Turned down for an ISA account

eskbanker

rich11 said:

Would anyone recommend me contacting CIFAS?

Yes, in the absence of any other clues - nothing to lose by doing so: https://www.cifas.org.uk/dsar

rich11

eskbanker said:

rich11 said:

Would anyone recommend me contacting CIFAS?

Yes, in the absence of any other clues - nothing to lose by doing so: https://www.cifas.org.uk/dsar

Done. 10 working days to wait. Thanks for the link 

masonic

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

rich11

masonic said:

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

Yes I was there 7 years prior to living here. I contacted them and they are going to amend it but they said that shouldn't affect any applications I make

masonic

rich11 said:

masonic said:

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

Yes I was there 7 years prior to living here. I contacted them and they are going to amend it but they said that shouldn't affect any applications I make

If you weren't asked for that address when applying for your account, then it won't make any difference. If you were asked for it, then the discrepancy may well have had an impact. Most applications don't require 7 years address history.

eskbanker

masonic said:

rich11 said:

masonic said:

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

Yes I was there 7 years prior to living here. I contacted them and they are going to amend it but they said that shouldn't affect any applications I make

If you weren't asked for that address when applying for your account, then it won't make any difference. If you were asked for it, then the discrepancy may well have had an impact. Most applications don't require 7 years address history.

Much will depend on exactly what OP meant by "I was there 7 years prior to living here", which could be interpreted as 'being there for 7 years immediately prior to moving here' or 'there was a 7 year gap between leaving the first address and moving into the current one'!  The reference to this being OP's previous address would imply the former, but then again it could be a previous address rather than the previous address....

masonic

eskbanker said:

masonic said:

rich11 said:

masonic said:

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

Yes I was there 7 years prior to living here. I contacted them and they are going to amend it but they said that shouldn't affect any applications I make

If you weren't asked for that address when applying for your account, then it won't make any difference. If you were asked for it, then the discrepancy may well have had an impact. Most applications don't require 7 years address history.

Much will depend on exactly what OP meant by "I was there 7 years prior to living here", which could be interpreted as 'being there for 7 years immediately prior to moving here' or 'there was a 7 year gap between leaving the first address and moving into the current one'!  The reference to this being OP's previous address would imply the former, but then again it could be a previous address rather than the previous address....

Good point, from the OP, the last move was "a couple of years ago", if this offending address was where they moved from it will certainly have been entered as part of the application, and if the first line of the address and postcode don't match exactly, it could very well be the reason for the issues. I read it as having been an address last lived in 7 years before moving to current address.

rich11

Sorry for the confusion I was at the previous address 7 years then in my present house for 3 years

callum9999

masonic said:

rich11 said:

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street. Credit Karma has 2 ambers. Both state that I either have too much credit for my income or too little credit

Obviously this must too little credit as I have no loans or mortgages. I applied for a credit card on one of these credit scoring sites for a card with a £200 limit. I was declined immediately 

Very frustrating 

That is a cause for concern if this is an address you've lived at in the past few years (and you were therefore asked to give this address when you applied for your account).

I'm not convinced that's a cause for concern.

I've lived in numerous places (including the last 3 years) that have had multiple ways to format the address and ended up with something like 10 addresses listed that only relate to 3 actual places. I still open credit cards and current accounts without issue.

I know it's definitely not a good thing (and makes it look like I move a lot more than I did - implying a higher credit risk), but I can't imagine that would stop a provider from offering a savings account.

dunstonh

I have done 3 different credit searches. Nothing of note comes up except on Experian where my previous address is listed as 2,2 xxxxx street when it should just be 2 xxxx street

That could be it.

Experian is one of the major databases used for anti-money laundering checks.   In my experience, inconsistent data, houses with letter in the number area (e..g 2a), house names that are not officially registered or people or addresses that appear to have multiple listings are the most common reason for the electronic check to fail.

Many banks will revert to the old fashioned method (passport/DL etc) on a failure.  However, some of these newer offerings will automatically reject on an electronic failure as they don't have the staff capacity to handle manual checks.    The more they can cut staffing and manual tasks to the bone, the better the rate they can give.