Serial switcher

therigler

Hi. I have had my applications rejected for RBS and Halifax. Could this be because I have already got several bank accounts and have been a serial switcher? Apart from the above 2, I have exhausted all other high street banks' offers. I have checked my credit score and all is good.
Thanks

Therigler:

therigler

My last one was M&S in May last year. I tried Halifax in September and was turned down then I've tried RBS this month.
Thanks for replying

therigler

I was going to go in to the bank to see if I could switch with them only to find it closed down last August

DCFC79

patta wrote: »

Experian, Use Mse credit club

Equifax, Clearscore

Transunion Noddle

Alternatives for checking reports in blue



OP who did you check your score with ?
Was there evidence of searches carried out ?
If not maybe the banks didnt check that 1 report.





OP Id hold off doing switching for now, for a couple of months at least.

PRAISETHESUN

Ignore your scores provided by the CRAs - they do not reflect creditworthiness in the eyes of lenders. Every lender (in this case the banks you applied to) will use the information on your credit files alongside any extra information provided in the application process to generate their own internal score so what matters most is your credit history. You should be checking your files to make sure all the accounts are listed correctly, no defaults, etc, rather than just eyeballing the score since that will tell you nothing useful.

Apart from a few recent searches, it doesn't sound like there is anything wrong with your files (although check with all 3 CRAs to make sure) so my guess would be that you just simply don't fit the profile of the type of customer that the banks are looking for and hence why they declined you for an account. The banks are ultimately allowed to decide who they do and do not accept as a customer so I don't think you have any recourse in this situation I'm afraid.