There is of course other criteria which TSB will use to make their decision, but they said in this case it was based directly on the credit score - which I have followed up to ensure this was correct. If you are saying there may be something in my credit *history* that may not appeal to them, then that may be a different issue, but that's not what I was told.

YorkshireBoy

Shanioops wrote: »

Experian were the company that TSB used for their credit report, it said who they used at the end of their decision e-mail and they transferred me to them on the phone. There is of course other criteria which TSB will use to make their decision, but they said in this case it was based directly on the credit score - which I have followed up to ensure this was correct. If you are saying there may be something in my credit *history* that may not appeal to them, then that may be a different issue, but that's not what I was told.

I'll have one more go...please copy and paste the relevant bits from the email (personal details redacted of course) to back up what you've said above, especially the bit I've underlined...which I think you're saying is the Experian credit score, not the TSB credit score which is based on Experian data and other data and their own (TSB) algorithms run on this data acquired.

masonic

Shanioops wrote: »

Experian were the company that TSB used for their credit report, it said who they used at the end of their decision e-mail and they transferred me to them on the phone. There is of course other criteria which TSB will use to make their decision, but they said in this case it was based directly on the credit score - which I have followed up to ensure this was correct. If you are saying there may be something in my credit *history* that may not appeal to them, then that may be a different issue, but that's not what I was told.

What you seem to misunderstand is that the credit score calculated by TSB is not the same as the credit score calculated by Experian, so you cannot use the Experian score to deduce anything about what your TSB score may have been.

To further complicate matters, the Experian credit score sold to companies will be different from the Experian credit score available to consumers. Different companies may even receive a different number based on the same data if they have requested a customised algorithm.

Therefore, the only way to check if there is a reason why you might have failed to be accepted due to credit scoring is to analyse the data itself, not a number derived from the same data using a different algorithm.

bigadaj

Shanioops wrote: »

Experian were the company that TSB used for their credit report, it said who they used at the end of their decision e-mail and they transferred me to them on the phone. There is of course other criteria which TSB will use to make their decision, but they said in this case it was based directly on the credit score - which I have followed up to ensure this was correct. If you are saying there may be something in my credit *history* that may not appeal to them, then that may be a different issue, but that's not what I was told.

If you are transferred by tsb, then that sounds a bit worrying to me. Many companies utilise more than one of the three major credit agencies, and the information they hold, and certainly not the largely made up number they provide, should only form a part of the assessment.

Experian and the other cras are businesses, their business model relies on selling their services to consumers. The value of that information is subjective according to teh individual but their credit score is not used by lenders. We've had many people reporting a 999 score with experian, who then are found to have defaults, missed payments, ccjs, bankruptcies etc etc if they are selling soemthing they don't want to annoy their customers, and many people don't welcome an hide stuff appraisal of their actual situation.

The U.K. Is very different it the US in this regard, the credit score there is of use and will largely determine your credit status.

Shanioops

Thank you for your concerns. The agent who was dealing with my application called me today to say my account was declined in error and they will be proceeding with the application for the account.

As I said in my previous message - I am fully aware of how to read a credit report and analyse my credit file. I did not feel the need to be pedantic in my previous message about the differentiation between score and file, one is used to generate the other, I am using the terms synonymously. The credit score generated for a client may be different to the generic one generated to me but I can only use the information I have available to me.

ALL I was saying is if you have been declined then it may have been in error and to make sure you are pro-active and follow up any decision made. I did not come here to debate or argue :j

bigadaj

Shanioops wrote: »

Thank you for your concerns. The agent who was dealing with my application called me today to say my account was declined in error and they will be proceeding with the application for the account.

As I said in my previous message - I am fully aware of how to read a credit report and analyse my credit file. I did not feel the need to be pedantic in my previous message about the differentiation between score and file, one is used to generate the other, I am using the terms synonymously. The credit score generated for a client may be different to the generic one generated to me but I can only use the information I have available to me.

ALL I was saying is if you have been declined then it may have been in error and to make sure you are pro-active and follow up any decision made. I did not come here to debate or argue :j

You can believe what you want but where this is factually incorrect this needs to be pointed out or it may mislead others.

You were correct to review your credit files but the number provided by experian is pretty much irrelevant. One is not used to generate the other by anyone who is prepared to offer you credit, so the credit score can be ignored.