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Egg Money Credit card application declined, high credit score.
PokerPortal
Posts: 253 Forumite
in Credit cards
Hi
About two weeks ago I applied for the Egg Money credit card and to my surprise my application was declined. I phoned Egg and they told me that my credit score was too low, and that was all the telephone operator knew. The credit agency they used was Experian. Next thing I did was to request my £2 Credit Report from them, which they sent by post. After reading the report, I could not see anything wrong with it. What was strange was the fact that my HSBC accounts did not show up (current account, savings account, regular savings account, ISA). Spoke to HSBC and they only send information about these accounts when you are overdrawn. Tonight I went to the Experian site again and requested my credit score. To my surprise my national credit score was 960 on a scale of 0-1000, which qualified for the 'Good' category. They even stated "in comparison, your National Credit Score is higher than that of 70% of UK consumers applying for credit."
Egg has the policy that you can't apply for a new credit card, if you were declined, for another three months. But you can contact them if your circumstances have changed. My circumstances have not changed.
What is my next step to get the Egg money card?
And does anybody else have a similar experience with Egg? Is their qualifying credit score that high?
About two weeks ago I applied for the Egg Money credit card and to my surprise my application was declined. I phoned Egg and they told me that my credit score was too low, and that was all the telephone operator knew. The credit agency they used was Experian. Next thing I did was to request my £2 Credit Report from them, which they sent by post. After reading the report, I could not see anything wrong with it. What was strange was the fact that my HSBC accounts did not show up (current account, savings account, regular savings account, ISA). Spoke to HSBC and they only send information about these accounts when you are overdrawn. Tonight I went to the Experian site again and requested my credit score. To my surprise my national credit score was 960 on a scale of 0-1000, which qualified for the 'Good' category. They even stated "in comparison, your National Credit Score is higher than that of 70% of UK consumers applying for credit."
Egg has the policy that you can't apply for a new credit card, if you were declined, for another three months. But you can contact them if your circumstances have changed. My circumstances have not changed.
What is my next step to get the Egg money card?
And does anybody else have a similar experience with Egg? Is their qualifying credit score that high?
Money in longest works hardest
0
Comments
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They can cherry pick who they want as customers - you may have had too good a credit score and they might have thought that they are unlikely to make money out of you.
Just a side point do you have the Egg green card (normal one - its confusing now as both are green!)?
Eric0 -
No, I don't have the Egg green card. I have never been an Egg customer before. The thing is, I would like to use the 4% on a positive balance that the card offers. They will make money out of me. The next obvious step for me is to talk to them again, but I am not sure how to bring it to them.
Surely they will like the fact that I want to put a positive balance on the card and use it? Still confused.Money in longest works hardest0 -
Why not comtact Egg underwriters (Lending Team) on 08453660016.
S110 -
Use the back door!!!
Open an Egg saving a/c say with £1. You then become one of their customer. It is then a lot easier to apply for one of their credit card on line when you access your saving account.
Good Luck.Regards
Mark0 -
Snap Systemaddict, did mine through rpoints and got £10 too.
PP,that was after being declined by Egg with a score of 940. They are more inclined to give cards to customers.ac's lovechild0 -
The credit score you get from Equifax and Experian is misleading as the system they use is different from the way lenders score for credit. There is no way of knowing wether you have a good score as this will vary from lender to lender. As a poster mentions above Egg is entititled to pick who they want and it maybe that at this time they felt they could not make any money from you. It is not a reflection on your credit worthiness it is just that you don't fit the profile they are looking for at the moment.0
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You can officially appeal against the rejection - they did decline my initial application but similar to you, I couldn't understand why. I sent them a 'secure message' (from their site) asking whether they would reconsider, and they did, I got my card after some more discussion with them. In those discussions, I kept telling them how great and unique the Egg Money card is, and that it's just what I had been waiting for all the time.
Never got to the bottom why they initially declined my application, but it may have been because I had applied for another couple of (non-Egg) credit card before. I kept telling them that had I known about Egg Money, I wouldn't have bothered with the others.
My interest rate isn't great but since I don't intend to owe them any money, that's not an issue for me. They did give me a decent credit limit, and said if I wanted to up it, I could ask them in a couple of months time.0 -
I have left a 'secure message' on their site. If that does not work I will have to do it the slower way by applying for a savings account first and then when I am an Egg customer, apply for the Egg Money card again.
Thanks for all the responses! Much appreciated.Money in longest works hardest0 -
Good luck, PokerPortal, hope you will be able to convince them that they want you as a valued customer! Let us know of your progress0
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I have an Egg green card and applied for their new one.. However my application was declined. No reason but they did the operator did say I could appeal.
However if they didn't think I was suitable initially I certainly wasn't going to beg for another card.0
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