I've been refused for a current account

CeeJay

Can anyone help with a couple of questions regarding credit reference agencies please?

Yesterday I tried to open a current account with a new bank, but was refused. I keep a close eye on my credit rating, and with Experian it is good and bordering on Excellent. The only thing I can think of is that the previous day I made an application to a different bank. I'm not sure why that needed a credit check as it was for an ISA.

The request that was refused was for a current account as I want to switch banks.

First question: I can only think that applying to two different banks in two days triggered the refusal. Thoughts on that would be appreciated. If that is the case, how long should I wait before applying again? I did call the bank for advice today, but all they could say was, don't wait and reapply immediately. I fear that will just leave another marker on my  record causing even more problems in the future.

Question two: Is it possible to ask credit agencies to remove a request? I decided not to go ahead with the ISA, so that request is irrelevant.

TIA

la531983

An ISA isnt credit. It would have absolutely zero impact on absolutely anything.

It would have been an ID check.

Ayr_Rage

It would appear you do not meet the criteria for opening an account, no bank will never tell you why you failed so it's pointless asking.

What the CRAs give you by way of a score is just a made up number in the UK, they all use different maximum values and make their own assessments which are NEVER seen by any financial institution.

You cannot ask CRAs to remove anything that is a true record of events.

twopenny

It's a different thing but I was refused a credit card because I was receiving Job Seekers Allowance.

My annual income for that year was £25,000 but it made no difference. Claiming JSA meant a no. It was nothing to do with my income or reliability to repay credit.

Not sure why you would be refused a current account. Could there be anything like that in your life?

Newbie_John

Experian likes you, the bank doesn't, and as Experian doesn't offer bank accounts their score is quite meaningless.

Ive been rejected by a bank because I believe I've done a switch a ditch with them in the past.

sourcrates

I assume the current account came with an overdraft facility, why not try applying for a basic bank account with no borrowing allowed, most banks do them, but they are not widely advertised.

Almost anyone can obtain a basic bank account, Google "basic bank accounts".

CeeJay

https://forums.moneysavingexpert.com/discussion/comment/81976379#Comment_81976379

Thanks for your interesting response. Just one point about checks being removed, I do know that it is possible as a friend has it done regularly. She is a mystery shopper and some of her tasks involve the need for a credit check. Once the task is complete and her report filed, her employer has the credit check removedfrom her record.

CeeJay

@twopenny Thanks for that. Nope! I'm employed and also receive a pension. Good thought though.

CeeJay

@sourcrates Thanksfor responding. You're correct, the account comes with a free overdraft facility, that I neither need nor want. I will check back for an alternative account without the overdraft.

Ayr_Rage

https://forums.moneysavingexpert.com/discussion/comment/81977201#Comment_81977201

I smell a large degree of BS.

Nasqueron

https://forums.moneysavingexpert.com/discussion/comment/81977201#Comment_81977201

Hard searches could be removed in theory if it was some sort of business requirement for the employee to test something as a mystery shopper; that is not the same as a bank removing a search when a normal customer has applied for something which is a true record of events.