Opening First Direct current account

Darkky

Hello, I am considering opening a First direct current account. However, in the past few months i opened quite a few current accounts and as a result, i have a lot of credit checks in short time period, including a reject from HSBC, exactly for this reason. My question is since First Direct are owned by HSBC, are they as picky and what are the chances i will be rejected due to the many recent credit checks?

Superscrooge

Lots of credit checks in a short space of time is regarded as a negative as it makes you look desperate for credit.

I would leave it for a few months. If HSBC have recently rejected you then your chances of being accepted by First Direct are low.

In a few months if all your accounts have been kept in good order then your chances of being accepted will improve

grumbler

Darkky wrote: »

...since First Direct are owned by HSBC, are they as picky ...?

I am not sure about "as", but they are known to be picky.

ParaJon

Yes they are picky.

However if you have a high salary of £28K + this will give you a decent chance of having an application approved.

They also operate a referral on there applications so that if you aren't successfully they will review it manually.

originator

They weren't "picky" with me,I'm only on state pension and got the account easypeasy

Darkky

ParaJon wrote: »

Yes they are picky.

However if you have a high salary of £28K + this will give you a decent chance of having an application approved.

They also operate a referral on there applications so that if you aren't successfully they will review it manually.

My salary is comfortably over £30K. However, this is the first time i hear they operate referral policy. In case i am unsuccessful, how can i request one? Also, does this apply to their credit card applications as well (intending to ask for both if i apply)?

ParaJon

Darkky wrote: »

My salary is comfortably over £30K. However, this is the first time i hear they operate referral policy. In case i am unsuccessful, how can i request one? Also, does this apply to their credit card applications as well (intending to ask for both if i apply)?

If you apply online, at the end of the application it will either give you a Yes/No or a "We need to check more information" in which case someone will manually do a check of your credit file and assess whether or not to accept you. Generally unless you have lots of defaults it shouldn't be an issue.

I Applied for a First Direct account after buying a new car on pcp. changing job & income, opening a halifax account, and opening a second lloyds debit card.

So you should be fine.

ceredigion

Darkky wrote: »

My salary is comfortably over £30K. However, this is the first time i hear they operate referral policy. In case i am unsuccessful, how can i request one? Also, does this apply to their credit card applications as well (intending to ask for both if i apply)?

First Direct referral's are a little long winded and hard work. From your account you request a referral card, they send you by post! a card. You then fill it in with the details of the referred, then eventually they will send them a paper application form which has to be filled in. The referred cannot apply online. If it all works you get £50.
There is another £25 it you take one of their credit cards.

YorkshireBoy

ceredigion wrote: »

First Direct referral's are a little long winded and hard work. From your account you request a referral card, they send you by post! a card. You then fill it in with the details of the referred, then eventually they will send them a paper application form which has to be filled in. The referred cannot apply online. If it all works you get £50.

There seems to be some confusion. The 'referral' being discussed is in the context of the current account application having 3 possible outcomes:

1. Accepted (automatically)
2. Declined (automatically)
3. Referred (to be reviewed manually by an underwriter).

ceredigion

YorkshireBoy wrote: »

There seems to be some confusion. The 'referral' being discussed is in the context of the current account application having 3 possible outcomes:

1. Accepted (automatically)
2. Declined (automatically)
3. Referred (to be reviewed manually by an underwriter).

All right I'll give up and go to bed

meer53

ParaJon wrote: »

If you apply online, at the end of the application it will either give you a Yes/No or a "We need to check more information" in which case someone will manually do a check of your credit file and assess whether or not to accept you. Generally unless you have lots of defaults it shouldn't be an issue.

I Applied for a First Direct account after buying a new car on pcp. changing job & income, opening a halifax account, and opening a second lloyds debit card.

So you should be fine.

Bit of a silly thing to say really. How do you know they'll be fine ? There are many other things that can cause declined applications apart from credit file information.