Rejected for First Direct

DCFC79

I tried opening an account with FD, they phoned me up wanting to know X, y and z which I understand why they asked for the information but Lloyds, TSB and Halifax weren't so intrusive in fact it was all done online. Starling or Monzo is the way I may go in the future.

WillPS

blindman wrote: »

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.

By all means try but to set expectations it'll probably make no difference.

It wouldn't be a phone call for £125 either, it's a phone call for a punt on £125. An unlikely one I would say.

hammersfaniow

To be honest, it was just the cash incentive plus reports of good service that made me want to switch, not just wanting to use an app. After hearing of differing opinions about FD, maybe it id a blessing in disguise I didn’t get accepted !

teddysmum

hammersfaniow wrote: »

To be honest, it was just the cash incentive plus reports of good service that made me want to switch, not just wanting to use an app. After hearing of differing opinions about FD, maybe it id a blessing in disguise I didn’t get accepted !

I was thinking of using our two sole Nationwide accounts , now at 1%, to earn a bonus there, but as I'm a pensioner they will probably refuse me. Our house is paid for and we have no need of loans so we don't offer much. My husband could get in as he has a pension and still works, but that would be pointless if he can't recommend me for the bonus each.


Tesco, Nationwide and TSB have not refused me on income grounds, but as has been said, they all have their own secret criteria.

ValiantSon

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

You don't fit the profile of customer that they are looking for. It really is as simple as that. Why you don't fit the profile is a more complex question and only one that we can guess at the answer to, but my money would be on the fact that you have a low income and therefore do not present as a strong prospect for selling additional products to, i.e. they don't think that they will make much money out of you, so they aren't interested.

ValiantSon

teddysmum wrote: »

I was thinking of using our two sole Nationwide accounts , now at 1%, to earn a bonus there, but as I'm a pensioner they will probably refuse me. Our house is paid for and we have no need of loans so we don't offer much. My husband could get in as he has a pension and still works, but that would be pointless if he can't recommend me for the bonus each.


Tesco, Nationwide and TSB have not refused me on income grounds, but as has been said, they all have their own secret criteria.

They do offer accounts to people who have retired, but they are more likely to offer them to those in receipt of a good pension, rather than just state pension, for example.

starM

To be honest I have been with First Direct for 19 now. First Direct and HSBC are one of my oldest account.

I recently contacted FD to change my sole account to joint. They sent me some forms to complete. application for my other half which I understand but they also need certified copies for my half and for me, Certified copy they could have done electronic checks. And ID for me when I have been with them for 19 yrs.

I never returned the forms back.

hammersfaniow

ValiantSon wrote: »

You don't fit the profile of customer that they are looking for. It really is as simple as that. Why you don't fit the profile is a more complex question and only one that we can guess at the answer to, but my money would be on the fact that you have a low income and therefore do not present as a strong prospect for selling additional products to, i.e. they don't think that they will make much money out of you, so they aren't interested.

You could well be right. Although it is a low salary, my outgoings are minimal as I own my property outright so therefore I have a fair disposable income and am not in need of loans, overdrafts etc

Oh well, never mind

starM

I don't think it relates to your income. My brother has same salary as yours and he was accepted FD account 2 years ago.

It may be because of credit scoring. If you have good running of your bank account and proof of any savings send this to them. May be 3 months statements with covering letter.

wizzywig27

I applied for an account about a year ago, I was declined. I now want to apply again as I have no overdraft etc, but as I have applied previously I have to call up to apply.

Maybe its just me, but in this day and age it seems bit backwards to have to speak to someone to apply.