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  • FIRST POST
    • Majorchance
    • By Majorchance 18th Mar 17, 11:51 AM
    • 7Posts
    • 1Thanks
    Majorchance
    Credit card help
    • #1
    • 18th Mar 17, 11:51 AM
    Credit card help 18th Mar 17 at 11:51 AM
    Hi guys hope you're all well
    I'm after some advice regarding a recent credit card application
    I've applied for a credit card for Sainsbury's .
    The card has been referred / application.
    I'm now worried what the outcome maybe and if they decline it
    I currently have a nationwide credit card with a £2000 limit i owe £100 .
    I also have a nationwide loan of 10k
    This was a lone over 5 years for our wedding of that loan I have 6k left and will end up more then likely paying some back .
    I also have savings I've around 7k myself this is for a house .
    I only wanted a new credit card as I wanted a 0% one rather then be charged if I make a big purchase and not pay it back .
    I worry about what a decline could do to my credit score .
    My credit score is good the only really problem is my address history
    I lived at one address for 23 years with parents then moved in with my partner hen moved 60 miles away 12 months ago along with jobs .
    Has anyone got any advise on this for me

    Thanking you
Page 1
    • bengalknights
    • By bengalknights 18th Mar 17, 1:31 PM
    • 3,993 Posts
    • 1,461 Thanks
    bengalknights
    • #2
    • 18th Mar 17, 1:31 PM
    • #2
    • 18th Mar 17, 1:31 PM
    If your income to debt ratio is low then chances are it will approve on manual verification (with a chance that you dont get the offer you wanted)

    In terms of impact one credit search isnt the end of the world
    • Majorchance
    • By Majorchance 18th Mar 17, 1:32 PM
    • 7 Posts
    • 1 Thanks
    Majorchance
    • #3
    • 18th Mar 17, 1:32 PM
    • #3
    • 18th Mar 17, 1:32 PM
    Even if it's a decline
    • molerat
    • By molerat 18th Mar 17, 2:07 PM
    • 16,456 Posts
    • 10,629 Thanks
    molerat
    • #4
    • 18th Mar 17, 2:07 PM
    • #4
    • 18th Mar 17, 2:07 PM
    No one sees if it is an accept or decline, it is just a search for credit application.
    www.helpforheroes.org.uk/donations.html
    • Marchitiello
    • By Marchitiello 18th Mar 17, 3:21 PM
    • 236 Posts
    • 84 Thanks
    Marchitiello
    • #5
    • 18th Mar 17, 3:21 PM
    • #5
    • 18th Mar 17, 3:21 PM
    In my experience dealing with an underwriter looking at my credit file, application that were accepted can be cross checked vs. Account opening dates. So for example in March 2016 they can see applications for MBNA, Barclaycard, Santander, Sainsbury and others but only the Barclaycard was opened in March 2016, they can assume that the others were declines... obviously most of us won't have the opportunity to explain additional circumstances...
    • Majorchance
    • By Majorchance 18th Mar 17, 3:33 PM
    • 7 Posts
    • 1 Thanks
    Majorchance
    • #6
    • 18th Mar 17, 3:33 PM
    • #6
    • 18th Mar 17, 3:33 PM
    The underwriter contact me before he declines it
    • Marchitiello
    • By Marchitiello 18th Mar 17, 4:28 PM
    • 236 Posts
    • 84 Thanks
    Marchitiello
    • #7
    • 18th Mar 17, 4:28 PM
    • #7
    • 18th Mar 17, 4:28 PM
    The underwriter contact me before he declines it
    Originally posted by Majorchance
    No, it won't; they deal with the internal new application team. My original response was directed at the general thinking on this forum that "no one" will see the results of your application forgetting that the credit file contain opening dates and actually flags recent changes... The computer algorithm will do generally the decline. My experience with the underwriters was about my remortgage and how they were interpreting a recent decision of rearranging my credit cards (close 5 and open 3 new ones...) as I was at one end of one line whilst the advisor was speaking on another line, on speakers, with the underwriter...
    Last edited by Marchitiello; 18-03-2017 at 4:58 PM.
    • A4445
    • By A4445 18th Mar 17, 4:32 PM
    • 572 Posts
    • 269 Thanks
    A4445
    • #8
    • 18th Mar 17, 4:32 PM
    • #8
    • 18th Mar 17, 4:32 PM
    I've had lots of applications refered and I think all of them were accepted, it's no big deal it being refered they may just want to do some extra checks.
    • 20aday
    • By 20aday 18th Mar 17, 5:17 PM
    • 1,995 Posts
    • 828 Thanks
    20aday
    • #9
    • 18th Mar 17, 5:17 PM
    • #9
    • 18th Mar 17, 5:17 PM
    I opened a Sainsbury's credit card account a couple of years ago and also got a referral; around two weeks' later they wrote to me telling me I'd been successful.

    It's worth pointing out if you're using some of your existing credit cards for smaller purchases and clearing the balance(s) in full each month then they won't attract interest.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • Majorchance
    • By Majorchance 18th Mar 17, 7:06 PM
    • 7 Posts
    • 1 Thanks
    Majorchance
    Thank you all for your help I used the credit club in here and accepted rate was 90 or 95 so I thought it would sale though
    • 20aday
    • By 20aday 19th Mar 17, 6:20 AM
    • 1,995 Posts
    • 828 Thanks
    20aday
    Thank you all for your help I used the credit club in here and accepted rate was 90 or 95 so I thought it would sale though
    Originally posted by Majorchance
    So that'd mean for every 100 applicants either five or 10 customers would be 'declined'-even with those results any applications are subject to further checks (as pointed out on the soft search tool).
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
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