MBNA Classic Mastercard - do I have a chance?

hax_2 · 28 November 2009 at 5:21PM

Hi everyone

I want to apply for the MBNA Classic Mastercard next week (after the electoral roll update).

I have 2 new CC accounts this year:

1. Co-op CC, started Oct 2009, with 1 month good payment history.
2. Halifax (Aqua) CC, started Apr 2009, with 5 months good payment history.

My credit file (Experian) is clean, i.e. never been late on a payment. I also have:

1. 4 years good payment history with Capital One.
2. 2 years good payment history with Vanquis.

However I've read on other threads that MBNA reject CC applications when the customer has recently opened a CC account with another provider. Would this be an automatic rejection based on my new accounts above? I don't want to waste a search.

Thanks.

hax_2 · 28 November 2009 at 9:58PM

I thought I'll mention that I've lived at my address for over 20 years, but I prefer to wait for the electoral roll update just in case they get suspicious and wonder why I'm applying just before the update.

I've also been employed for 2 years and had my main bank account for just under 2 years.

Hope this helps.
Thanks.

never-in-doubt · 29 November 2009 at 11:28PM

How many searches have you had done in the last year (roughly)....?

So you have coop, aqua, cap1 and vanquis then? Can you confirm what limit coop gave you (as it was recent)?

You should apply to MBNA in the week - mon to friday for instant decision and you can also appeal if it declines, but let me know the above cos it'll help answer you...

greenmantle · 29 November 2009 at 11:48PM

just in case they get suspicious and wonder why I'm applying just before the update.

Uh-oh, does that happen??

*having applied for 2xcredit cards & 1x current account online Fri-Sun, all separate, all for perks, before electoral roll address changes*

Sorry for intruding, but perhaps this is the point where I should slap my forehead with my hand. Is there a smiley for that?

hax_2 · 29 November 2009 at 11:48PM

Thanks NID

My searches are quite low at the moment, only 1 in 6 months and 3 in a year.

My Co-op limit was 500, which is lower than my 2nd lowest limit (1250). I requested this myself though, and just entered the minimum limit they'll accept, because I was worried they might decline me if I chose a higher limit.

You know what, I wish I read some of the posts on this forum ages ago. I've made so many mistakes when applying for credit cards.

In April this year I was declined for the Post Office CC. I thought their response to my credit file would be "Oh no, this guy had defaults before, he's got the Vanquis and Capital One cards, let's decline him" sort of thing. I didn't even know that lender's names don't show up on my file, and Experian don't even mention this. All they say is Unrecorded enquiries/quotations etc are not visible to lenders. So I applied for an Aqua CC and was accepted, even though my credit report was actually better then than it is now. Basically I wasn't confident that I would get a mainstream card.

I read a lot of posts from Izools and Moggles about how MBNA Classic MC is easy to obtain, give generous limits, money transfer to bank account at promotional rates etc so I was encouraged. I wish I read this before applying for a Co-op card.

I also forgot to mention that I applied for Virgin in March 08 when I had defaults (all gone now) and I was declined. I hope they don't have a record of that anymore.

Thanks once again NID.

hax_2 · 29 November 2009 at 11:51PM

greenmantle wrote: »

Uh-oh, does that happen??

*having applied for 2xcredit cards & 1x current account online Fri-Sun, all separate, all for perks, before electoral roll address changes*

Sorry for intruding, but perhaps this is the point where I should slap my forehead with my hand. Is there a smiley for that?

Don't worry greenmantle, I'm probably wrong about this, I'm just trying to be safe that's all.

never-in-doubt · 29 November 2009 at 11:57PM

hax wrote: »

Don't worry greenmantle, I'm probably wrong about this, I'm just trying to be safe that's all.

Yes it really wouldn't matter that much.... if you've been at address 20 years how long shows on the electoral register? Is this also showing 20 years?

They would not check (or get suspicious) about you applying before the 'Monthly' update (rolling register)

hax_2 · 30 November 2009 at 12:03AM

I've always been on the electoral roll since I first registered (in 1995, as I'm in my early 30s).

never-in-doubt · 30 November 2009 at 12:04AM

hax wrote: »

Thanks NID

My searches are quite low at the moment, only 1 in 6 months and 3 in a year.

Ok, so they will not refuse you due to searches.....

hax wrote: »

My Co-op limit was 500, which is lower than my 2nd lowest limit (1250). I requested this myself though, and just entered the minimum limit they'll accept, because I was worried they might decline me if I chose a higher limit.

I assume you bank with them, to request a limit (or is this normal?)? If anything offer to close it if MBNA question it......

hax wrote: »

In April this year I was declined for the Post Office CC. I thought their response to my credit file would be "Oh no, this guy had defaults before, he's got the Vanquis and Capital One cards, let's decline him" sort of thing.

Did you have defaults when you applied or had they gone at that point? Once they have left your credit file they are gone, forever!

hax wrote: »

I didn't even know that lender's names don't show up on my file, and Experian don't even mention this. All they say is Unrecorded enquiries/quotations etc are not visible to lenders. So I applied for an Aqua CC and was accepted, even though my credit report was actually better then than it is now. Basically I wasn't confident that I would get a mainstream card.

They do show up mate? Basically, if you apply for a credit card or bank account they will perform a credit search and possibly an unrecorded enquiry at previous address/linked address - as you applied they will make a search.

If you get a quote for a loan etc then this may show a quotation that other lenders cannot see (lenders can only see the previous searches data - not the unrecorded enquiry data)....

hax wrote: »

I read a lot of posts from Izools and Moggles about how MBNA Classic MC is easy to obtain, give generous limits, money transfer to bank account at promotional rates etc so I was encouraged. I wish I read this before applying for a Co-op card.

They are not easy, far from it. Moggled does know his stuff - no question about that, but I doubt he'd say they are easy.... they can be to some people, but to others impossible

hax wrote: »

I also forgot to mention that I applied for Virgin in March 08 when I had defaults (all gone now) and I was declined. I hope they don't have a record of that anymore.

Virgin is MBNA but that was over 18 months ago so no record of that will affect you now if you reapplied. As I say, they are quite hard to obtain (with a decent limit).... so don't be disheartened if they decline you....

It may be worth your while applying for MBNA and when they make decision (yes or no) apply to Tesco as they are easier but not the same as MBNA as do not offer SBT's....

never-in-doubt · 30 November 2009 at 12:08AM

hax wrote: »

I've always been on the electoral roll since I first registered (in 1995, as I'm in my early 30s).

Great, so good stability then....... you should have no problems in applying to MBNA - if they decline you then appeal and see what happens.... either way, don't take it personally - from what you've said you're not exactly a high risk but lenders are tight right now so bear that in mind.

Personally, i'd be going to places like Tesco / Asda / Play.com (MBNA) card as they have higher than normal acceptance rates.... even Barclaycard may be worth getting and you can 'test' the water by having a pre-check (quotation at Call Credit only) before applying..... https://letmechoose.barclaycard.co.uk/

This will tell you the likelihood of acceptance (not accurate but a good idea) and only records a soft search so other lenders cannot see it....

hax_2 · 30 November 2009 at 1:12AM

never-in-doubt wrote: »

I assume you bank with them, to request a limit (or is this normal?)? If anything offer to close it if MBNA question it......

No, I don't bank with them, its just normal they ask for a credit limit request. Excellent idea about offering to close the Co-op CC - never thought of this.

never-in-doubt wrote: »

Did you have defaults when you applied or had they gone at that point? Once they have left your credit file they are gone, forever!

The defaults were gone, because I checked my Experian file before I applied for Post Office CC.

never-in-doubt wrote: »

They do show up mate? Basically, if you apply for a credit card or bank account they will perform a credit search and possibly an unrecorded enquiry at previous address/linked address - as you applied they will make a search.

If you get a quote for a loan etc then this may show a quotation that other lenders cannot see (lenders can only see the previous searches data - not the unrecorded enquiry data).....

Yes, lenders names show up on the seaches, but I remember someone on the forums said that lenders names don't appear in the credit accounts section/payment history.

never-in-doubt wrote: »

They are not easy, far from it. Moggled does know his stuff - no question about that, but I doubt he'd say they are easy.... they can be to some people, but to others impossible

Sorry I meant to say relatively easier to obtain, i.e. easier than most others (although still difficult, as you rightly said). Can't remember who said this, either Moggles or Izools. Mind you, degree students can get this card, and Izools got it when he was 18.

MBNA Classic Mastercard - do I have a chance?

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