Co-Op Bank - Misleading 'Help' Application Info

.1xp

Was just looking at Co-Op current accounts and having a read.

First of all, I struggle to understand why a contacless card is subject to your credit file, but that's another issue.

The main thing I noticed was this, listed in the Current Account Application 'Help' section:

What to do if you've been refused

Customers that are not approved will have a note placed on their account that an application has been submitted and declined.

Being refused for a current account can have a negative effect on your credit rating. If this happens, you should avoid applying for the same card again. All applications, positive and negative, will show up on your credit file.

http://www.co-operativebank.co.uk/help/current-account-applications?int_cmp=topnav_apphelp_currentaccounts

Since when did they start reporting a declined application?
Since when did being refused a current account have a negative effect on a credit file?
'Avoid applying for the same card' do they not mean account?

I think this whole 'help' section is very misleading and worded incredibly wrong for someone who was looking for help.

tykesi

.1xp wrote: »

Was just looking at Co-Op current accounts and having a read.

First of all, I struggle to understand why a contacless card is subject to your credit file, but that's another issue.

The main thing I noticed was this, listed in the 'Help' section:



http://www.co-operativebank.co.uk/help/current-account-applications?int_cmp=topnav_apphelp_currentaccounts

Since when did they start reporting a declined application?
Since when did being refused a current account have a negative effect on a credit file?
'Avoid applying for the same card' do they not mean account?

I think this whole 'help' section is very misleading and worded incredibly wrong for someone who was looking for help.

Current accounts have been credit checked for years so of course if you're declined it will show on your file. Your post is confusing as you imply that it's an application for a contactless card when it is a full current account which with an overdraft is a credit facility.

worded incredibly wrong

Slightly ironic...

takman

When they say that you will have a note placed on your account they mean your internal account at CO-OP. They are saying that so people know they keep a record of all applications.

pappa_golf

a basic bank account has not got contactless , you have no overdraft facility
a currant account may have contactless , you may have a overdraft facility , you will be credit checked

.1xp

Current accounts have been credit checked for years so of course if you're declined it will show on your file.

No, the credit search will show, not the fact that the application was declined

Your post is confusing as you imply that it's an application for a contactless card when it is a full current account which with an overdraft is a credit facility.

No, I said that the contactless card was a another issue and was pointing out to the wording from the Help section regarding declined applications.

Slightly ironic...

Thanks!

takman

.1xp wrote: »

No, the credit search will show, not the fact that the application was declined

it says being refused "can" have a negative effect on your "credit score". It doesn't take a genius to work out that having lots of credit searches on your report but no new accounts that you have likely been declined credit!.