I can't seem to get anything out of my Halifax account?

Jlawson118

I currently have accounts with First Direct, Lloyds Bank and recently a Halifax one.

I've also recently upgraded my Halifax account to their Ultimate Reward for the breakdown cover, travel insurance and other things they cover, and over time, I was generally hoping to move both of my other accounts over to Halifax.

But I called First Direct a few weeks ago asking for a loan whilst I waited for a cheque to clear within that week, and the lady on the phone offered me a £1000 overdraft, I accepted, she asked me a few questions and it was on my account straight away. No questions asked pretty much. I was able to pay what I needed to and I am truly thankful for that lady's help.

And I also have one of Lloyd's Bank's best credit cards that I use all of the time for everything and I've never not paid it back. Early this year, I got a credit card with Aqua who gave me a £300 credit limit and when they saw how I was using my card, they boosted it to £1050, giving me more than the Lloyd's Bank one does. So I am good with money and credit.

But I was travelling a lot this Summer, and I was trying to apply for the Halifax Clarity credit card as I'd spent a lot of money on cash withdrawals, they rejected me and I thought it was fair enough, it didn't bother me because it's a big card that they offer.

But on Friday night, I applied a few times for an overdraft with them for £500, they rejected me. So I sat there, realising that Lloyd's pretty much is the same company, runs on the same systems and everything, I'll apply for one there. They accepted me straight away.

So I just called Halifax who declined me again. An overdraft is something I'll probably not use, but I'll feel comfort knowing it's there incase of an emergency. But I'm wondering why Lloyd's Bank and First Direct accept me with virtually no questions asked, and yet Halifax won't let me have a credit card or overdraft?

DCFC79

Different criteria at the banks meaning you fulfilled the criteria at lloyds and FD but you didnt at Halifax.

Maybe check your credit records at Experian, Clearscore and Noddle for anything untoward but ignore the score.

Maybe too many applications played a part in it.

PeacefulWaters

Excessive searches if you ask me.

Jlawson118

DCFC79 wrote: »

Different criteria at the banks meaning you fulfilled the criteria at lloyds and FD but you didnt at Halifax.

Maybe check your credit records at Experian, Clearscore and Noddle for anything untoward but ignore the score.

Maybe too many applications played a part in it.

I'm with Clearscore and my score is pretty high and beats the average of the UK and my local area. Too many searches may be a factor but the results of my score is based on two negatives, one is that my highest credit limit is classed as low, and my other is that I haven't had the credit agreement long, but it's nearly a year old now

PeacefulWaters

Jlawson118 wrote: »

I'm with Clearscore and my score is pretty high and beats the average of the UK and my local area. Too many searches may be a factor but the results of my score is based on two negatives, one is that my highest credit limit is classed as low, and my other is that I haven't had the credit agreement long, but it's nearly a year old now

Ask Clearscore for the credit card then.

NotRichAtAll

I applied a few times for an overdraft with them for £500, they rejected me. So I sat there, realising that Lloyd's pretty much is the same company, runs on the same systems and everything, I'll apply for one there. They accepted me straight away.

So I just called Halifax who declined me again. An overdraft is something I'll probably not use, but I'll feel comfort knowing it's there incase of an emergency.

None of my business but you seem pretty determined to get as many overdrafts as possible, for as you say an emergency that may never happen, sounds more like your expecting a catastrophe to happen. Also if your really that good with money etc why on earth are you using an aqua credit card?
i would tend to agree with DCFC79 and PeacefulWaters to many desperate random attempts

pinkdalek

Jlawson118 wrote: »

I'm with Clearscore and my score is pretty high and beats the average of the UK and my local area.

Good for you but anyone can have a high credit score, but if you don't meet or pass the financial institution's own benchmark or criteria then you will still get declined.
Having a high credit score is not a guaranteed acceptance everytime you apply.

Jlawson118

NotRichAtAll wrote: »

None of my business but you seem pretty determined to get as many overdrafts as possible, for as you say an emergency that may never happen, sounds more like your expecting a catastrophe to happen. Also if your really that good with money etc why on earth are you using an aqua credit card?
i would tend to agree with DCFC79 and PeacefulWaters to many desperate random attempts

I was rejected initially for the Lloyds card and so MSE recommended the Aqua card as I wanted a card I could use abroad. So I got it, and then I had a slight increase to my income and applied again for the Lloyds and they accepted it. I still have the Aqua account because it stands there on my credit score.

But I understand what you're saying about the overdrafts, but the general idea was to get one on my Halifax and then close my Lloyds account down and the same with my First Direct, but I only applied for the Lloyds overdraft to see if I'd be accepted and I was, otherwise I wouldn't have bothered

mwarby

The problem the banks have is that you've increased your available credit quite quickly, and appear to want more. You can cope now, but could you cope if you withdrew all your credit and say went nuts at a casino ? Or if you spent it all and lost your job ?

Given time and using the facilities sensibly and rationalising them (by say moving banks and closing old account), that concern will lessen