nawest!! help from all

darcyvuqua

hi i opened a natwest account and credited it with 600 £ and have added another £100 since it was opened 3 weeks ago what i wanted to know is how will it work to get an inturnal approval for a natwest credit card if i just keep adding money with no withdrawals i have read in some threads that natwest throw cards at you if you prove via your account that you are in fact a good customer any help would be great

skyrider007

If their cc lending criteria is based on the amount of money in a current account then I would say £700 would be a fraction of what they are looking for. Three weeks is a very short amount of time in terms of monitoring your account activity and behaviour. There are few ways that you can improve your internal score with the bank:

1) The length of the time that you've been with them (the longer the better)
2) The amount and frequency of money coming into the account (the more the better)
3) Indication of fund regularly being deposited into their savings account
4) Use of cheques, Maestro Debit Card, Direct Debits and Standing Orders (the more the better)
5) Frequency of ATM cash withdrawal (preferably less than 4 times a month)
6) Not beyond agreed overdraft limit or overdraw if o/d facility is not provided
7) Have a variety of products from the bank (savings, sharedealing, o/d, insurance, mortgage etc).

It would take at least six-months before you start improving internal score from scratch.

Apply for the card now if you want and see what happens. If declined, manage your account as advised above and your internal score should improve substantially.

benf90

I doubt anyone on here could say for definate unless they worked for Natwest and were in a position to know their credit scoring policy.

Generally, banks will build up a profile of a customer over time. It probably won't just go by the amount of money you have in the account, but how you've managed it. Staying within overdraft limits if there is one, or keeping the account with a positive balance etc will all work in your favour.

You're still a very new customer to them so if you're looking to get a credit card sometime soon then you may need to consider your options carefully.

You haven't said why you're looking to get a card from Natwest in particular but whatever reason it is this site has guides for people with different types of credit history.

If you haven't done so already it might be well worth reading through some of these guides, which can be found here:

http://www.moneysavingexpert.com/cards/

Moggles_2

CCJs and defaults are on file for six years from the date registered. (I read some of your other posts) The only way your credit file (and therefore your chances of a credit card) will improve significantly is over time.

Your efforts are not in vain though. The way you manage your NatWest account will affect your bank's internal score and lenders like stability so, if you stick with the same bank, your chances of acceptance are that much better when your CCJs drop off your credit file.

Meanwhile, for tips to improve your chances of cc acceptance, have a look at the *Credit Rating* articles on the main site, especially Martin's *Manage and Improve your credit score* checklist. Building a good credit history takes time.

I hope this helps.