Lloyds TSB - new account

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
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simaxsimax Forumite
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
Quick one guys,

Opened up a Silver account with Vantage today as I'm fed up with Nationwides interest rate drops.

Got debit card but no offer of an overdraft or chequebook. Something I have (albeit a v.small OD) on Nationwide.

Not a big deal, but do LTSB do internal scoring like HSBC do? So, if the account is run properly, they'd offer extra facilites in time? Any experiences out there?

As an idea generally, the account will carry a balance of approx £2,500 to £3,000 a month and will be funded £1,200+ a month.

Cheers,

Si
I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
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Replies

  • sutton111sutton111 Forumite
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    Yes Lloyds offer a scoring system from 1-9. 1 being best and 9 being worst.

    They will offer better facilites based on your internal score like HSBC do.

    If you ask a telephone advisior they may tell you your "rating".
  • simaxsimax Forumite
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    Thanks Sutton111,

    How long does it take to get a score? I'm presuming 4-6 months?
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • sutton111sutton111 Forumite
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    Around 6 months.

    Have you enquired about your score yet. If you want a Cheque book ring them and ask.
  • simaxsimax Forumite
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    sutton111 wrote: »
    Around 6 months.

    Have you enquired about your score yet. If you want a Cheque book ring them and ask.

    No. Account was only opened today and they couldn't offer a chequebook at the moment. No biggie, as I'll keep the Flexaccount running for that purpose if I need a cheque writing until the circumstances change.
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • sutton111sutton111 Forumite
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    You may not get a cheque guarantee card neither, if you care that is.
  • simaxsimax Forumite
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    It's the only niggly thing about the move over, as I do use the cheque facility for take aways and the like.

    Also, does the internet banking facility tell you what you are "pre-approved" for?
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • [Deleted User][Deleted User] Forumite
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    No, it doesn't.
  • simax wrote: »
    It's the only niggly thing about the move over, as I do use the cheque facility for take aways and the like.

    Also, does the internet banking facility tell you what you are "pre-approved" for?

    You should know what you have been pre-approved for after an application has been credited scored. Did you go to the branch and request opening a new account and went through procedures and checking ur ID?

    If you did, what it says on the screen that you are pre-approved for?

    I had mine searched 2 weeks ago at the branch and was approved up to 250 interest free overdraft with platinum. Platinum card have a 250 cheque guarantee on card.
  • simaxsimax Forumite
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    noah271007 wrote: »
    You should know what you have been pre-approved for after an application has been credited scored. Did you go to the branch and request opening a new account and went through procedures and checking ur ID?

    If you did, what it says on the screen that you are pre-approved for?

    I had mine searched 2 weeks ago at the branch and was approved up to 250 interest free overdraft with platinum. Platinum card have a 250 cheque guarantee on card.

    What I mean is: I know what I've got now, but how easy is it for me to find what I'm pre-approved for in say 6-12 months time? Does it show on internet banking or do I have to ask in branch?

    Sorry if this sounds like a stupid question but I've just had 10 years with Nationwide who only upgraded me to a debit card after 8 years of nagging and only 2 weeks ago approved a buffer-zone overdraft for me, even though theren is no adverse on my account, and it always runs in 4 figures. They seem to want to credit check me for farting LOL :rotfl:
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • rb10rb10 Forumite
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    simax wrote: »
    What I mean is: I know what I've got now, but how easy is it for me to find what I'm pre-approved for in say 6-12 months time? Does it show on internet banking or do I have to ask in branch?

    It depends on how you run your account in the meantime, e.g. how much you credit it with per month, whether you go overdrawn/over an overdraft limit, and probably also take into account other accounts held there as well.
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