Risk Band / Credit Grade - What do they mean?

chris50337

I have just been into my local bank to make some changes to my account, and the bank manager left the screen facing me whilst he left the room - on the screen was my 'risk band' and 'credit grade'. Now it's nice to know something they don't think I do (but believe I'm perfectly entitled to know), but the numbers don't really mean anything to me.

What scales are these numbers on? Bank is NatWest, risk band is a single digit and the credit grade is a letter and a single digit.

jonesMUFCforever

I don't work for Nat West but can guess that risk band would run from 1 to 9 - 1 being the very best type of customer for them 9 - well you are wasting your time!

Risk band 1-3 might be offered the best loan rates 4-6 offered higher rates 7-9 probably would not get a loan certainly without an appeal through their lending department.

Credit grade I'm not so sure about. Again guessing something like A

jonesMUFCforever

I don't work for Nat West but can guess that risk band would run from 1 to 9 - 1 being the very best type of customer for them 9 - well you are wasting your time!

Risk band 1-3 might be offered the best loan rates 4-6 offered higher rates 7-9 probably would not get a loan certainly without an appeal through their lending department.

Credit grade I'm not so sure about. Again guessing something like A - E perhaps so A1 would be good - they would assume that you are a saver and therefore might pitch savings products at you.

We are always told to close down and lock any screens when leaving the room so I think this is a bit naughty of them to leave it for you to see.

chris50337

Thanks for your reply, I don't understand how they came to rate me like they did but at least I know what it means

He turned the screen away when he came back in, shame I didn't have time to read any other info

Mark7799

When I worked we only had risk grades - these ran from 1-10, 1 being best, 10 being worst. It usually revolved around the behaviour of your account - do you go overdrawn above limits, is there a regular income coming in, etc etc.