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Metro Bank -now accepting online applications
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...and consented to "checks" including my more perfect than perfect credit history.Mr_Goodkat wrote: »Banks are free to decide who they have or do not have as customers and from your positing history and financial behavior both in the past and more recently your credit history is not more perfect than perfect!How do you know that my credit history is not perfect? Do you have access to my credit history?
Explain what a 'perfect' credit history is.
Then explain why your credit history is 'more perfect than perfect'.
You're previous written enthusiastically about credit unions and, so-called, 'unbanked' accounts. None of which usually report to credit reference agencies.
IIRC you've also mentioned that you deliberately don't pay off your credit card balances in full because you believe paying a bit of interest makes you more attractive to lenders.
A 'perfect', or 'more perfect than perfect', credit history is worth diddly-squat if your income doesn't meet Metro Bank's (unpublished) minimum requirement.
If you're desperate for an account with Metro Bank, pop in to their local store to enquire about opening a Cash Account:
Unit 1, Christ's Lane
Cambridge
Cambridgeshire
CB2 3BZ0 -
Explain what a 'perfect' credit history is.
Then explain why your credit history is 'more perfect than perfect'.
You're previous written enthusiastically about credit unions and, so-called, 'unbanked' accounts. None of which usually report to credit reference agencies.
IIRC you've also mentioned that you deliberately don't pay off your credit card balances in full because you believe paying a bit of interest makes you more attractive to lenders.
A 'perfect', or 'more perfect than perfect', credit history is worth diddly-squat if your income doesn't meet Metro Bank's (unpublished) minimum requirement.
If you're desperate for an account with Metro Bank, pop in to their local store to enquire about opening a Cash Account:
Unit 1, Christ's Lane
Cambridge
Cambridgeshire
CB2 3BZ
Full of inaccuracies:
What is a more perfect than perfect credit history? Well if you know about the credit history you can answer that for yourself.
Credit Unions don't report to CRAs? Really? Oh yes they do!
The rest of your post is irrelevant to this thread. You would do well to concentrate on the topic. It works wonders for your credibility.
I don't see why my credit history is relevant because I have already stated that there is no search of any description from Metro Bank on Equifax which Metro Bank quoted as having searched. Metro Bank must have based their decision purely on my application! Do try to keep up.
I'm not desperate for a Metro Bank account. My requirements of a bank account are very simple: I require a bank to be efficient and fair and Metro Bank have already proved themselves to be neither of those!0 -
How do you know that my credit history is not perfect? Do you have access to my credit history?
Let's look at this in more detail: First and foremost if a bank says they will check a CRA but they don't do that then the reason for declining must be something else. Now if that same bank does not specify a minimum income and states that the minimum balance is nil then the reason for the decline must be something else. All that's left is age and state pension.
Whether a bank can decide whether to accept or decline an application depends on the reason for declining. Back in 2014 Lloyds Bank came unstuck when they declined an application due to the advanced age of the applicant:
http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10991292/You-are-too-old-for-a-credit-card-bank-tells-customer.html
Specifically in the case of Metro Bank apart from referring to searching Equifax they refer to their "criteria" which as far as I can see is not published.
I subscribe to Equifax and there has been no credit searches nor ID searches from Metro Bank. In fact no credit searches at all in the last four months.
So therefore if it's not age that is the reason for the decline then it must be the mysterious "criteria" and that is the basis of my complaint.
From your posting history it is obvious you do not have a perfect credit history.
You have had financial problems in the past
You have moved relatively recently
You carry balances on credit cards and pay interest as you think this makes you look like a more profitable customer
You have a number of relatively new accounts
You have a very low income
The above makes me and presumably banks think you do not have a perfect credit history
Do you pay for equifax or via a free service like clear score? If you are paying - stop and save. A credit check soft or hard may not appear instantly on the service you subscribe to so could show in the coming weeks.
Banks can have unpublished eligibility criteria and you may well have failed to have high enough income for example.
You will not have been rejected purely because of your age.
How is the complaint progressing with Metro?0 -
Mr_Goodkat wrote: »From your posting history it is obvious you do not have a perfect credit history.
You have had financial problems in the past
You have moved relatively recently
You carry balances on credit cards and pay interest as you think this makes you look like a more profitable customer
You have a number of relatively new accounts
You have a very low income
The above makes me and presumably banks think you do not have a perfect credit history
Do you pay for equifax or via a free service like clear score? If you are paying - stop and save. A credit check soft or hard may not appear instantly on the service you subscribe to so could show in the coming weeks.
Banks can have unpublished eligibility criteria and you may well have failed to have high enough income for example.
You will not have been rejected purely because of your age.
How is the complaint progressing with Metro?
The first part of your post quoted is completely irrelevant because I have confirmed that Metro Bank did not search my credit history on Equifax which they quoted as having searched. I subscribe to Equifax and they report in real time but I suppose they could be over 10 days late in reporting a Metro Bank search. Doubtful though.
I have been quite open about my financial difficulties and the means I used to rebuild my credit history. But I have also been quite open about my difficulties arising in 2007/8 out of the banking crisis. But in relation to my Metro Bank application that in itself is irrelevant because they didn't do a credit search and even if they did the defaulted accounts which were incidentally fully paid and settled have dropped off my credit history.
If banks have unpublished criteria how are we to decide whether we should apply and whether our application is successful? Metro Bank itself does not publish a required minimum income but states that the minimum required balance is nil.
However we look at Metro Bank in relation to my application what emerges is highly suspect because practically the only areas I would have failed is age, employment and income which as I have already stated discriminates against state pensioners!0 -
You're previous written enthusiastically about credit unions and, so-called, 'unbanked' accounts. None of which usually report to credit reference agencies.Full of inaccuracies:
Credit Unions don't report to CRAs? Really? Oh yes they do!
I used the word 'usually'. I wrote: 'None of which usually report to credit reference agencies.'
The credit union I joined a few years ago DOES NOT report positive balances to CRAs.0 -
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veryintrigued wrote: »Then move on.
Lifes way too short for all this....
So therefore we just allow banks to discriminate against a comparatively large section of the U.K. population with impunity. In that case where does the discrimination end?
Let me put this in more graphic terms: A person works all their life, pays all their taxes and insurance and pays all their bills and then when they get older they retire and take their state pension and whammo they cannot get a bank account!0 -
Which country are you talking about? To be denied a bank account in the UK they'd have to have been involved in some fraudulent activities and have some CIFAS markers as a consequence. Besides, someone who has been working all their life as you describe will already have at least one bank account. Speaking from my own experience, I opened over two dozen bank accounts after retiring.A person works all their life, pays all their taxes and insurance and pays all their bills and then when they get older they retire and take their state pension and whammo they cannot get a bank account!0 -
Which country are you talking about? To be denied a bank account in the UK they'd have to have been involved in some fraudulent activities and have some CIFAS markers as a consequence. (cut)
Have you actually read this thread? I don't have any of those things on my credit history now nor at any time in the past. Yet I was denied an account with Metro Bank. In fact over the 6 years life of my credit history there are also no late payments, no minimum payments, no missed payments, no cash advances, no defaults nor arrangements to pay. But then Metro Bank wouldn't know about that because they have not searched my credit history on all three CRAs.0 -
The first part of your post quoted is completely irrelevant because I have confirmed that Metro Bank did not search my credit history on Equifax which they quoted as having searched. I subscribe to Equifax and they report in real time but I suppose they could be over 10 days late in reporting a Metro Bank search. Doubtful though.
I have been quite open about my financial difficulties and the means I used to rebuild my credit history. But I have also been quite open about my difficulties arising in 2007/8 out of the banking crisis. But in relation to my Metro Bank application that in itself is irrelevant because they didn't do a credit search and even if they did the defaulted accounts which were incidentally fully paid and settled have dropped off my credit history.
If banks have unpublished criteria how are we to decide whether we should apply and whether our application is successful? Metro Bank itself does not publish a required minimum income but states that the minimum required balance is nil.
However we look at Metro Bank in relation to my application what emerges is highly suspect because practically the only areas I would have failed is age, employment and income which as I have already stated discriminates against state pensioners!
My first point is relevant because I am taking you to task on your suggestion that your credit history is more perfect than perfect. From your posting on here I can assure you that your credit history is far from perfect!
Most banks, credit card companies etc. have unpublished criteria and can select who they wish to do business with or not. When you are successful in opening an account you obviously meet both the published and unpublished criteria along with any credit checks, credit scoring or other application assessment they see fit. In this case with Metro Bank it seems your application failed to meet their criteria and actually not credit checking you if you have failed to meet this other criteria is a positive as it saves a hard search on your file moving it a little closer on the road to perfection but still someway short!
There are factors other than age, income and employment or a combination of factors that made Metro reject your application.
I ask again, how is your complaint going? What has been their response?0
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