Current account plus with defaults

[SA Gold]

Hi,
Just looking for a current account with benefits.
Ones i actually need are:
Car breakdown and recovery
Travel Insurance
Mobile Insurance

The co-op is offering these (and more) for £13 a month although because of my defaults haven't bothered applying (it's part of the initial check on the web form).

Does anyone know if this is likely to be the same with the Halifax - my second choice.

Don't want to apply for anything which will show up on CRA if it's going to be blown out!

Cheers.

[Never-In-Doubt]

Re: Current account plus with defaults

Hi,
Just looking for a current account with benefits.
Ones i actually need are:
Car breakdown and recovery
Travel Insurance
Mobile Insurance

The co-op is offering these (and more) for £13 a month although because of my defaults haven't bothered applying (it's part of the initial check on the web form).

Does anyone know if this is likely to be the same with the Halifax - my second choice.

Don't want to apply for anything which will show up on CRA if it's going to be blown out!

Cheers.

Mate they all use credit scoring (consider similar to the Delphi model) - best to apply and see. I just opened a new Santander 123 and my credit file is fucked, literally

I also have 7 other full bank accounts, all within 3 years old (ie after my ID Fraud etc)... I opened the HBOS accounts when I had 27 defaults, now I only have about 5 defaults (HBOS have given me about £5k in OD as well)

[SA Gold]

Re: Current account plus with defaults

Mate they all use credit scoring (consider similar to the Delphi model) - best to apply and see. I just opened a new Santander 123 and my credit file is fucked, literally

I also have 7 other full bank accounts, all within 3 years old (ie after my ID Fraud etc)... I opened the HBOS accounts when I had 27 defaults, now I only have about 5 defaults (HBOS have given me about £5k in OD as well)

Cheers Nid.

On that basis, do you/members of the forum know:

If i upgraded an existing account, is the bank likely to do a credit check on the basis that i am an existing customer?
I don't want to apply for crap (like this) i can get away with (like paying RAC directly) if it's going to log something on my already bollocks credit file and starting the 3/6 year search date off again.

Does anyone know what is harmful, what isn't and the time left on?
For example, i've read on AAD that the last thing you want on a credit file is "mortgage application refused". I dare say this is far more harmful than being refused an upgraded current account but love to know more about this type of thing.

Cheers.

[Never-In-Doubt]

Re: Current account plus with defaults

nobody knows if you were refused mate - a search stays a year only - apply and see mate, who do you currently use and what type of account do you have?

Co-Op is hard, for full accounts. Bank of Scotland is easier. When you apply to upgrade, it depends as some basic accounts are non-upgradeable so it's best to try for a new account.

[Never-In-Doubt]

Re: Current account plus with defaults

p.s. read this ---> Credit Reference Agencies - allaboutFORUMS

Explains the search processes etc for you

[SA Gold]

Re: Current account plus with defaults

nobody knows if you were refused mate - a search stays a year only - apply and see mate, who do you currently use and what type of account do you have?

Co-Op is hard, for full accounts. Bank of Scotland is easier. When you apply to upgrade, it depends as some basic accounts are non-upgradeable so it's best to try for a new account.

Ah, thanks for clearing that up for me!
Got two "current accounts"; one with Natwest and one with Lloyds. Natwest offer litter for £8 a month, Lloyds have more appealing options to me at varying prices so will try and "upgrade" later and let you know what happens.
Cheers!

[SA Gold]

Re: Current account plus with defaults

p.s. read this ---> Credit Reference Agencies - allaboutFORUMS

Explains the search processes etc for you

Perfect, will read now. Cheers Nid!
P.S When will you be on Daybreak instead of ML?

[Never-In-Doubt]

Re: Current account plus with defaults

What type of Lloyds account have you got? So long as its a full account (not basic) just log-in then from within your account you click the green upgrade button at the right side (then click compare). At this point it'll tell you if approved as if it says "we can't offer this account" there may be a cpd99 marker. If there are options and it lists all accounts available then you're free to click and upgrade there and then.

A second account is quickest. Just login then click current accounts from down the right side. It'll then let you open a second account instantly with no credit search (it's based off monthly feed. Updated around 19th of month)..

Make sense? Stick with Lloyds mate. They're better than natpest.

[SA Gold]

Re: Current account plus with defaults

What type of Lloyds account have you got? So long as its a full account (not basic) just log-in then from within your account you click the green upgrade button at the right side (then click compare). At this point it'll tell you if approved as if it says "we can't offer this account" there may be a cpd99 marker. If there are options and it lists all accounts available then you're free to click and upgrade there and then.

A second account is quickest. Just login then click current accounts from down the right side. It'll then let you open a second account instantly with no credit search (it's based off monthly feed. Updated around 19th of month)..

Make sense? Stick with Lloyds mate. They're better than natpest.

I haven't got the details to log in from work, but yes, i'm sure its a "full" current account. I have a debit card, cheque book, overdraft etc.
I'll try later and let you know, cheers!

[Never-In-Doubt]

Re: Current account plus with defaults

Wanna know more about how their internal scoring works

After 6 months as a newbie I had 3 full accounts plus £1500 OD on each

[SA Gold]

Re: Current account plus with defaults

Wanna know more about how their internal scoring works

After 6 months as a newbie I had 3 full accounts plus £1500 OD on each

That's why you da master!
Want to know something else? Just upgraded Lloyds account at the click of a button. Obviously no credit check there then.

Thanks Lloyds, AA cover and World travel insurance cheaper than i can buy it outright and on the monthly. Nice one!

[Never-In-Doubt]

Re: Current account plus with defaults

Yep so no cpd99 either. Try the overdraft lol. It does not credit search you. I piss about with mine all the time

I usually go up a couple hundred then straight after go up more... I went (newest account); £100 -> £500->£1250->£1500 all after each other, ie 4 immediate apps. The 5th (for £2k was declined mind you)!

[SA Gold]

Re: Current account plus with defaults

Yep so no cpd99 either. Try the overdraft lol. It does not credit search you. I piss about with mine all the time

I usually go up a couple hundred then straight after go up more... I went (newest account); £100 -> £500->£1250->£1500 all after each other, ie 4 immediate apps. The 5th (for £2k was declined mind you)!

Is cpd99 the banks internal credit scoring? Just searched the forum and google'd it and its bringing up all type of random stuff.
They gave me a £250 OD when i opened the account which is still there, so may have a play around with that.
If they don't credit search you, i guess they make a decision based on how regularly you pay in, how much, how much you use it etc?

[Never-In-Doubt]

Re: Current account plus with defaults

Is cpd99 the banks internal credit scoring? Just searched the forum and google'd it and its bringing up all type of random stuff.
They gave me a £250 OD when i opened the account which is still there, so may have a play around with that.
If they don't credit search you, i guess they make a decision based on how regularly you pay in, how much, how much you use it etc?

CPD99 is Credit Policy Decline and basically comes and goes each month dependant on what data feed the CRA's provide around the 19th.... basically, you could have an approved guaranteed overdraft of £5k, or a card/loan whatever (via internal scoring) but the CPD99 overrides their internal scoring.

Its the worse marker to have within HBOS/LTSB as nothing can remove it other than a new data feed from the CRA's....

However, as you have an OD and upgraded your account, I would play around with it - try for £500 then £1000 if successful on the £500 app. You will not get credit scored, not if you do it online.... like this (same system although mine is HBOS system but they look and do the same)...

* I am maxed out as I have 3 accounts with £4500 OD's between them..... however not bothered about applying, it does no harm as the below will show you!

Step 1


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Step 5

[SA Gold]

Re: Current account plus with defaults

Excellent, thanks for clearing that up. So, i am fortunate that Lloyds didn't bother in my case. Onwards and upwards!