How did I even qualify for a Halifax current account in the first place?

deadendwaterfall

My account was opened when I was 16, back in February 2009 and somewhere along the line (not sure exactly when), my account was upgraded to a current account I can definitely remember having since at least 2012. Considering I didn't enter paid employment until at least 2015, and I know you need a certain credit rating to have a current account, I'm amazed I was given an upgraded account. Is it policy or was it policy a while ago for Halifax to automatically upgrade accounts opened before the owner is 18 to current accounts once he or she turns 18?

Next step for me is the reward account as they've told me I'm now eligible for it.

DCFC79

deadendwaterfall wrote: »

My account was opened when I was 16, back in February 2009 and somewhere along the line (not sure exactly when), my account was upgraded to a current account I can definitely remember having since at least 2012. Considering I didn't enter paid employment until at least 2015, and I know you need a certain credit rating to have a current account, I'm amazed I was given an upgraded account. Is it policy or was it policy a while ago for Halifax to automatically upgrade accounts opened before the owner is 18 to current accounts once he or she turns 18?

Next step for me is the reward account as they've told me I'm now eligible for it.

You needed a certain credit history yes but not credit rating (that only you can see), you needed to fulfill criteria set out by Halifax to get the account.

deadendwaterfall

DCFC79 wrote: »

You needed a certain credit history yes but not credit rating (that only you can see), you needed to fulfill criteria set out by Halifax to get the account.

But up until 2014, I'd never had any form of credit, (in 2014 I got a mobile phone contract from Virgin Media but my stepdad was the account holder, just the direct debit was set up on my account).

ValiantSon

I think you may be a little confused. A current account is simply an account that allows you to make payments in and out for the management of regular cash flows. Many people have current accounts from the age of 16 or 18. Some people find it difficult to get a current account and have to make use of a 'basic bank account', but even this is a current account, but one which doesn't allow overdrafts. Everybody starts at 18 without a credit history, and yet the majority of us are able to get a current account.

deadendwaterfall

DCFC79 wrote: »

You needed a certain credit history yes but not credit rating (that only you can see), you needed to fulfill criteria set out by Halifax to get the account.

ValiantSon wrote: »

I think you may be a little confused. A current account is simply an account that allows you to make payments in and out for the management of regular cash flows. Many people have current accounts from the age of 16 or 18. Some people find it difficult to get a current account and have to make use of a 'basic bank account', but even this is a current account, but one which doesn't allow overdrafts. Everybody starts at 18 without a credit history, and yet the majority of us are able to get a current account.

I thought with Halifax, if your account is a basic one which has no contactless card, and doesn't support offline payments, and doesn't allow overdrafts it can't be called a current account as all current accounts can go overdrawn at least unauthorised.

ValiantSon

deadendwaterfall wrote: »

I thought with Halifax, if your account is a basic one which has no contactless card, and doesn't support offline payments, and doesn't allow overdrafts it can't be called a current account as all current accounts can go overdrawn at least unauthorised.

No, a current account is an account that has facilities for allowing day to day management of money in and out of the account. Current accounts often do allow overdrafts, but basic accounts don't: nonetheless they are still current accounts.

Ben8282

I don't think anybody could really answer your question but what exactly is your problem?

surreysaver

Bank accounts held by children would normally be upgraded to an adult account, as adults wouldn't fit the parameters needed for an account designed for a child

deadendwaterfall

Ben8282 wrote: »

I don't think anybody could really answer your question but what exactly is your problem?

None, I'm just interested to know how things work.