HSBC Behaviour score

efallai

Cleosmum wrote: »

Right, told today that my score will be updated on 7th of the month and that to get my score up I need to not go OD (which I dont) and also not miss any payments on my loan (never missed a payment) so by rights my score should be way higher than 38?! I need to get to 40 so that I can get my switch card back, how long do you reckon that will take? Ah I can still remember when my score was over 70, but then I had no debts then.....

Credits to the account play into the scoring I believe as my score is consistently higher to when I was on half the salary I'm on now. And a good balance on and around the 7th of the month is needed as they do all the calculations then.

Also, apply for one of their savings accounts and set up a regular standing order even if it's just a small amount...

Marc

Careful_with_that_Axe

This has been an eye opening thread! Fascinating stuff on something I didn't even know existed. Thank you for all the informative posts.

Cleosmum

efallai wrote: »

Credits to the account play into the scoring I believe as my score is consistently higher to when I was on half the salary I'm on now. And a good balance on and around the 7th of the month is needed as they do all the calculations then.

Also, apply for one of their savings accounts and set up a regular standing order even if it's just a small amount...

Marc

Thanks. I have money going in weekly and also 3 credits monthly. I pay quite alot by SO or DD and then I tend to take the rest out and use cash or I forget what I have spent . Last month I put my rent into my flex saver and earned 34p interest with it just being in there for 14 days, so will make that a regular thing. Do you think transferring money in will work just as well as setting up a SO? I can set up a regular transfer online which is automatic, would a SO get lost in the system for days?

efallai

Cleosmum wrote: »

Thanks. I have money going in weekly and also 3 credits monthly. I pay quite alot by SO or DD and then I tend to take the rest out and use cash or I forget what I have spent . Last month I put my rent into my flex saver and earned 34p interest with it just being in there for 14 days, so will make that a regular thing. Do you think transferring money in will work just as well as setting up a SO? I can set up a regular transfer online which is automatic, would a SO get lost in the system for days?

My friend who works for the bank told me to set up a standing order and from what I remember when the computer trawls your record it can see the SO in the list and see that it's going to a savings account... It won't get lost in the system either - it's instant. Our SO to savings goes out of our joint account the day after payday and it just goes straight across.

Also cash withdrawals can impact on your score - card authorisation services earn a %age of the amount when you use your card in shops PLUS they can see where you're spending - so if you can use your card whenever you can.

Marc

Cleosmum

efallai wrote: »

My friend who works for the bank told me to set up a standing order and from what I remember when the computer trawls your record it can see the SO in the list and see that it's going to a savings account... It won't get lost in the system either - it's instant. Our SO to savings goes out of our joint account the day after payday and it just goes straight across.

Also cash withdrawals can impact on your score - card authorisation services earn a %age of the amount when you use your card in shops PLUS they can see where you're spending - so if you can use your card whenever you can.

Marc

Sorry, one more! If I pay with card and get cashback will that go against me or just show as me using my card?

efallai

Cleosmum wrote: »

Sorry, one more! If I pay with card and get cashback will that go against me or just show as me using my card?

I didn't ask that - although I know that the bank can tell when you've had cashback as they split it on my statements - the total will be the cost+cashback, but under the payee name it also notes how much cashback was included... I can't be sure, but I err on the side of caution and pay by debit card where I can.

Marc

efallai

gt94sss2 wrote: »

efallai is wrong in stating that refusing to release your 'behaviour score' is a breach of the Data Protection Act - its not.. just as when you apply for a credit card, the credit card company don't have to tell you the exact reason if you fail to get one.

Regards
Sunil

Just wanted to add - I called the HSBC head office switchboard today and asked to speak to somebody who deals with data protection. Had a chat with the lady about the information the bank collects and then stores about you and I casually mentioned behaviour scoring... She said that bank staff would not normally expect anyone to know about behaviour scoring and that is why they might seem a bit put out if you ask them what yours is. But she did say that anyone has the right to go in and ask an advisor if they will show them their customer profile screen (which your behaviour score is displayed on). She just added that nobody should expect them to answer loads of questions about your score, but obtaining the score itself is fine.

Hope this helps everyone

Marc

efallai

I had to go in to the bank and speak to an advisor today about my accounts and being the nosey guy I am I paid full attention to my profile screen :rolleyes:

I noticed some things on there that I hadn't paid attention to before:

• Total ABL 9,000
• Add O/D 1,400

Does anyone know if I'm right in assuming that 'Total ABL' means the total amount of credit available to me from the bank, and 'Add O/D' means the most overdraft that I can request?

Marc

_Andy_

Pretty much yes, these are pre-approved limits, they used to be called 'PALs'. E.g. if you took a £2k loan out your ABL would reduce to £7k etc.

Cleosmum

Does having unused accounts linked to your main current account hurt your behaviour score? I have 2 current accounts, I sometimes get amounts paid into it, but use my original account for DD, SO and debit card payments and amounts coming in. No doubt my managed loan does nothing for my behaviour score, thats linked to my main account