credit check and student/current accounts

tiger

if you have current accounts with hsbc and halifax and want to convert both to student account will they do credit checks?
and if they do credit checks and accounts are converted or not converted will that have any effect on future credit scoring?

chugalug

I had a Halifax current account and converted this to a student account (just for the free overdraft!). I had no end of problems with the muppets that pass for staff there. Anyway, to get to the point, as far as I'm aware I wasn't credit checked as I already had an overdraft etc I just wanted this free. Why don't you ask? If they do a credit check surely they have to ask your permission first?

peace-babies

i used to work in a bank not so long ago and as far i can remember the bank has to make you aware that they will/ could conduct a credit check on you (usually in he t's and c's) that goes for an increase in overdraft. if they dont tell you/ write it down then as far as i can remember they are in breach of financial guidelines. if you do have a credit check it shouldnt have any major impact on your credit score.

surfcat

They do have to tell you about the credit check, although not verbally. It will be on the application form for the account and will be in the print where you put your signature. Something like: "by signing this agreement you agree to terms and condions of the account and agree that we conduct a search through credit reference agencies." They don't have to take your application and then ask you about credit checks.

lols_3

I opened a Natwest student account in september last year and read in the leaflet when I was signing up for the overdraft that a credit check was going to be carried out. I was a bit worried as I had debt on credit cards. I asked the lady in the bank about it and she said that LOADS of students had come in to apply for the student account and overdraft and only about 2 people were turned down through the credit check.

By the way get the Natwest student account, you get the largest overdraft and I got a free young persons 5 year rail card which has come in handy as it can be used in july and august to get a third off travel before 9.30am. It has saved me a small fortune this summer as I have been getting the train to London everyday to work. If you don't want the rail card you can choose 55 cash instead.