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Post by moonraker on Sept 19, 2016 9:17:53 GMT
Interesting comments, especially ilmoro's. Thanks.
My Noodle rating is 681, 5/5, and I have most of the factors ilmoro recommends, though I've never sought credit except by occasionally using my credit card (average spend £80 a month).
Most financial organisations can verify my ID electronically (I won't repeat my recent rant about it taking Tesco Bank three weeks to process paper ID and open an account.)
Where there are problems, I sometimes wonder if having a hyphenated surname confuses some people. I've had to ask State Bank of India several times to include it, and I have two separate accounts with Capita, one with and one without the hyphen. I did query the omission once, but was told I needed to send ID proving I had a hyphen ...
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Post by martin44 on Sept 19, 2016 16:15:19 GMT
I wonder... whenever i have any kind of insurance up for renewal, i use various comparison sights, generally 3 , just checked mine @ noddle , score 630, however, when i check "search history" there is a list of approx 100 insurance companies listed there, many duplicate, over a period of approx 2 years.
Is this the result of search comparison insurance companies checking me out before i have even selected them to provide insurance, and will those searches be effecting my credit score?
Any insight appreciated.
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Post by yorkshireman on Sept 19, 2016 17:05:18 GMT
I wonder... whenever i have any kind of insurance up for renewal, i use various comparison sights, generally 3 , just checked mine @ noddle , score 630, however, when i check "search history" there is a list of approx 100 insurance companies listed there, many duplicate, over a period of approx 2 years. Is this the result of search comparison insurance companies checking me out before i have even selected them to provide insurance, and will those searches be effecting my credit score? Any insight appreciated. When I asked Experian about this, I was told that insurance company searches do not affect your credit score. However, as someone has already said, applications for current accounts do have an impact, again confirmed by Experian, as they are potentially capable of offering a credit facility, I can speak from personal experience in 2013/14 when I opened a number of interest bearing credit accounts in quick succession resulting in my credit score plummeting although this has since returned to it’s original figure as a result of no applications for anything related to credit.
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Post by martin44 on Sept 19, 2016 18:57:32 GMT
I wonder... whenever i have any kind of insurance up for renewal, i use various comparison sights, generally 3 , just checked mine @ noddle , score 630, however, when i check "search history" there is a list of approx 100 insurance companies listed there, many duplicate, over a period of approx 2 years. Is this the result of search comparison insurance companies checking me out before i have even selected them to provide insurance, and will those searches be effecting my credit score? Any insight appreciated. When I asked Experian about this, I was told that insurance company searches do not affect your credit score. However, as someone has already said, applications for current accounts do have an impact, again confirmed by Experian, as they are potentially capable of offering a credit facility, I can speak from personal experience in 2013/14 when I opened a number of interest bearing credit accounts in quick succession resulting in my credit score plummeting although this has since returned to it’s original figure as a result of no applications for anything related to credit. Thanks for your reply and appreciated, i feel much better.  edit.. Actually, the more you look into this, the more intriguing it appears. If you have more than adequate funds and need to park them somewhere with decent interest rates, then you search for the best paying interest paying accounts, the more accounts you open, leaves more traces on your credit report, these traces are then interpreted not as you intended, ie somewhere to park excess funds, but as someone who is looking for a loan/credit/overdraft facility, and therefor rates you as higher risk. Am i being cynical in thinking that the banks do not actually want to lend to me @ 3.9%, but would prefer a slightly more risky borrower @ 6.9%
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Post by moonraker on Sept 20, 2016 7:00:54 GMT
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billt
Posts: 105 
Likes: 79
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Post by billt on Jul 11, 2023 9:42:21 GMT
Forgive me for a little morning rant,
As a person of a certain age I needed hearing aids, went to Boots and was in the process of purchasing a pair, realised that I could have them on interest free payments, the credit check turned me down but tried under my wife's name and was successful.
Also I have been knocked back when trying to open savings accounts with amongst others , Raisin, Santander and Nationwide.
I have been successful opening accounts with Chip, Chase and P2p accounts,
I am not concerned about obtaining credit but it annoys me to find that I have difficulty in opening savings accounts,
Surely there must be a way of compiling a register of Bona Fide applicants that have been checked for tax, national insurance payments, fraud etc.
I can partly understand why there may be a problem; payed off my mortgage twenty five years ago, never had any credit or credit card, moved house numerous times, lived in France for 14 years,
On the plus side Served on nuclear submarines (Positively vetted), worked for probation service, bank account with Barclays for fifty years, started and ran a UK company for fifteen years employing 25 people. but still can't open a savings account. somewhere along the line I must have a black mark.
Any suggestions
Rant over
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Jul 11, 2023 9:53:43 GMT
Forgive me for a little morning rant, As a person of a certain age I needed hearing aids, went to Boots and was in the process of purchasing a pair, realised that I could have them on interest free payments, the credit check turned me down but tried under my wife's name and was successful. Also I have been knocked back when trying to open savings accounts with amongst others , Raisin, Santander and Nationwide. I have been successful opening accounts with Chip, Chase and P2p accounts, I am not concerned about obtaining credit but it annoys me to find that I have difficulty in opening savings accounts, Surely there must be a way of compiling a register of Bona Fide applicants that have been checked for tax, national insurance payments, fraud etc. I can partly understand why there may be a problem; payed off my mortgage twenty five years ago, never had any credit or credit card, moved house numerous times, lived in France for 14 years, On the plus side Served on nuclear submarines (Positively vetted), worked for probation service, bank account with Barclays for fifty years, started and ran a UK company for fifteen years employing 25 people. but still can't open a savings account. somewhere along the line I must have a black mark. Any suggestions Rant over Sign up to the various credit reference providers ... can be done free ... and check your credit score & records. www.moneysavingexpert.com/loans/check-free-credit-report/I assume you are not Nigel Farage, Jeremy Hunt, Kenneth Clarke or any other PEP who have had issue with banks etc being picky
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toffeeboy
Member of DD Central
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Post by toffeeboy on Jul 11, 2023 10:18:33 GMT
Forgive me for a little morning rant, As a person of a certain age I needed hearing aids, went to Boots and was in the process of purchasing a pair, realised that I could have them on interest free payments, the credit check turned me down but tried under my wife's name and was successful. Also I have been knocked back when trying to open savings accounts with amongst others , Raisin, Santander and Nationwide. I have been successful opening accounts with Chip, Chase and P2p accounts, I am not concerned about obtaining credit but it annoys me to find that I have difficulty in opening savings accounts, Surely there must be a way of compiling a register of Bona Fide applicants that have been checked for tax, national insurance payments, fraud etc. I can partly understand why there may be a problem; payed off my mortgage twenty five years ago, never had any credit or credit card, moved house numerous times, lived in France for 14 years, On the plus side Served on nuclear submarines (Positively vetted), worked for probation service, bank account with Barclays for fifty years, started and ran a UK company for fifteen years employing 25 people. but still can't open a savings account. somewhere along the line I must have a black mark. Any suggestions Rant over Get a credit card, use it each month and pay it off. You have to be getting credit and prove you are paying it off to improve a credit score not just have no credit Not sure if credit ratings fall because you have no credit after they have been built up As mentioned elsewhere check your credit for free with Noddle, now called Credit karma and see if there are any anomales affecting your rating
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benaj
Member of DD Central
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Post by benaj on Jul 11, 2023 10:36:57 GMT
but still can't open a savings account. somewhere along the line I must have a black mark. Any suggestions Rant over Don’t assume you have a black mark. Most saving account applications use soft search and does not impact credit score / rating. It’s worth checking if someone has been used for id frauds.
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billt
Posts: 105
Likes: 79
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Post by billt on Jul 11, 2023 12:11:48 GMT
Not sure if I am misunderstanding, I am not concerned about obtaining credit, I just want to open saving accounts.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,545
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Post by ilmoro on Jul 11, 2023 12:20:57 GMT
Not sure if I am misunderstanding, I am not concerned about obtaining credit, I just want to open saving accounts. I assume you are trying to open savings accounts with banks/fincos where you dont have an existing relationship. They will have to carry out KYC/AML checks to open any account and this usually involves electronic checks on your credit file. Are they giving you a reason for not providing an account?
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billt
Posts: 105
Likes: 79
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Post by billt on Jul 11, 2023 12:29:07 GMT
No reason given
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Post by bracknellboy on Jul 11, 2023 12:38:36 GMT
Not sure if I am misunderstanding, I am not concerned about obtaining credit, I just want to open saving accounts. I assume you are trying to open savings accounts with banks/fincos where you dont have an existing relationship. They will have to carry out KYC/AML checks to open any account and this usually involves electronic checks on your credit file. Are they giving you a reason for not providing an account? I gave up trying to open up a savings account for my father. I think I tried 3, and they all demanded certified copies of proof of ID and address. He has investments and PBs and a current account. And credit card (little used for a long time, but always a current one issued). All online as well. He's lived at the same address for half a century. I've no idea why there were unable to carry out electronic checks on him. Unless they didn't trust that someone of his age would be opening new financial accounts. Bizarre.
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james100
Member of DD Central
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Post by james100 on Jul 11, 2023 13:53:36 GMT
Forgive me for a little morning rant, As a person of a certain age I needed hearing aids, went to Boots and was in the process of purchasing a pair, realised that I could have them on interest free payments, the credit check turned me down but tried under my wife's name and was successful. Also I have been knocked back when trying to open savings accounts with amongst others , Raisin, Santander and Nationwide. I have been successful opening accounts with Chip, Chase and P2p accounts, I am not concerned about obtaining credit but it annoys me to find that I have difficulty in opening savings accounts, Surely there must be a way of compiling a register of Bona Fide applicants that have been checked for tax, national insurance payments, fraud etc. I can partly understand why there may be a problem; payed off my mortgage twenty five years ago, never had any credit or credit card, moved house numerous times, lived in France for 14 years,
On the plus side Served on nuclear submarines (Positively vetted), worked for probation service, bank account with Barclays for fifty years, started and ran a UK company for fifteen years employing 25 people. but still can't open a savings account. somewhere along the line I must have a black mark. Any suggestions Rant over How many years ago did you return from France? I had exactly the same thing on repatriation in the past...
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billt
Posts: 105
Likes: 79
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Post by billt on Jul 11, 2023 16:48:51 GMT
one year ago
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