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I got declined by santander? Watch

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    I don't get it. I went to open a current account with S and they declined me.

    I had 2 bank accounts before I went to open this one (HSBC and Halifax)

    Me and my accounts:

    My HSBC account has 1,000+ in it. Halifax has my savings 3,500+ in it.

    I'm 18, A student, never used my overdrafts, didn't have a student loan/grant. Haven't had any other personal loans.

    Apparently they done a credit rating on me and I failed their specs. I even offered deposit 1k into the account straight after opening it.

    So, does anybody have any idea why I was declined and why I have a bad Credit report?
    Do relatives' C.R affect mine because I have the same last name? Would this affect my opening an account?

    Edit: Just remembered, Would this affect me trying to get a loan in the future?
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    (Original post by amime)
    I don't get it. I went to open a current account with S and they declined me.

    I had 2 bank accounts before I went to open this one (HSBC and Halifax)

    Me and my accounts.

    My HSBC account has 1,000+ in it. Halifax has my savings 3,500+ in it.

    I'm 18, A student, never used my overdrafts, didn't have a student loan/grant.

    Apparently they done a credit rating on me and I failed their specs. I even offered deposit 1k into the account straight after opening it.

    So, does anybody have any idea why I was declined and why I have a bad Credit report?
    Do relatives' C.R affect mine because I have the same last name? Would this affect my opening an account?
    Edit: Just remembered, Would this affect me trying to get a loan in the future?
    Yeah it would. Credit rating is important nowadays. You may have a bad credit rating because, you didnt pay bills on time, late etc.
    You can check your credit rating online with experian
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    (Original post by kas12)
    Yeah it would. Credit rating is important nowadays. You may have a bad credit rating because, you didnt pay bills on time, late etc.
    You can check your credit rating online with experian
    hmm. I haven't had any bills. My mum took care of the bills until I left for uni. But even then I paid for my accommodation (which includes water,gas, electricity, internet etc) upfront for the whole year.

    But I'll give Experian a go and see what it says.
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    Hmmm, that's odd. Maybe its because you don't have a credit rating, I heard once that a bad credit rating can be better than no credit rating but I'm not sure how true that is.
    For example I have student loans, personal loans, credit card, been in an overdraft before (for about £10) and have many bank accounts (about 4) and was told that I have a good credit rating (I pay everything on time) and Santander opened an account for me.
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    i got declined by them too, my experien report shows nothing bad at all. and i do have a credit rating - i'm 24 and have had bills and things in my name for years, had a £2000 overdraft which i cleared well within the agreed period. no idea what their issue is.
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    You said you have an overdraft - it's possible you have too much available credit for Santander.
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    (Original post by kas12)
    Yeah it would. Credit rating is important nowadays. You may have a bad credit rating because, you didnt pay bills on time, late etc.
    You can check your credit rating online with experian
    No, relatives having the same last name definately does not affect your credit rating in the slightest. The only way that could possibly happen is if you are financially linked - i.e. having a joint bank account.

    Having a bad credit rating is worse than having no credit rating. A bad credit rating shows you can't handle credit, a non-existent one doesn't show anything - which do you think is better? And student loans don't affect your credit rating.

    I was also declined by Santander - I'm assuming they only want "good" customers, and because you have lots of accounts elsewhere (as I do), they have guessed that you won't be using it as your main account so don't want you (promising to pay in £1k etc. does nothing as a) you can just take it out again and b) they won't have any systems in place to accept non-standard promises like that). Also, as JacksterD said, it could be that you have too much available credit.
 
 
 
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