hsbc dont use there savings account

jumbo123

ive had a few ccj's against me from my student days, i think only 1 now exists (send for the 2 cra reports)

I have been reading this forum about using the savings accounts to rebuild your credit scoring.

i have had a savings account (been refused twice with the same bank for a current account) with the hsbc.

after this last refusal i pointed out to them as they fully know that i have had a savings account with them for the last 6 years, of which 25k per year has been transfered into( and out of it) on a yearly basis

The account also has just over 15k cash sitting in it.

i also have 2 credit cards for over 4 years now with capital one, ive been using these to build up my credit rating.

these credit card accounts, i started with one credit card on 200 pound limit, this was then put up to 400 limit, i was them offered another card off them and this has a 600 limit.So now for least 2 years ive had these 2 credit cards without no defaults at all on them, as clean as a whistle.


So i applied to get a current account with the hsbc the bank i have my savings account with.And was refused

The guy on the phone explained to me that the savings account does not go towards any credit rating when they asses if yo give you a current account.

i found this hard to swallow considering ive been with them 6 years and always had 1000s going in and out of the account yearly and the 15k + i have sitting in the account.


So to people here and thats many of you, that are trying to rebuild credit histories totaly forget about the hsbc, and be carefull if other bank accounts from other banks that might do this, you might find like i have that it counts as nothing.


Im off now to try some other accounts to build this rating up after years of wasting my time.

Fedz

Thank you for your post. Good to note for future reference

I knew in general savings accounts don't effect your credit score as you get no credit facility nor can a savings account be given a higher status to gain a current account.

IMHO i've always found it easier to gain credit (cards) from a 3rd party provider over your own bank, eg: I bank with Halifax and Co-Operative Bank. Halifax refuse me a credit card despite a generous current account from them but I am able to gain credit cards (and store cards) from Vanquis and BarclayCard ...etc.

I was refused a current account from Halifax at start but did get the Web Saver account - used for around 2 -3 months with salary going in and then re-applied for the current account and that was accepted.

Six of one and half a dozen of the other - so they say

Kind regards

jb478914

hi there sorry to hear about that

HSBC do basic bank accounts which can allow customers to upgrade after 3-6 months, I've seen a few people wjo have done that

jumbo123

then how come they never even offered me one of those when they declined me?????

or even sent out in the last 6 years the option of it.


waiting for the application from natwest to come through

then hsbc have lost me for ever