Cycle to work scheme - for against?

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Ok don't worry. Obv your score isn't high enough yet. Keep paying on time for 6 months then reapply and you'll be fine. As for applying with your bank; I'd look to wait a bit as your score might not quite be enough. Best way to test, try and add £50 to your overdraft. If it works you might get accepted for a card.

Hbos work similar to that. You have an overall approved products list which might say. £x for overdraft and that's it. Or it might say £x for overdraft & £x for credit card / loan. That's based highly on internal score with an external search as back up. If hbos is your bank; try and increase overdraft by a small amount. If it works you might get a card. If it declined then don't apply for a card (an OD application is based 100% on internal scoring - no credit search will be done)...!

[SA Gold]

Re: Cycle to work scheme - for against?

Ok don't worry. Obv your score isn't high enough yet. Keep paying on time for 6 months then reapply and you'll be fine. As for applying with your bank; I'd look to wait a bit as your score might not quite be enough. Best way to test, try and add £50 to your overdraft. If it works you might get accepted for a card.

Will do mate, thanks. Not my evening

Hbos work similar to that. You have an overall approved products list which might say. £x for overdraft and that's it. Or it might say £x for overdraft & £x for credit card / loan. That's based highly on internal score with an external search as back up. If hbos is your bank; try and increase overdraft by a small amount. If it works you might get a card. If it declined then don't apply for a card (an OD application is based 100% on internal scoring - no credit search will be done)...!

Just had a look on RBS and Halifax sites - they offer everything Lloyds do (and i make use of like AA, worldwide travel, mobile cover etc for less) so not sure whether it would be worth transferring to them in the new year if their lending criteria is a little more relaxed, or just sit tight with Lloyds and wait for the magical 3 years of adverse? Halifax are crediting accounts with £100 when using the transfer tool. This is of course assuming they would have me

Thanks
SA

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Lloyds is HBOS mate. The systems are identical. Both owned by Lloyds Banking Group.

Notice what it says in the decision - it says they use info available to them, risk & CRA records (monthly feeds).

Its purely an internal decision. Just wait a while mate. So do you have an overdraft with them at present, anything? To establish if you're CPD99 (credit policy decline) just login and click upgrade account. The next page will show a list of available current accounts. It will have a check box at the right that allows you to compare.

If for any reason the upgrade page reads "sorry this product is not available blah blah blah" or the tick boxes to compare are blocked out with a similar message then you're stuck. If it allows you to tick two accounts and click compare then just cancel out - nothing's been done - you're not credit blocked and should try and increase your OD on or around the 3rd Monday of each month - I suggest the 23rd whatever day that is so long as it's after the 3rd Monday - as that's feed day! So as there's no footprint, always try and increase your OD monthly, by £50 to see if it approves. If so call the bank and ask if you have any pre approved products or limits as you're thinking of applying for one of their credit cards. They'll either say "I'll transfer you" or "I'd wait a bit" - the latter suggesting no can do.

Remember you can SAR the bank. They then send you stuff that I'll be able to answer for you, ie lending policy/your risk/internal score etc

[SA Gold]

Re: Cycle to work scheme - for against?

Morning,

It appears i have been balled by CPD99 (below)

Interestingly, a few months back (maybe 6-8 weeks ago) a work colleague was on about ditching Lloyds for Halifax (same services for £10 if in credit all the time and £100 credit when using the transfer utility) and we both logged in to our accounts. He was cursing them for not being able to downgrade the account from a paid, featured one to a normal one without phoning them and the usual hard sell you expect when ringing a call centre. I noticed i was able to compare my current account with the next one up being (i think) £25 a month. So, i guess at this time i wasn't CPD99. However, and this is where the plot appears to thicken: it was also around this time i tried the £50 overdraft increase and was asked to call them. The operator said (i think i may have posted on someone else's thread about this) that all it said was data from their CRA was preventing the overdraft and to contact them (i think it was Experian).

So, i guess the two forces (CRA feed and Internal) are working against me! I can only assume that the last few months i have been dipping in to my OD (which is £250 by the way) and now and again going over that (although usually pay something in the same day to bring it within the limit has caused this marker.

I think its a good thing (as handy as they are) keeping a relatively small overdraft; although i haven't done a Deloitte analysis of my finances i do believe it was the overdraft which kept getting bigger and bigger which eventually snookered me back in 2010. However, i do want to make use of the good old game of bouncing around the 0% interest cards and i may need a loan in the not to distance future as i am running an old car and doing 75 mile a day trips. So, if the offer was on for a Credit analysis mate, perhaps i could send you an XLS over (cancelled paper statements ages ago).

Many thanks
SA

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Mate you're already on the top account (platinum) so how you propose to upgrade that, ergo I suspect that might be why you're seeing the message you see. It could be a CPD99 - but not 100% certain as yet (see below to test).....

If they had another account after that, then it'd be easier to gauge but from what you just showed me that suggests they cannot upgrade as you're at the top account already..

The other way to test, login and then click the banking link - pretend to apply for a second current account by clicking current accounts then apply. Like before you ought to see the above screen with all available accounts - are they blanked out or are they available to tick/apply?

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Obviously don't apply - just test it and back out before clicking proceed with application screen

[SA Gold]

Re: Cycle to work scheme - for against?

Mate you're already on the top account (platinum) so how you propose to upgrade that, ergo I suspect that might be why you're seeing the message you see. It could be a CPD99 - but not 100% certain as yet (see below to test).....

Ah, my bad mate. I didn't realise they had ditched the one-up from the Platinum. There was one above this which was £25 a month although i cannot see any sign of this on the website now.

If they had another account after that, then it'd be easier to gauge but from what you just showed me that suggests they cannot upgrade as you're at the top account already..
The other way to test, login and then click the banking link - pretend to apply for a second current account by clicking current accounts then apply. Like before you ought to see the above screen with all available accounts - are they blanked out or are they available to tick/apply?

They must have changed their system/process mate. Logged in, selected current accounts, open another account, asked my occupation and employers address, clicked next and then got this!



Edit:

This being the only part of the form. I know the button said submit which suggest that is all they wanted. I am a wally!
Ah well, i guess we will soon see if they will give me another account with a debit card

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Lol mate - hahahaha. That should appear on internet banking within the next two days so keep looking and if you notice the new account you will not have CPD99 - the bank account is 75% internal score and 25% monthly feed. I currently have 4 full accounts with HBOS and run them all at basic balances, ie twenty in one, fifty in another, nowt in another and a couple of quid in the last - however I have £1300 OD's on 3 of them and £750 on other so it's not all bad

see what happens, online banking will tell you before any letter - usually. But the process is the same, sadly at the point above whee you can apply, you should not have clicked submit


This WILL leave a footprint as well, but don't worry. You need to establish what the situation is with LTSB before applying elsewhere or even through them, for a card, so no harm done.

[SA Gold]

Re: Cycle to work scheme - for against?

thanks mate, i thought i was in for a bollocking then!

Sounds like a nice arrangement with HBOS

Will keep you posted on the outcome.

Thanks for all your help

[SA Gold]

Re: Cycle to work scheme - for against?

Just noticed the account has populated, although the option to upgrade isn't there because i am already getting the benefits from the original one
I guess the CPD99 test will be if a debit card turns up for it, or should i get a bit of money moving in and out of it and try a £50 overdraft?

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Usually you need to load £100 into the account overnight so it triggers the release of the card so if you have a spare £100 for a day best move it over

Well done - told you it was easy to get a second account as it's heavily weighted on internal score but they do check the last feed as well (hence the 1 day delay from applying to showing online).... Anyway you'll get a letter detailing the card and any overdraft available so sit tight for now, usually you'll get the full debit card - no reason why they wouldn't issue one presuming your current card is a full debit card.

did you ever even need a second account?? Seems when we get going we apply left right and centre

Sit tight for now

[SA Gold]

Re: Cycle to work scheme - for against?

Usually you need to load £100 into the account overnight so it triggers the release of the card so if you have a spare £100 for a day best move it over

Done mate. How do you know all this stuff

Well done - told you it was easy to get a second account as it's heavily weighted on internal score but they do check the last feed as well (hence the 1 day delay from applying to showing online).... Anyway you'll get a letter detailing the card and any overdraft available so sit tight for now, usually you'll get the full debit card - no reason why they wouldn't issue one presuming your current card is a full debit card.

Thanks! Yeah full debit card on the one i have at the moment, cheque book etc.

did you ever even need a second account?? Seems when we get going we apply left right and centre
Sit tight for now

Not really, although i am sure i can find a use for it. And if its helped us test the water then its served its purpose

[SA Gold]

Re: Cycle to work scheme - for against?

Usually you need to load £100 into the account overnight so it triggers the release of the card

Full debit card received

Anyway you'll get a letter detailing the card and any overdraft available so sit tight for now

£50 overdraft on this account

Standing by for further credit building advice

[Never-In-Doubt]

Re: Cycle to work scheme - for against?

Nice matey. That's a job well done

just sit tight. No CPD99 so you're good there. We'll reconvene in new year yea? Lol

I know lots of weird & wonderful things mate. As you can see, some are a bad influence

[SA Gold]

Re: Cycle to work scheme - for against?

Nice matey. That's a job well done

just sit tight. No CPD99 so you're good there. We'll reconvene in new year yea? Lol

Excellent. So just waiting for the three years of adverse to drop off the CRA's

I know lots of weird & wonderful things mate. As you can see, some are a bad influence

I wouldn't put it like that mate

Look forward to the new year :-)