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Halifax declined my student account application. watch

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    Banks tends to treat me like marmite; they either love me or hate me.

    My main bank account for the last seven years has been with Nationwide; however, they refuse to offer me anything other than a cashpoint card (I've applied on numerous occasions for an upgrade to the debit card, but each time was declined; also, they will not let me have a credit card).

    On the other hand, some banks are much nicer to me; one sent me credit card with a 1k limit, and another one gave me a 7k loan; both of these I'm managing to pay off okay, and I've not missed any payments (the loan is now down to 3k).

    Today, I went into Halifax, to apply for the student account, however, I was declined and I do not understand why.

    Has anyone else been declined? and if so, were you eventually able to open up a Halifax account? (they said I had to wait six-months).

    I've just signed-up for the 30-day trial with Experian's CreditExpert website, and everything seems to be okay with my credit file - all my accounts are listed as 'satisfactory'.
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    here's the deal with halifax - because of their higher typical and maximum overdraft facility, they aren't as willing to hand accounts out. because you're a young girl without much credit history, they dont want to risk it. stupid policy for student accounts, because almost everyone is in the same boat..

    you can appeal your denial, and offer to send in statements from the past 6 months of your previous accounts with other banks in order to prove you are responsible and haven't boshed your dosh into unauthorised overdraft.

    make sure you call them first to ensure that this is the reason that they denied, and that you arent a freak case :P
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    You can open an account with another bank and then try to re-apply to Halifax in a few months time if the appeal does not work out. Alternatively, apply for a credit card. You can then spend on it, but make sure you pay it off in full at the end of each month. This will help to boost your credit rating.
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    Thank you for your replies Palmski and student070289.

    I was hoping to transfer both my credit card balances over to the Halifax account, however, due to being declined, I resorted to contacting the credit card provider who I also have a loan with, in order to find out if they could close my credit card by transferring the balance onto my loan (my loan is -£3,500, and my credit card is -£500).

    My loan APR is currently 7.9%, however, the bank informed me that I would need to create a new loan agreement if I top-up the loan with the credit card balance; however, the new agreement APR would be 24.9%.
    I cannot afford this APR, but I also feel that I will struggle with my current repayments once I start university; so I was hoping that by combining the balances, it would have only added around four more months to my agreement, however, under the APR they offered, it would add four years!
    My Experian file shows all my accounts as satisfactory, as I have never missed any payments.

    I'm not sure what to do now.
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    (Original post by MissOki)
    Thank you for your replies Palmski and student070289.

    I was hoping to transfer both my credit card balances over to the Halifax account, however, due to being declined, I resorted to contacting the credit card provider who I also have a loan with, in order to find out if they could close my credit card by transferring the balance onto my loan (my loan is -£3,500, and my credit card is -£500).

    My loan APR is currently 7.9%, however, the bank informed me that I would need to create a new loan agreement if I top-up the loan with the credit card balance; however, the new agreement APR would be 24.9%.
    I cannot afford this APR, but I also feel that I will struggle with my current repayments once I start university; so I was hoping that by combining the balances, it would have only added around four more months to my agreement, however, under the APR they offered, it would add four years!
    My Experian file shows all my accounts as satisfactory, as I have never missed any payments.

    I'm not sure what to do now.
    You should keep trying with Halifax and access your other credit files. If you can't get one with Halifax try another bank, then at least you can 'pay off' your credit card(s).
 
 
 
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