Virgin Money Essential Account for Bad Credit

changeisgood

Hello and thanks for reading. I am currently on a DMP and have a Co Op cashminder account. I may be getting some inheritance soon and I wanted to put it into a different account for emergencies. I explained all this at the virgin interview. She seemed confident I would get the new account.

I had a letter from virgin yesterday saying 'after carrying out a few final checks before activating your account we can no longer open it.

I called them and they said they could not give specifics but maybe check my credit report.

Can anyone shed any light on what may have happened her?

Many thanks

[Deleted User]

It will be the DMP.

changeisgood

Thankyou for your reply. I explained about my DMP in the interview and she did ask if I had any
CCJ'S which I have not, and she said this should be fine? Another colleague said that this account
type was for bad credit people.

[Deleted User]

DROs are a little more extreme than normal bad credit.

Advisors tend not to know anything about risk criteria

changeisgood

Ok thanks but I have not had a DRO either.

[Deleted User]

Sorry. DMP. But the principle is the same.

CakeCrusader

Is there someone who runs your DMP, who you are supposed to contact if you get a change in circumstances (lose your job or inherit some money)??

changeisgood

Yes they will be notified as soon as my circumstances change

changeisgood

I have just had my credit report with Experian and there is nothing on
there to say Virgin have done a search on me. So not sure what happened

[Deleted User]

Either

a) you failed their criteria before the search was done
or
b) they searched one of the other CRAs