Credit scoring is silly
Credit scoring is what banks use to estimate whether you are going to pay them back or just bum around with their money.
But it's a weird system. I went down to move my student account to Halifax from HSBC the other way. Not open a NEW account but simply MOVE an existing account.
They turned me down because my credit score wasn't good enough.
Meanwhile, at the same time, Lloyds TSB were approving me for a credit card with a £1,000 limit! Twice what they will normally give you.
Could somebody please explain this to me? The banks can't - Halifax said at the branch they didn't get any information on why I had been turned down as there was nothing negative on my credit report.
They told me to phone the main call centre up who informed me if I had failed the credit check then that was that nor did they seem to like the suggestion that there was nothing negative on my credit report (there isn't, I've checked, it's perfect).
- Greetings! I'm Chris and this is my blog about debt, finance and generally having no money. Luckily as a student, it's just expected of me to have no money so it's all good.