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M&S Bank Current Account Rejection
Mikkelzzz3
Posts: 21 Forumite
Hey all, I am currently applying & switching bank accounts, to sweep up all those nice switching bonuses.
Today I got declined for a current account the first time. This was a M&S Current Account. My question is: Do M&S have higher standards than other banks?
Would it be safe for me to start a new current account application with First Direct (Do they have "lower standards"), or will every bank decline me now, and for how long?
Today I got declined for a current account the first time. This was a M&S Current Account. My question is: Do M&S have higher standards than other banks?
Would it be safe for me to start a new current account application with First Direct (Do they have "lower standards"), or will every bank decline me now, and for how long?
0
Comments
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Check your credit files for any defaults, late payments etc. first before making multiple applications0
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First Direct are amongst the 'choosiest'. As are HSBC. Spot the theme here;)
I would try a completely different group, but a check of your credit files is a good idea.0 -
In case you haven't managed to 'spot the theme' as you aren't aware, HSBC, First Direct and M&S are all part of the same group, so the former two aren't recommended following an M&S decline.
Lloyds, Halifax and Bank of Scotland are another group.
Natwest and Royal Bank of Scotland are another.
Anyone else is out on their own.
As another poster suggested, do check your credit files before applying elsewhere. Never pay for these, as you can get them all via the free services. See this article for details: https://www.moneysavingexpert.com/loans/check-free-credit-report#free0 -
Another group of stable mates are Clydesdale & Yorkshire + the new 'B'
Isn't Tesco affiliated to RBS?- or am I imagining things??Being polite and pleasant doesn't cost anything!
-Stash bust:in 2022:337
Stash bust :2023. 120duvets, 24bags,43dogcoats, 2scrunchies, 10mitts, 6 bootees, 8spec cases, 2 A6notebooks, 59cards, 6 lav bags,36 angels,9 bones,1 blanket, 1 lined bag,3 owls, 88 pyramids = total 420total spend £5.Total for 'Dogs for Good' £546.82
2024:Sewn:59Doggy ds,52pyramids,18 bags,6spec cases,6lav.bags.
Knits:6covers,4hats,10mitts,2 bootees.
Crotchet:61angels, 229cards=453 £158.55profit!!!
2025 3dduvets0 -
Thank you everyone!
My credit file looks good. No overdue payments. No Loans, paying credit cards in full every month.
I think I got declined because of the numerous current account applications I have made in a very short period. Around 6 in 3 months. (All successful until now)
I will take a 2 month break, then try M&S again. Is that a good strategy, or is 2 months too little?0 -
Katiehound wrote: »Isn't Tesco affiliated to RBS?- or am I imagining things??
Originally, but then Tesco went its own way in 2008."In the future, everyone will be rich for 15 minutes"0
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