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Theoretic question about internatal scoring...
stardust-girl
Posts: 29 Forumite
So, say someone has run their account in the worst possible manner... overdrawn beyond overdraft limit often, always using the full amount of overdraft, not having enough to cover DDs sometimes, no linked savings whatsoever, linked credit card often being over the limit, just basic !!!!-poor management of their account. (The theoretical account being perhaps... with Natwest? 
)
Is it possible to recover from this? Will their internal scoring ever improve enough that they will be able to be offered finance products they might actually need/ use in a responsible manner in the future? Or have they screwed up their banking "relationship" - would they be better moving to an unrelated bank and start off from scratch?
The problem being, their credit score is so bad from the aforementioned behaviour that they would have to start off with a basic account, and at the present bank they still have all the full facilities, like an OD, CC, cheques and the full visa card. They (OK, obviously I!) am not compelled to give this up, but am worried I will always have a "black mark" against me and a crap "score" because of the awful way I have run my account in the past?
Any thoughts? Sorry if this is too rambley and makes no sense.
)Is it possible to recover from this? Will their internal scoring ever improve enough that they will be able to be offered finance products they might actually need/ use in a responsible manner in the future? Or have they screwed up their banking "relationship" - would they be better moving to an unrelated bank and start off from scratch?
The problem being, their credit score is so bad from the aforementioned behaviour that they would have to start off with a basic account, and at the present bank they still have all the full facilities, like an OD, CC, cheques and the full visa card. They (OK, obviously I!) am not compelled to give this up, but am worried I will always have a "black mark" against me and a crap "score" because of the awful way I have run my account in the past?
Any thoughts? Sorry if this is too rambley and makes no sense.
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Comments
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Internatal?! What the heck??
OBVIOUSLY I meant to type internal, d'oh :doh::rotfl:0 -
nothing to stop you open a new account and keep the current one.
run both immaculately and see how it goes0 -
Yes it will recover however it will take a long time.
However if your account has been managed in the conduct youve outlined above you might want try elsewhere.
As your account conduct will always be a factor when is come to offering you any lending.Im an ex employee RBS GroupHowever Any Opinion Given On MSE Is Strictly My Own0 -
How long would you call a long time stclair? Are we talking months or years?
I am not looking for finance at all, not in the slightest, at the moment. But I don't know what the future holds. And I don't know whether it is worth trying to build a new relationship from scratch or repairing my standing...0 -
Apparently 'internatal' means 'between the buttocks'.
So the 'crap score' you refer to could well be relevant.....0 -
I think that defaults will stay on file with credit reference agencies for 6 years.
The "monthly payment"/conduct history might also be 6 years, or perhaps less than this.
But 6 years is probably the worst case scenario.0 -
stardust-girl wrote: »How long would you call a long time stclair? Are we talking months or years?
I am not looking for finance at all, not in the slightest, at the moment. But I don't know what the future holds. And I don't know whether it is worth trying to build a new relationship from scratch or repairing my standing...
On the information given on the understanding your now within your limits it could take 6-8 months if not longer as the interal score only updates once a month from the info youve given itll take alot of repairing.
You might be better off opening a new account and starting a new relationship with another bank.
Plus remember they call in on your overdraft at anytime
Im an ex employee RBS GroupHowever Any Opinion Given On MSE Is Strictly My Own0 -
Does your own bank keep the history of your account for 6 years, or for as long as it is open - ie, I have had my account for 10 years, will they still have records going back 10 years or only 6 years?0
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stardust-girl wrote: »Does your own bank keep the history of your account for 6 years, or for as long as it is open - ie, I have had my account for 10 years, will they still have records going back 10 years or only 6 years?
They are entitled to keep that information as long as they wish.0
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