best current account for people with low credit ratings?

mooth

hi!
Was just wondering who is the best provider for current accounts at the moment for
people with low or poor credit ratings!!!

cifpower

You may only be offered a basic bank account with a cash card only and no overdraft or cheque book. Good running of this may lead to an upgrade 6months to 1year down the line.

Natwest have a Step Account which has a Solo debit card
Halifax has a Cardcash account with a Visa Electron debit card
Co-op has a Cashminder account with a Visa Electron debit card and no charges for bounced items.

Just pop to their websites, have a read and apply online.

mooth

thanks. Ive has a alliance and leicester account for a year now but they dont seem to want to upgrade it!!!. Ive applied for the natwest account and see how that goes.I have over £1000 going into the bank but got mysef intoa bitof a mess when i was a student with cards etc. making an effort to pay it all back now but it all affects your credit rating!!!

chilli_dog

if you run the Natwest account without any problems or for six months they usually let you upgrade, well it's not really an upgrade they open a new account for you ie current plus whilst keeping the step open unless you wish to close it.

tinalives

mooth wrote:

thanks. Ive has a alliance and leicester account for a year now but they dont seem to want to upgrade it!!!. Ive applied for the natwest account and see how that goes.I have over £1000 going into the bank but got mysef intoa bitof a mess when i was a student with cards etc. making an effort to pay it all back now but it all affects your credit rating!!!

They won't upgrade our joint account either for some reason. I think it's a con.

mooth

yeah tell me about it!!! :mad: they are meant to be the worst forup grading accounts well they wont be thinking that when i take my £2000 a month earnings elsewhere.
So do you know for definate that they do upgrade your account then chillidog?have you had this account?

BigSammyA

tinalives wrote:

They won't upgrade our joint account either for some reason. I think it's a con.

A+L are a very low-risk based company. They offer good interest rates on mortgages etc. cos they are sticklers for good credit. Don't think it's a con, they just don't like taking what they see as risks.

Darryl

Mooth

What makes you think you have a poor credit rating? I also got into a financial mess after finishing my student days, but it didn't seem to seriously affect my ability to apply for cards and accounts.

Did you have CCJs applied? If so, are they still on your credit files with the likes of Experian and Equifax? If not, then your past is not the problem, it is just the bank's policy (as BigSammy has said).

Can you also tell us what A&L accounts you're trying to upgrade from and to? We can then try and help a bit more.

Thanks

Darryl.

chilli_dog

mooth,

i can confirm that i have had a step account with Natwest.

I tried to upgrade it after a while but was refused because i had moved a direct debit and forgot to leave enough money in the account to cover it (DOH).

I was told to wait six months and try again, and to keep the account running ok

I waited and had no further problems.

I applied again and everything was ok. They set up a current plus for me.

Good Luck