Rejected for First Direct
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hammersfaniow
Posts: 116 Forumite
Just tried to do a switch to First Direct Sole Account but my application apparently doesn’t meet their criteria !
My salary is approx £1100 net, so not the highest, but I’m a homeowner, mortgage free, no dependents and minimal monthly outgoings. Got a credit score of 973, which I’ve heard is pretty good, no late payments, not overdrawn etc.
Any ideas as to why it might’ve been rejected ? And will this have a big effect on my credit score ?
Thank you in advance
My salary is approx £1100 net, so not the highest, but I’m a homeowner, mortgage free, no dependents and minimal monthly outgoings. Got a credit score of 973, which I’ve heard is pretty good, no late payments, not overdrawn etc.
Any ideas as to why it might’ve been rejected ? And will this have a big effect on my credit score ?
Thank you in advance
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Comments
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The "credit score" you have quoted is completely meaningless as lenders can't see it - you should ignore it.
HSBC are by far the choosiest of the high street banks, and First Direct are the choosiest brand of HSBC.0 -
Hello, a credit score that is provided by the Credit Reference Agencies is useless as each company has different criterion for accepting or rejecting customers.
One search in a 12 month period will not effect any further applications for credit I wouldn't have thought0 -
hammersfaniow wrote: »Just tried to do a switch to First Direct Sole Account but my application apparently doesn’t meet their criteria !
My salary is approx £1100 net, so not the highest, but I’m a homeowner, mortgage free, no dependents and minimal monthly outgoings. Got a credit score of 973, which I’ve heard is pretty good, no late payments, not overdrawn etc.
Any ideas as to why it might’ve been rejected ? And will this have a big effect on my credit score ?
Thank you in advance
Phone them up and ask them to review it.
"Computer says no" can be overturned.0 -
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hammersfaniow wrote: »Do banks do that just by ringing them and questioning it ? I!!!8217;m not desperate to go chasing a bank that doesn!!!8217;t want me, but thought it was worth trying after so many good reviews0
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So in other words, they dont have to give a reason so I would be none the wiser ! Good old banks eh !0
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hammersfaniow wrote: »So in other words, they dont have to give a reason so I would be none the wiser ! Good old banks eh !
For what it's worth, I don't really think First Direct are all that. Their website is appalling and their app was a faff when I had them for a few months this time last year.
HSBC group (including First Direct) send out correspondence at an absolutely glacial pace so you'd be waiting forever on cards, PINs and all that.
If you're looking at direct, app only banks I wouldn't hesitate to recommend Starling Bank.
For everything else I tend to recommend either Tesco Bank, TSB or Nationwide.0 -
Apart from a potential switching bonus you are not missing out on much imho. A convoluted online registration process, a pretty poor app.0
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agree with both comments above and recommend starling too0
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You can ask them for a reason, and ask them to reassess the application - but it's likely that the answer will be "you didn't meet our criteria" (which they don't need to elaborate any further on), and the answer to the reassessment will be the same.
Or they may say "Oh yes we have reviewed and you're in"
Surely worth a phone call for £125 switching bonus???
If they still say no then you have lost nothing apart from 5 mins on the phone.0
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