Turned down for bank account but credit rating fine. Any ideas?

linesandlines

My current bank is rubbish, so I tried to apply for a first direct account, and got turned down. I don't earn alot (under £10k) but my credit score is 999 out of 999. This also happened when I applied for an AA credit card last year to move a balance.
Any idea why I keep getting turned down for credit? Am I just too piddly a customer for them to bother with?

YorkshireBoy

I'd imagine their aim is to get more affluent customers (no offence!), being as they're 'expecting' a £1K per month pay-in. Your earnings, on their own, won't meet that.


But, yes, they are reported as being very 'picky'.

SnowTiger

linesandlines wrote: »

My current bank is rubbish, so I tried to apply for a first direct account, and got turned down. I don't earn alot (under £10k) but my credit score is 999 out of 999. This also happened when I applied for an AA credit card last year to move a balance.
Any idea why I keep getting turned down for credit? Am I just too piddly a customer for them to bother with?

First Direct are a bit picky and your income is quite low.

You're probably not worth the £100 switching bonus.

linesandlines

Humph. S*d them then! Thanks for the responses. Is there a post on 'any port in a storm' bank accounts? :rotfl:

YorkshireBoy

linesandlines wrote: »

Humph. S*d them then! Thanks for the responses. Is there a post on 'any port in a storm' bank accounts? :rotfl:

Anywhere outside the HSBC stable really. What are you looking for in a bank? Why is your existing bank "rubbish"?

bigadaj

linesandlines wrote: »

My current bank is rubbish, so I tried to apply for a first direct account, and got turned down. I don't earn alot (under £10k) but my credit score is 999 out of 999. This also happened when I applied for an AA credit card last year to move a balance.
Any idea why I keep getting turned down for credit? Am I just too piddly a customer for them to bother with?

You seem to have a habit of choosing awkward providers, aa credit card has a poor reputation on these boards and the HSBC brands can be awkward.

Should be plenty of options for transfers though, nationwide refer a friend might be worth a go, there's Halifax as well.

The credit score is of course a made up number, don't place any credence on it in relation to your financial life.

linesandlines

The credit score is of course a made up number, don't place any credence on it in relation to your financial life.

Aw come on Dave, don't take that away from me!

What are you looking for in a bank? Why is your existing bank "rubbish"?

Good service, online banking, a free overdraft cushion of around £1-200, Yorkshire Boy. Cashback would be nice but not a necessity. I'm currently with Barclays who have messed up time and time again; on my current and business accounts*. The free overdraft is dependent on taking a paid for service. In my case a tech pack for £9.50! a month. That was OK as it provided mobile phone cover, but when I recently had to claim on it, it was very poor, so it no longer seems like a benefit. (*I couldn't leave earlier as it was tied to a business loan, which is now paid off, so I', freeeeee!

Nationwide seems like a good call, Dave.

Jlawson118

SnowTiger wrote: »

First Direct are a bit picky and your income is quite low.

You're probably not worth the £100 switching bonus.

YorkshireBoy wrote: »

I'd imagine their aim is to get more affluent customers (no offence!), being as they're 'expecting' a £1K per month pay-in. Your earnings, on their own, won't meet that.


But, yes, they are reported as being very 'picky'.

I got accepted by First Direct back in 2014 when I'd put my income at about £100 a year when I'd just turned 18 and didn't have any form of income whatsoever. Unless in the last two and half years they've become more picky. Although back then I'm pretty sure I only had about £600 to go in that account. And by accident I transferred that to a savings account and then back to my current account, turned out that qualified for the £1000 even though I didn't mean for it to, and I got the £100 incentive

Gers

I was accepted for a FD account last year after being turned down by HSBC and I only have paid work of approx £7,00.00 per yer. I also have a M&S current account which is 'managed' by HSBC and a JL partnership card which is also 'managed' by HSBC - no idea why I couldn't have their account.

Sometimes it just seems 'because'.

DCFC79

linesandlines wrote: »

Aw come on Dave, don't take that away from me!


Good service, online banking, a free overdraft cushion of around £1-200, Yorkshire Boy. Cashback would be nice but not a necessity. I'm currently with Barclays who have messed up time and time again; on my current and business accounts*. The free overdraft is dependent on taking a paid for service. In my case a tech pack for £9.50! a month. That was OK as it provided mobile phone cover, but when I recently had to claim on it, it was very poor, so it no longer seems like a benefit. (*I couldn't leave earlier as it was tied to a business loan, which is now paid off, so I', freeeeee!

Nationwide seems like a good call, Dave.

It's true , your score is just a number, has no relation to you being accepted for an account. Just don't get disheartened by it if NW reject you.

meer53

YorkshireBoy wrote: »

I'd imagine their aim is to get more affluent customers (no offence!), being as they're 'expecting' a £1K per month pay-in. Your earnings, on their own, won't meet that.


But, yes, they are reported as being very 'picky'.

You don't have to pay in £1k every month. Only if you want the joining incentive.Then it only needs to go in once.