Natwest Upgrading My Account?

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
8 replies 1.3K views
Legacy_userLegacy_user Forumite
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
My credit ratings not the best so I've had a step account from Natwest for the past 6-8 months, I've never had a problem with the account and never been charged etc etc. Today I get a call saying I am entitled on an upgrade on my account to a current account, I found this odd as I have a low credit rating and never get regualr debit cards or cheque books:confused:

I'm wondering was this more of an invitation to apply to upgrade my account? The advisor sounded like it was mine without any problems, I just had to sign something she was sending out. I'm happy with my step account and don't want anymore credit searches on my file,

What yous think?

Replies

  • inmypocketnottheirsinmypocketnottheirs Forumite
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    Up to you to decide. If you don't want it, don't take it.
    Don't lie, thieve, cheat or steal. The Government do not like the competition.
    The Lord Giveth and the Government Taketh Away.
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  • Hi Nirelandguy could you tell me how bad your credit is? Defaults? CCJ's? just that i also have a Step Account, and would love for it to be upgraded. But have had it about 6 months.
  • talesstaless Forumite
    244 Posts
    Hi Nirelandguy, I'd suggest you go for it. Get yourself upgraded to a full current account. I think it will be a significant step to building up your credit rating - you don't have to access credit, but it will always be a wonderful thing to know that if you do need the credit, it is in within your hands.
  • I Used to work for Natwest, they have their own credit rating system based on how well you run your account, the system then gives them product reccomendations, this is why they have offered you an upgrade. As advised before,you don't have to take it, but it could help your credit rating in the future.

    Hope this helps a bit.:confused:
  • Hi, does that mean that upgrading will only be based on the internal scoring system, or does it consider external agencies etc?
    Will my account be upgraded before i have cleared all of my debts if my account is run correctly?
    I have around £2000 a month paid into my account, and have never had any charges etc, and never been overdrawn.

    Also, would this be an automatic process, or would i have to ask about it?

    Thanks
  • SystemSystem Forumite
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    Well should of known better, Just to keep you updated. The advisor I originally spoke to sent out the form I signed it all good. I heard nothing so I phoned today, declinded!!! I said I was told I was entitled to an upgrade, she said, yes it shows on our computer you are entitled but when I put it through its declinded. So work that one out
  • SystemSystem Forumite
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    As you never really wanted it, no great loss, just some hassle!

    I saw you other question about the use of keeping an account.I would personally say yes, you dont need to use it, but it means if you get a cheque or change jobs then its ready.

    But do whatever works for you, especially if bank charges are involved.
  • talesstaless Forumite
    244 Posts
    Well should of known better, Just to keep you updated. The advisor I originally spoke to sent out the form I signed it all good. I heard nothing so I phoned today, declinded!!! I said I was told I was entitled to an upgrade, she said, yes it shows on our computer you are entitled but when I put it through its declinded. So work that one out

    Hey Nirelandguy,

    I remember in the early days when I first arrived in the UK, I was offered a Step account. After reading more about bank accounts (and also because I want a cheque book), I asked if I could upgrade to a Current Plus account. The staff told me I can't - I will need to have an account with them at least 12 months.

    One day (about 7 months after my Step account) when I was playing around with the online banking system, I saw this "Open a Current Account" link. I clicked on it, and was really tempted to apply for the Current Plus online, and I did. And viola! I got a Current Plus. I subsequently have my Step account cancelled, and here I am a happy user (well, not really, still don't like Natwest much) of Current Plus!

    So you may want to try this if you want the Current Plus (though you mentioned in your first post that you dont think it's necessary)
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