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    (Original post by addict)
    Dont apply to lots of banks over a short period of time, it doesnt help your credit rating(if your getting rejected).
    To get rejected from a student account (near the bottom on the pile as far as bank accounts go), you must have absolutely no credit rating, or just in the red.
    If you have never had a job, the former will be very likely.
    There is a trick to get around this if you have a saving account of some sort, but im not sure if I can tell people on a public thread.

    Its a waste of time asking the bank why they rejected you. Just visit this website:
    www.Experian.co.uk
    and use their free trial to find out what was wrong.

    oooh pm me and tell me? please
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    (Original post by Latayah)
    oooh pm me and tell me? please

    i think i know the problem, i am not on the system, i tried to get a credit report from that website and they said they were unable to allocate my details i.e. i have not got any details.

    So i think that they do not know i exist how do i make myself known to them!?
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    PS Reviewer
    You need to be on the Electoral Roll.
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    (Original post by Juno)
    You need to be on the Electoral Roll.

    hmm i thought that might have been the problem any ideas on how to get on it asap!?
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    I've got a "student" one with HSBC(the one that is for people aged 16-18 or something) and I'm going to keep that one and have my wages paid into there when I get a job at uni....so that will be "free" money I can spend as I require.

    I'll have my Natwest student one for my loan and I'll have all my direct debits coming out of there I think...eg.tuition fees,accommodation,phone bill etc.
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    check www.192.com to see if you are on the electoral role.
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    Have you checked equafax and experian(sp) for a credit history report. It could be somthing as simple as the people who used to live at your house not paying a loan so your address would be flagged. Some post codes also automaticaly produce a bad credit history.

    I had bad history becuase of my parents but I wrote to them explaining it had nothing to do with me so I have positive credit history now.
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    If you go to http://www.birmingham.gov.uk/Generat...0&MENU_ID=1735 there is a form on there you can print off and fill in, then send to the council. It's better if you can to scan the completed form and email it, because they lost mine when I mailed it in.

    The banks won't tell you exactly why you've been rejected, only that your score wasn't high enough. Each bank has a different method of scoring so you might pass with another one but as someone else said it's not great to keep applying to one bank after another because each time the banks do a credit score on you it appears on your credit file (which is what other banks use to rate you!). The entry on your file won't say whether your application was accepted or declined (in case you're worried about it ruining your file!) but lots of entries mean you're applying for a lot of stuff which I guess would look suspicious (and imply you couldn't get any credit!).

    You could feed money from a savings account into another bank account (assuming you have one already and are just looking for a student one now) to make it look like you're earning money....but banks aren't totally stupid and will suss it pretty quickly.

    I'd wait a while if you can afford to then apply again!
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    They're v. busy at the mo, but if it takes much longer get on the phone. x
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    You can improve your credit scoring by using your accounts more reguarly eg Spending more, having your salary transferred there, depositing reguarly, using it in shops.

    If you dont really use your account then your risk band stays low (score out of 10) and they usually reject you for anything
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    (Original post by TKR)
    argh so many questions to ask natwest about opening my account and i guess they're going to need pictures for my railcard meh i think im just gonna have to go in ill never get it done online... this is a problem as i work 6 days a week! :eek:

    one question obv i arranged for student loan to be paid into my current account so will i need to ring up the slc or write to them to give them my details and also will natwest automatically transfer my direct debits when i start the account?
    Well i dont think the account number changes if you upgrade it to one with an Overdraft, but if your getting a new account and the SLC dont have them details, you need to tell them. When they send u a final confirmation letter with account details, it should contain a letter which gives u the option of changing the account it gets paid into.
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    (Original post by Alexdel)
    Same here...I don't quite understand how I can have a bad credit scoring or whatever it's called when I have never taken any loans, or late payments or overdrafts etc....I only had one normal account which I couldnt even borrow 5p from...this is ridiculous..

    Maybe that's why, because you don't have much of a credit history.
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    HSBC also rejected me but I already have an account with them. The strange thing is they already sent me the free railcard (a free gift with the Student Account last year) and last week sent me the free MP3 player.

    I went into the bank to ask why I had a low credit rating. I know my parents have a poor credit rating, but they said no other parties are taking into account when calculating your credit score. The lady I spoke to said my details were wrong on the computer and I was down as a 'Student' already, so this could've affected my credit rating. She changed my details to 'Part-Time Work' and said this could affect my rating.

    I need to go back on the 7th September to see if it's changed.
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    (Original post by sparklyglitter)
    I've got a "student" one with HSBC(the one that is for people aged 16-18 or something) and I'm going to keep that one and have my wages paid into there when I get a job at uni....so that will be "free" money I can spend as I require.

    I'll have my Natwest student one for my loan and I'll have all my direct debits coming out of there I think...eg.tuition fees,accommodation,phone bill etc.
    that is why i want a second one...want too keep a different account; one which has dispendable income, and the other for rent, food etc....oh well...looks like i'll have to think harder now...hate thinking :rolleyes:
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    (Original post by Phil23)
    that is why i want a second one...want too keep a different account; one which has dispendable income, and the other for rent, food etc....oh well...looks like i'll have to think harder now...hate thinking :rolleyes:
    You could always get a savings account and just transfer money as and when needed into your current account...
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    Not sure on mine - not been rejected or approved yet...

    My salary is only around £600 monthly, but it looks like £800-£1000 is going in/out of my account each month, cos i transfer money between my current and savings accounts a lot (as needed basically)

    So i'm hoping i'll be accepted
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    it seems somewhat of a catch 22; not being allowed to open a bank account, but at the same time this means that you can't actually build up any credit or financial history.

    my student account went to a pending status for 24 hours before being opened (the second time round, because it was refused a few months back), but was finally accepted today. they said the initial period of pending was to check that you weren't opening up many accounts (because then, in theory, you could have tens of thousands of pounds overdraft facilities).

    if it's a credit scoring issue though, that is slightly weird. is it a credit card account? the one i'm applying for (halifax) can have a credit card as an option (which they also need to approve separately), but otherwise it's just a basic account with a debit card. a main condition for the student accounts is also that you pay the student loan into them, so although it might seem obvious, make sure they know you're doing so.
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    To have an overdraft you have to be scored as worthy of one. Because you could just take the overdraft and run! And with a debit card you can go over your overdraft limit (unless it's a Solo), so you need a good credit score.
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    (Original post by Alexdel)
    Same here...I don't quite understand how I can have a bad credit scoring or whatever it's called when I have never taken any loans, or late payments or overdrafts etc....I only had one normal account which I couldnt even borrow 5p from...this is ridiculous..
    Credit score can be tagged to your address - if your parents or previous occupants have a low credit score then you're fecked!

    You can apply to see the debts/bad credit associated with your address though...
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    It's probably that your address is black flagged. My mum has loads of CCJs so initially our address was black flagged. Because you have no credit history they use your address to score you. You need to go to Equifax and inform them that you live at that address (with proof of address) and get them to start a blank credit record for you. The process takes four weeks. They will then send you a new credit record which you must take to your bank when you go to open your student account. It's what I had to do last year.

    Carl
 
 
 

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