Refused by First Direct, any ideas why?

HardSpend

Djene wrote: »

I've been getting rejected by FD for about 5 years now. I'll generally try my chances twice a year or so, and each time I'll get a decline letter through the door.

Wow! Doesn't that affect your credit history? I had an ISA with FD about 15 years ago so illegible as they have long memories..

Mchambers

OP....Complain.

If they don't give a fit-for-purpose response escalate to the FCA. It will cost them money for the escalation.

I cannot stand any bank.

HTHs.

System

Perhaps the reason for rejection is because FD don't believe they can profit from you, maybe they can't easily sell you other products (your current account application is sometimes judged on whether you'd be a good mortgage/loan/credit card customer etc)

Or maybe you never pay credit card interest and FD don't like that?

eskbanker

HardSpend wrote: »

I had an ISA with FD about 15 years ago so illegible as they have long memories..

Do you think they'd reject you because they can't read your writing?

n1guy

I was with FD for about 5 years, decided to switch to take advantage of some cash back offer, then tried to switch back to FD, they wouldn't entertain me, even though in my 5 years with them I never had 1 charge, salary went in every week without fail. Even now they won't entertain me. I don't know what sort of scoring system they use, maybe they took the hump with me because I switched from them

binaryuniverse

Mchambers wrote: »

OP....Complain.

If they don't give a fit-for-purpose response escalate to the FCA. It will cost them money for the escalation.

I cannot stand any bank.

HTHs.

A bank isn't legally obliged to give you an account, unless it's a basic bank account. And only then if they are one of the nine designated basic bank account providers (HSBC is one. First Direct isn't).

So, no, a complaint will get you nowhere.


My experience with FD is that I tried opening an account 3 times. Third time I was accepted.
In the first two occasions I had a few very old defaults, and an AR, on my file.
Third occasion my file was clean as a whistle, not even a late payment on there. But at this stage I had about 8 open current accounts (and a few closed ones, from donors) and 6 credit cards. That didn't seem to bother them.

First Direct. The Berghain of banks.

badger09

Mchambers wrote: »

OP....Complain.

If they don't give a fit-for-purpose response escalate to the FCA. It will cost them money for the escalation.

I cannot stand any bank.

HTHs.

Absolutely no grounds for a complaint.

We are all very familiar with your attitude to banks, and your obsession with making, often unfounded, complaints.

HardSpend wrote: »

Wow! Doesn't that affect your credit history? I had an ISA with FD about 15 years ago so illegible as they have long memories..

n1guy wrote: »

I was with FD for about 5 years, decided to switch to take advantage of some cash back offer, then tried to switch back to FD, they wouldn't entertain me, even though in my 5 years with them I never had 1 charge, salary went in every week without fail. Even now they won't entertain me. I don't know what sort of scoring system they use, maybe they took the hump with me because I switched from them

All of the First Direct switching offers I have seen have very clearly excluded previous customers. So, nothing to do with how you conducted your previous account, 'scoring system', or that FD 'took the hump'. Simply the way they choose to attract new customers.

gettinnerdy

First Direct are owned by HSBC (Hong Kong & Shanghai Banking Company) which are always voted worst bank worldwide.

They use old technology, and their marginally better first direct sub brand only accept posh people.

Btw hsbc and fd will have gone bust within the next 30 years

meer53

gettinnerdy wrote: »

First Direct are owned by HSBC (Hong Kong & Shanghai Banking Company) which are always voted worst bank worldwide.

They use old technology, and their marginally better first direct sub brand only accept posh people.

Btw hsbc and fd will have gone bust within the next 30 years

Where do you get this twaddle from ?

Samsung_Note2

gettinnerdy wrote: »

First Direct are owned by HSBC (Hong Kong & Shanghai Banking Company) which are always voted worst bank worldwide.

They use old technology, and their marginally better first direct sub brand only accept posh people.

Btw hsbc and fd will have gone bust within the next 30 years

My goodness that means i'm posh...well dawg gone hobbit i"s never new i was a posh un god golly.

I've had a poor credit file for several years and only fairly recently its started to get better,done the whole switching banks for incentives and around same time applied and was accepted for several credit cards...much to my surprise.

First direct bank account and Credit card approved instantly....very surprised to hear that they are choosey when approving applications.