Do you think First Direct will reopen to new customers in 2020?

mrkds

ischris85 said:

I have never been turned down for an account previously. How do you know you've been turned down for an account?

They said so after I completed the application. Something along the lines of "we are sorry but we cannot offer you an account at this time". Not even "we have to do some extra checks and get back to you"  - it was an immediate decision! That's why I think there is some error in the processing of the application rather than something wrong with me specifically. My understanding is that credit checks for current accounts are done  for the purpose of identity checks and fraud prevention rather than for assessing credit worthiness. 

colsten

mrkds said:

ischris85 said:

I have never been turned down for an account previously. How do you know you've been turned down for an account?

They said so after I completed the application. Something along the lines of "we are sorry but we cannot offer you an account at this time". Not even "we have to do some extra checks and get back to you"  - it was an immediate decision! That's why I think there is some error in the processing of the application rather than something wrong with me specifically. My understanding is that credit checks for current accounts are done  for the purpose of identity checks and fraud prevention rather than for assessing credit worthiness. 

A current account is a credit account as you can go overdrawn even if you haven't asked for an overdraft. The FD current account does come with an automatic overdraft offer, if you get accepted for the account. Therefore they definitely assess your creditworthiness. Whether the rejection was due to their view of your creditworthiness or another factor, you will probably never know. You can certainly ask to be reconsidered but don't be disappointed if the answer remains the same, they have no obligation to give you an account.

ischris85

colsten said:

mrkds said:

ischris85 said:

I have never been turned down for an account previously. How do you know you've been turned down for an account?

They said so after I completed the application. Something along the lines of "we are sorry but we cannot offer you an account at this time". Not even "we have to do some extra checks and get back to you"  - it was an immediate decision! That's why I think there is some error in the processing of the application rather than something wrong with me specifically. My understanding is that credit checks for current accounts are done  for the purpose of identity checks and fraud prevention rather than for assessing credit worthiness. 

A current account is a credit account as you can go overdrawn even if you haven't asked for an overdraft. The FD current account does come with an automatic overdraft offer, if you get accepted for the account. Therefore they definitely assess your creditworthiness. Whether the rejection was due to their view of your creditworthiness or another factor, you will probably never know. You can certainly ask to be reconsidered but don't be disappointed if the answer remains the same, they have no obligation to give you an account.

The FD overdraft offer is no longer automatic - note the £250 overdraft option is now subject to status. The overdraft can be applied for during the application.

mrkds

The other thing just rr reading the eligibility criteria here 

https://dco-ao.firstdirect.com/current/1st/eligibility

Very basic set of criteria (that I meet). No mention of having to pass a credit check, except for the overdraft, which  as mentioned, is optional. 
I will try calling today once I find a phone number for them. 😄

ischris85

mrkds said:

The other thing just rr reading the eligibility criteria here 

https://dco-ao.firstdirect.com/current/1st/eligibility

Very basic set of criteria (that I meet). No mention of having to pass a credit check, except for the overdraft, which  as mentioned, is optional. 
I will try calling today once I find a phone number for them. 😄

Number for new customers - 0800 917 2424

ischris85

mrkds said:

The other thing just rr reading the eligibility criteria here 

https://dco-ao.firstdirect.com/current/1st/eligibility

Very basic set of criteria (that I meet). No mention of having to pass a credit check, except for the overdraft, which  as mentioned, is optional. 
I will try calling today once I find a phone number for them. 😄

I think their stance would be that, that is a list of those who can apply for an account. However, FD does not need to sell that product to everyone who applies.

mrkds

ischris85 said:

Number for new customers - 0800 917 2424

Thanks. Gave them a ring. Just said I didn't meet their eligibility criteria. Wouldn't give me any further information. So they have a set of hidden criteria that is different to the one they publish on their website. Quite frustrating. 🙁

ischris85

mrkds said:

ischris85 said:

Number for new customers - 0800 917 2424

Thanks. Gave them a ring. Just said I didn't meet their eligibility criteria. Wouldn't give me any further information. So they have a set of hidden criteria that is different to the one they publish on their website. Quite frustrating. 🙁

You could make a complaint which may or may not work in your favour.

mrkds

ischris85 said:

You could make a complaint which may or may not work in your favour.

I think I will let sleeping dogs lie. I'm not super desperate for an account. I just wanted to bag their 2.75% regular saver before it disappears. 😉

ischris85

mrkds said:

ischris85 said:

You could make a complaint which may or may not work in your favour.

I think I will let sleeping dogs lie. I'm not super desperate for an account. I just wanted to bag their 2.75% regular saver before it disappears. 😉

I'm doing it for the same reason