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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

First Direct Have Turned me down for Joint Acct with DH....because I am a SAHM?

70 replies

BeyondRepair · 10/05/2014 11:30

I am so upset.

There is nothing adverse on my credit file apparently...I know I have been on electoral role for about 10 years.

They will not tell me what their criteria is.

I can only think its because I have said I will not be paying anything into the account as I am A SAHM, but DH pays into the account....

I feel like utter crap.

I am married to DH his wage is our wage....he is supporting me whilst I rear our baby FFS.

OP posts:

Nennypops · 10/05/2014 11:35

I suspect the problem may be that you haven't built up any credit history in your own name, so they can't tell whether you're a risk or not. But I agree it's stupid.

Original poster

BeyondRepair · 10/05/2014 11:37

Could this be the case even though they say..."no adverse information held against you with Experian"

If I had no credit history wouldn't that come under adverse info?

I have my own bank account...

OP posts:

Neverknowingly · 10/05/2014 11:37

The problem with things like this is the the fact that it just makes you feel so powerless to I do sympathise.

However, in the scheme of things it is really best just to let it go rather than dwell on it. Credit decisions can be an absolute mystery and often people with perfect credit histories get knocked back because the banks will never make any money out of such people.

Is there a large overdraft facility on the account - could that be why they are concerned? Can DH simply add you as a second card holder without you actually becoming a joint account holder?

If all else fails get a basic bank account with another provider and just do transfers from your FD account. We have Nationwide/Halifax because FD pays naff all interest on credit balances so we only really use FD for direct debits and make use of the free £250 overdraft and all of our actual cash is held in Nationwider/Halifax until needed in the FD account to pay bills.

RubyGoat · 10/05/2014 11:38

How many threads have you started on this? It might get confusing, can you post links to one thread you want to continue.

Nennypops · 10/05/2014 11:38

A friend of mine had to jump through all sorts of hoops when applying for a mortgage with Santander, purely because she has chosen to retain her own surname and not take her husband's. Apparently they think that this somehow means that she may have accounts she's not telling them about using her husband's surname - e.g if her name were Jane Smith and her DH's John Brown, she could have secret accounts in the name of Jane Brown. The logic of it completely bewilders everyone; if she were using the name Jane Brown, surely there is an equal danger that she might have dodgy accounts in the Jane Smith name?

Neverknowingly · 10/05/2014 11:39

No credit history is not adverse. It is just not positive - ie they can't see that you have had credit and paid it off (and even better paid some interest on it so that they have made some money out of you). Perhaps it is worth thinking about doing a few things to start building your credit file particularly since if you and DH do get a joint account your credit files will become (if they are not already) linked.

Original poster

BeyondRepair · 10/05/2014 11:45

never thanks so much some good advice there....

Is there a large overdraft facility on the account - could that be why they are concerned?
There is no OD, we have mort with them too.

I wonder if I get DH to apply to go on my bank account...would that help my credit rating at all?

never before we applied we looked at Noodle and according to that my rating was better than DH! But yes no credit in my name....I dont know how to go about sorting it out...I thought it was OK from noodle.

A long time ago I defaulted on an OD but that is now off my file...well over 6 years ago...I have not applied to o joint with him any sooner and I did not go on the mortgage as when we applied the debt was on my file...so we have waited all this time for it to go and now this

OP posts:

Original poster

BeyondRepair · 10/05/2014 11:46

nenny

This is what I have done, I have applied in Maiden name as the ID they wanted was still in Maiden name as is my current bank account...I did tell them however I was happy for names to be switched to married.

I was going to bank acct asap, and passport runs out in Jan. So will renew in married name...

OP posts:

teacherwith2kids · 10/05/2014 11:48

That's odd. We have been with FD for ages, and obtained joint mortgage, joint account etc while I was a SAHM. I don't think it can just have been the SAHM-ness that was the problem, as our experience suggests it's not a blanket policy.

Original poster

BeyondRepair · 10/05/2014 11:53

Teacher I put down no money of mine would be going into account, there is a box to tick...how much £ will be going in, and a longer list of money going in.

Maybe you indicated that money would be going in. I didnt I didnt think it was an issue as DH money going in.

They said although we are married they look at us as if we are individual going onto account, I said they might look at it like that, but that's penalising me, as a sahm, DH money is our money!

OP posts:

MissDuke · 10/05/2014 11:54

Can you try a different bank and just move the accounts over? I think that is pathetic personally. Does the child benefit not count as your contribution?

Neverknowingly · 10/05/2014 11:55

Yeah - I have a much better credit rating with callcredit (now called Noddle a quick google tells me) than I do with Experian. I think most of the big banks use Experian.

I don't know about DH going on your account helping your credit rating but it would definitely create a financial link so it could potentially impact both of your credit ratings.

Original poster

BeyondRepair · 10/05/2014 12:01

Miss DUKE I didn't put down any money would be going in from me. Perhaps naively I thought my DH money, would all be enough.

I will look at my rating on Experian.

I just don't know what to do to get better rating, I could apply for credit cards but I am sure they wont give me one if I have no income coming in....

I just dont see why they cant even say what the areas they look at are! they dont have to tell the exact figures and so on....or go into more detail but how can I know how to make things better if I dont know why they failed me.

OP posts:

Stupidgrl · 10/05/2014 12:06

My dh had always had problems like this (permanent job, professional) because he had built up no credit history. Whereas I, with multiple store cards etc in my youth, get offered credit all the time.
Try another bank.

BrunoBrookesDinedAlone · 10/05/2014 12:08

I would move the whole account and tell them why, and if it's linked to the mortgage, tell them you're looking in to moving the mortgage too.

Original poster

BeyondRepair · 10/05/2014 12:08

Thanks Stupid Girl.

So I need to try and get a credit card then, and build up credit history.

OP posts:

Stupidgrl · 10/05/2014 12:09

.. Meant to add, despite him having his own mortgage we were turned down for a joint account when we moved in together. We tried an online bank instead and were accepted straight away.

CurlyBlueberry · 10/05/2014 12:09

I think that's odd. When we got our joint bank account we weren't married, and I wasn't earning anything due to being a student. But they had absolutely no issues with it. On the other hand, that was us setting it up together rather than adding one person onto another's account, perhaps that's an easier way to do it? Set up a whole new account?

Original poster

BeyondRepair · 10/05/2014 12:12

Thus far some people think it could be that I am not earning enough to have a current account in my own right which for FD is 1500 a month.

The second point is I do not have nor ever had any credit cards. I have a basic visa debit card with my own bank.

I dont have a mobile phone contract no bills in my name.

OP posts:

Neverknowingly · 10/05/2014 12:12

Make sure you don't pay for it - just get the freebie trial. And remember credit scores are not everything. Credit scores do not take into account earnings and outgoings (just how you have dealt with previous credit) whereas lenders often do so and may place more weight on this depending on the facility in question. If it does turn out that you have an issue with your actual credit score however then look at money saving expert - they have good credit builder advice.

OurMiracle1106 · 10/05/2014 12:13

Thing is no adverse means no defaults etc. If you've never had credit it's not adverse but it's not positive either because they cannot see how you would manage credit. Therefore they don't know whether you are a risk, or not.
It's actually quite a common issue

Original poster

BeyondRepair · 10/05/2014 12:15

Thanks Never.

First thing is Experian, then possibly credit card somehow with help of MSE hopefully....then look into my own bank upgrading my account and adding DH and switching from FD.

OP posts:

Original poster

BeyondRepair · 10/05/2014 12:17

I can understand part of why they do it, and I understand they look at me alone, but also my DH has been extremely financially good, has had an account with them since .....long time....and I am his wife..he has wage going in!

OP posts:

CoffeeTea103 · 10/05/2014 12:22

I think you should try at another bank op. Different banks have different criteria. I was only engaged to my DH and not working yet I was approved fine for a joint account. Maybe it will work out at another place.

splendide · 10/05/2014 12:22

Is it simply that the account you want has a minimum income criteria? That would be nothing to do with your credit. I think mine I have to pay in £2000 a month.

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