declined for current account

[shamen]

I applied for a co-op current account last night. I filled in all of the details accurately and ensured they all matched whats on my credit report. My credit report has 16 months of current account with natwest (no black marks, overdraft never used), over a years worth of history with two phone companies (all paid on time) and over a years worth of history on three credit cards (also all marked as paid on time, less than 50% of available credit in use). Only one credit search in the last 6 months on my report. No linked financial associates. I put down my correct salary in the application and thought that would be all good.

Got a declined email this morning from co-op bank.

We have made our decision using a technique known as credit scoring. Our credit score takes into account the information provided by you during your application and information provided by one or more credit reference agencies. This may include information relating to you, or one or more of your financial associates, such as someone you have an account with, or may have made an application for credit with. In this instance, the information we considered was registered with Experian.....

Of course, you may not agree with our decision. If so, you may wish to supply extra information so that we can reassess your application. This could include details of any accounts you have with other banks, for example, 3 months' recent copy statements, details of any savings and investments you may have, and information explaining the entries on your credit report.

double checked with my experian report - nothing bad on there at all. I cant believe a simple current account would be declined based on nothing except having only 16 months of credit history, is this normal?

[leclerc]

Re: declined for current account

What type of account were you applying for?
You might want to supply them with additional information so that they would overturn the decision. Take in the copy of the experian file for them as well.

[shamen]

Re: declined for current account

Current account plus, the no monthly fee one. Basicly exactly the same as what I have with natwest, except with a more ethical bank. Ill write to them and appeal it

[Caspar]

Re: declined for current account

Failing that there's the cashminder from co-op, just a basic current a/c, no overdraft, but you do get a debit card and is fine as long as you don't want an overdraft.

[The Debt Star]

Re: declined for current account

also, have you checked your equifax report as well? they can differ massively.

[Guest]

Re: declined for current account

I applied for a co-op current account last night. I filled in all of the details accurately and ensured they all matched whats on my credit report. My credit report has 16 months of current account with natwest (no black marks, overdraft never used), over a years worth of history with two phone companies (all paid on time) and over a years worth of history on three credit cards (also all marked as paid on time, less than 50% of available credit in use). Only one credit search in the last 6 months on my report. No linked financial associates. I put down my correct salary in the application and thought that would be all good.

Got a declined email this morning from co-op bank.

double checked with my experian report - nothing bad on there at all. I cant believe a simple current account would be declined based on nothing except having only 16 months of credit history, is this normal?

Dont feel bad i had a simp0le cashminder account with them for 16 years, worked for the credit union next door for five as treasurer and went to the pub with the manager on occaision. NO CCJs no defaults, got turned down same letter as you. Tried everything to get an explaination SAR their records , nothing, complained to the FOS, nothing. Transfered to the Nationwide bloody ethical b***cks.

Peter

[Brian]

Re: declined for current account

shamen, youve always got one last card to play to them, write to them and tell them that you wont ever be doing ANY business with them again, and youre x amount of family members wont be either based on this, so thats a good few they've lost out of it all. Maybe sourgrapes but it sure makes you feel a bit better out of it..

[Gorang]

Re: declined for current account

Shamen

I would get copies of all 3 CRA reports, Equifax (as debt Star says), Experian (which you have already) and also Call Credit

There was a while (few yrs back) that a lot of them switched CRA's went to Call Credit for a CRA, but I'm not sure if co-op did or not

But they will/should (I beleive) only use one so if you have a full house it should strenthen your case when appealing

[Banksters]

Re: declined for current account

It's an old post but hey, was he on the voters role with his local council If not then foget applying to some banks.