Lloyds TSB - new account

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
25 replies 1.7K views
2

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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?

    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:

    You will have to ask them and they will see if you can get further credit products. If your internal score is good, and you have run the account well, then they will consider offering you other credit products but some might need to be exterally credit checked.

    Just out of interest, did you get approved for up to £250 overdraft and but you decided to have the silver account, and not opt for gold and platinum or was it not offered?
  • simaxsimax Forumite
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    rb10 wrote: »
    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.

    Ah should be ok then.... will be credited £1,200 a month approx, saving about £400-500 a month out of that, and have just put in £2,000 for starting balance. Don't have any other accounts with them. Yet.

    May be ok then..... Thanks :o
    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 😂
  • noah271007 wrote: »
    Just out of interest, did you get approved for up to £250 overdraft and but you decided to have the silver account, and not opt for gold and platinum or was it not offered?

    Think u might have missed the above msg simax...

    Also as you got a silver AVA, i am curious to know what colour is for silver debit card. And is it a 2-1 function card (without CG)? Do you have an overdraft facility?
    I am on platinum but wasn't sure whether 17 quid a month is good value!
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    noah271007 wrote: »
    Just out of interest, did you get approved for up to £250 overdraft and but you decided to have the silver account, and not opt for gold and platinum or was it not offered?

    Let's not forget silver, gold and platinum are just marketing names to make their fee-paying accounts sound more desirable. Many people are better off with a plain and simple account with no monthly charges.
  • anactuary wrote: »
    Let's not forget silver, gold and platinum are just marketing names to make their fee-paying accounts sound more desirable. Many people are better off with a plain and simple account with no monthly charges.

    It sounds like anyone can have the Lloyds AVA's even to Premier so as long someone is willing to fork out fees each month? What about people who have defaults on their credit files, or missed payments. Will they qualify? or does it depends on the credit scoring during application? I have no issues with my credit history.
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    noah271007 wrote: »
    It sounds like anyone can have the Lloyds AVA's even to Premier so as long someone is willing to fork out fees each month? What about people who have defaults on their credit files, or missed payments. Will they qualify? or does it depends on the credit scoring during application? I have no issues with my credit history.
    My understanding is that the requirements are the same for all current accounts (excluding basic account, student etc). So if you qualify for the classic, you also qualify for silver, gold and platinum (but end up spending a lot more). Of course, there are a few people who get value from the fees they pay.
  • anactuary wrote: »
    My understanding is that the requirements are the same for all current accounts (excluding basic account, student etc). So if you qualify for the classic, you also qualify for silver, gold and platinum (but end up spending a lot more). Of course, there are a few people who get value from the fees they pay.

    Surely this isn't right. So in theory, if a customer have a bad credit history with several defaults on his credit file, was accepted for classic but with no overdraft and cheque guarantee and cheque book facility, the customer would then have the option to have an overdraft facility and a 250 CG just by upgrading from classic to platinum or premier even though the customer would normally NOT able to get such credit facilities elsewhere because of poor credit history!!
  • noah271007 wrote: »
    Surely this isn't right. So in theory, if a customer have a bad credit history with several defaults on his credit file, was accepted for classic but with no overdraft and cheque guarantee and cheque book facility, the customer would then have the option to have an overdraft facility and a 250 CG just by upgrading from classic to platinum or premier even though the customer would normally NOT able to get such credit facilities elsewhere because of poor credit history!!

    Criteria Criteria Criteria, You can not just upgrade to any of lloyds accounts, I hold a platinum account, and I am currently unable to upgrade to premier.

    My platinum card has a £250.00 cg, I am offered any loan
    above £7500.00 @ 7.9% but i still can't upgrade to premier:beer: But in true chav style am I bothered though
  • anactuary wrote: »
    My understanding is that the requirements are the same for all current accounts (excluding basic account, student etc). So if you qualify for the classic, you also qualify for silver, gold and platinum (but end up spending a lot more). Of course, there are a few people who get value from the fees they pay.

    And what is your understanding based upon:rolleyes:

    Platinum OD interest rate 10.4%

    Silver OD interest rate 18.9%

    You need to meet the minimum criteria berfore they are willing to lend @ those OD rates
  • Cash_Flow wrote: »
    Criteria Criteria Criteria, You can not just upgrade to any of lloyds accounts, I hold a platinum account, and I am currently unable to upgrade to premier.

    My platinum card has a £250.00 cg, I am offered any loan
    above £7500.00 @ 7.9% but i still can't upgrade to premier:beer: But in true chav style am I bothered though

    I would have thought there is a criteria depend on credit history (when opening a/c) or status within LTSB to able to upgrade.

    So i take it your credit history is very good? It should be if you are getting 250 CG and 250 interest free overdraft. Or is LTSB more interested in getting fees??
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