Chase / Refused

Hoenir

tomxlisa said:

HillStreetBlues said:

tomxlisa said:

Hoenir said:

tomxlisa said:

 I have just opened 2 new bank accounts with other providers not sure if that’s maybe why?.

Highly possible. 

Maybe I should have left it a few months or something, just thought as they don’t do hard searches it would be fine. 

Chase was the 4th current account I opened within a short period of time. I've now done 10 in 9 months and not been rejected for any. Might be something else flagged up.

It’s definitely a strange one but I do already have 5/6 current accounts and the chase account would of been the 7th so maybe too many accounts, I’ve just opened a lloyds and nationwide account so can’t see there being anything serious wrong with my credit files unless that’s why it got rejected cause the recent applications. 

Banks operate to make a profit. Potential customers that don't meet their target profile are of no interest.  Multiple personal bank accounts opened in a short space of time are possibly an indication of someone intending to undertake activity of concern. 

tomxlisa

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I’ve got 6 accounts in total now if chase would of given me one that would of been 7, as my virgin got closed when I switched and I’ve just closed another account so not 10, and it wasn’t all within 9 months either. 

tomxlisa

Hoenir said:

tomxlisa said:

HillStreetBlues said:

tomxlisa said:

Hoenir said:

tomxlisa said:

 I have just opened 2 new bank accounts with other providers not sure if that’s maybe why?.

Highly possible. 

Maybe I should have left it a few months or something, just thought as they don’t do hard searches it would be fine. 

Chase was the 4th current account I opened within a short period of time. I've now done 10 in 9 months and not been rejected for any. Might be something else flagged up.

It’s definitely a strange one but I do already have 5/6 current accounts and the chase account would of been the 7th so maybe too many accounts, I’ve just opened a lloyds and nationwide account so can’t see there being anything serious wrong with my credit files unless that’s why it got rejected cause the recent applications. 

Banks operate to make a profit. Potential customers that don't meet their target profile are of no interest.  Multiple personal bank accounts opened in a short space of time are possibly an indication of someone intending to undertake activity of concern. 

Yeah maybe I’m just not a potential customer for them but all this concern talk is silly really as surely people do this all the time with bank switching, there’s a guy on YT who has around 20 bank accounts, but maybe I’m just not a profitable customer for them, I’m guessing if it was a CIFAS problem my other bank accounts opened recently wouldn’t of been possible and maybe my current ones closed too?.

HillStreetBlues

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

TSB twice, Ulster, Santander, Barclays, Co-op, Nationwide, Chase, RBS & Virgin. I was hoping for the dozen for the year, but looking unlikely now.

Middle_of_the_Road

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I don't think it is. At the start of 2023 I'd had one bank account with NatWest since the early 80s.
I now have 16 current accounts for various reasons, mainly to get access to regular savers.

Not been refused opening accounts anywhere, although HSBC wanted to see two year's business accounts, just to open a personal current account. 

tomxlisa

Middle_of_the_Road said:

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I don't think it is. At the start of 2023 I'd had one bank account with NatWest since the early 80s.
I now have 16 current accounts for various reasons, mainly to get access to regular savers.

Not been refused opening accounts anywhere, although HSBC wanted to see two year's business accounts, just to open a personal current account. 

Which is why I find it strange that I didn’t get a chase account but I can’t think of anything else it can be, maybe they do a hard search and I was rejected because of that, can’t think of anything else unless it’s purely because I’m not a profitable customer.

Middle_of_the_Road

tomxlisa said:

Middle_of_the_Road said:

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I don't think it is. At the start of 2023 I'd had one bank account with NatWest since the early 80s.
I now have 16 current accounts for various reasons, mainly to get access to regular savers.

Not been refused opening accounts anywhere, although HSBC wanted to see two year's business accounts, just to open a personal current account. 

Which is why I find it strange that I didn’t get a chase account but I can’t think of anything else it can be, maybe they do a hard search and I was rejected because of that, can’t think of anything else unless it’s purely because I’m not a profitable customer.

It does seem strange. Maybe try again in a few weeks. You've nothing to lose, and it could be you get a different result.

tomxlisa

Middle_of_the_Road said:

tomxlisa said:

Middle_of_the_Road said:

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I don't think it is. At the start of 2023 I'd had one bank account with NatWest since the early 80s.
I now have 16 current accounts for various reasons, mainly to get access to regular savers.

Not been refused opening accounts anywhere, although HSBC wanted to see two year's business accounts, just to open a personal current account. 

Which is why I find it strange that I didn’t get a chase account but I can’t think of anything else it can be, maybe they do a hard search and I was rejected because of that, can’t think of anything else unless it’s purely because I’m not a profitable customer.

It does seem strange. Maybe try again in a few weeks. You've nothing to lose, and it could be you get a different result.

I’m not really fussed it doesn’t give me any great benefits at all I was just gonna use it for the switching as it saved me doing repeat hard checks, they also said I can’t apply again id have to go down an appeal route. 

tomxlisa

Middle_of_the_Road said:

tomxlisa said:

Middle_of_the_Road said:

km1500 said:

TBH 10 current accounts in nine months is a bit unusual even for money saving experts

I don't think it is. At the start of 2023 I'd had one bank account with NatWest since the early 80s.
I now have 16 current accounts for various reasons, mainly to get access to regular savers.

Not been refused opening accounts anywhere, although HSBC wanted to see two year's business accounts, just to open a personal current account. 

Which is why I find it strange that I didn’t get a chase account but I can’t think of anything else it can be, maybe they do a hard search and I was rejected because of that, can’t think of anything else unless it’s purely because I’m not a profitable customer.

It does seem strange. Maybe try again in a few weeks. You've nothing to lose, and it could be you get a different result.

I did try chase again yesterday and it got to the part where you click open an account and it just come back saying can’t open account again, very strange one as they don’t even do a hard credit check, surely can’t be nothing to do with a CIFAS or anything as I’m managing to open other banks and credit cards etc, so I guess I’ll just have to put it down to maybe I’m not financially healthy for them?.

PRAISETHESUN

Chase don't have an obligation to offer you an account if they don't want to. They'll have internal criteria, which they won't disclose, and for some reason you aren't meeting it. Might be worth requesting copies of your credit reports from all 3 CRAs and maybe DSARs to CIFAS and National Hunter to see if anything adverse is recorded, but I suspect you probably won't get to the bottom of it.