‘Normal’ bank account upgraded
Jamgeorge
Posts: 89 Forumite
Hi all.
I’m a discharged bankrupt of almost 6 years (9/7/18) and I have the standard Cash account which I’ve still got from when I initially went bankrupt. My question is, LLOYDS have wrote to me and told me my account is being upgraded to a Classic account on June 28th! Obvs this is great news but will it help my credit score?? Thank you
I’m a discharged bankrupt of almost 6 years (9/7/18) and I have the standard Cash account which I’ve still got from when I initially went bankrupt. My question is, LLOYDS have wrote to me and told me my account is being upgraded to a Classic account on June 28th! Obvs this is great news but will it help my credit score?? Thank you
0
Comments
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No, because you don't have a credit score.
It may show as a change of account on your credit file, but lenders are unlikely to view that as either a positive or negative in most cases, as it is with the same provider.0 -
Brill thank you! I’ve got actual scores now though on the 3 CRA so will that all go to zero then once the bankruptcy order/discharge drops off on 9/7? Thanks0
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You don't have credit scores. You just have made up numbers that the CRAs tell you are credit scores.
They're not.0 -
Right I see. Will it be zero then once the bankruptcy has dropped off do you know??0
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It will be whatever random number is allocated to you. Could be 1, could 999.
It doesn't matter.0 -
Normally after six years any defaults are removed from the credit file.My finacial situation was terrible after my illness and defaults were everywhere but are now gone from the credit report although I was never bankrupted.The priorty is only borrow what you can afford to pay back
If you can manage money try a lender like Vanquis with a low credit limit repayment rates are higher but this will help rebuild your credit rating with regular repayments they suggest six months after discharged.they did show confidence in me and it did rebuild my rating.Its important not to get sucked into energy companies and such you do register on files.
Lloyds are normally careful about opening a standard account to people on Benefits exe I have a cash account with them because as I am on Jobseekers Allowence and they refused to move me over and also refused to run a credit check they did point out it was in everyones best interest that I didn't end up in debt at some point. I needed a contactless card for travel in london. However Metro Bank did open a current account for me running a credit check.Interestingly they do also offer a contactless card on their cash account but they decided to carry out the former.I will, keep that account because if I ever work again a cash account is not suitable.
I like Lloyds they seem a responsible bank and still do nearly all my banking with them still today.0
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