Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 4:56 PM
    • 6Posts
    • 0Thanks
    Christian Hilton
    Good credit score and report but turned down for MBNA credit card?
    • #1
    • 18th Jun 17, 4:56 PM
    Good credit score and report but turned down for MBNA credit card? 18th Jun 17 at 4:56 PM
    First timer hoping that someone can help. I applied for an MBNA All Round Card (balance transfer and payment) and was unexpectedly turned down. My Experian score is 996 with no 0 score factors and Equifax is 509 (37% credit utilisation, good repayment conduct but 3 credit searches in last 12 months). I applied for a First Direct account at the beginning of the year, this was accepted but I had to chase them up at least three times for the paperwork, each time I was assured that it would be in the post within 48 hours. Eventually, in April, I was told that no one had actioned the process, that they were very sorry and that it could affect my credit ratings! I decided not to proceed with switching to First Direct as I had lost faith. Is there anything I can do?
Page 1
    • Chrysalis
    • By Chrysalis 18th Jun 17, 5:04 PM
    • 1,946 Posts
    • 888 Thanks
    Chrysalis
    • #2
    • 18th Jun 17, 5:04 PM
    • #2
    • 18th Jun 17, 5:04 PM
    I cannot tell you why MBNA turned you down, each company has its own policies.

    But the following may be factors.

    Length of time at current address and previous addresses
    Longest financial relationship without problems.
    Existing credit, terms, missed payments and utilisation levels.
    Employment status
    Accommodation costs
    Electrol roll status
    CCJ's bankruptcy
    History with MBNA and its partners.
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 5:11 PM
    • 6 Posts
    • 0 Thanks
    Christian Hilton
    • #3
    • 18th Jun 17, 5:11 PM
    • #3
    • 18th Jun 17, 5:11 PM
    Thank you for your reply but none of the factors you mention are an issue; I've lived at my current address for 2 years and address before that for 12 years, haven't had financial problems, in full time employmet, live at home with my parents rent free, on the electoral roll and have one other card with MBNA with all payments up to date.
    • Tarambor
    • By Tarambor 18th Jun 17, 5:19 PM
    • 894 Posts
    • 603 Thanks
    Tarambor
    • #4
    • 18th Jun 17, 5:19 PM
    • #4
    • 18th Jun 17, 5:19 PM
    In full time employment, live at home rent free and 37% credit utilisation? Doesn't look that good, you should have a load of money.
    • Chrysalis
    • By Chrysalis 18th Jun 17, 5:43 PM
    • 1,946 Posts
    • 888 Thanks
    Chrysalis
    • #5
    • 18th Jun 17, 5:43 PM
    • #5
    • 18th Jun 17, 5:43 PM
    2 years isnt a very long time.
    • sourcrates
    • By sourcrates 18th Jun 17, 7:00 PM
    • 11,199 Posts
    • 10,861 Thanks
    sourcrates
    • #6
    • 18th Jun 17, 7:00 PM
    • #6
    • 18th Jun 17, 7:00 PM
    Your choice of credit card provider is probably more to do with the issue.

    MBNA have recently been taken over by Lloyds having been on the brink of going bust.

    They will actively be looking for customers who will make them money at this uncertain time, you obviously did not fit there lending criteria.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 10:53 PM
    • 6 Posts
    • 0 Thanks
    Christian Hilton
    • #7
    • 18th Jun 17, 10:53 PM
    • #7
    • 18th Jun 17, 10:53 PM
    Taken on board but lived at previous address for 12 years with no problems.
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 10:55 PM
    • 6 Posts
    • 0 Thanks
    Christian Hilton
    • #8
    • 18th Jun 17, 10:55 PM
    • #8
    • 18th Jun 17, 10:55 PM
    Thank you. Possibly naive but thought that if I already had a card with them it would be taken into account.
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 10:58 PM
    • 6 Posts
    • 0 Thanks
    Christian Hilton
    • #9
    • 18th Jun 17, 10:58 PM
    • #9
    • 18th Jun 17, 10:58 PM
    Not quite sure what you are getting at but yes, I have savings in various places, just wanted a 0% credit card with a small balance transfer.
    • Christian Hilton
    • By Christian Hilton 18th Jun 17, 11:02 PM
    • 6 Posts
    • 0 Thanks
    Christian Hilton
    Have subsequently spoken to First Direct who apparently carried out 3 credit checks. They have admitted their error, apologised, logged a complaint and are looking into removing the credit checks; all will be in writing within the next week. Thank you everyone for your help and advice.
    • DCFC79
    • By DCFC79 18th Jun 17, 11:42 PM
    • 29,556 Posts
    • 18,678 Thanks
    DCFC79
    Your score despite being all good has no bearing on loans etc, no 1 else can see it, they see the credit history.

    A good example why the score isn't to be entirely trusted.
    Last edited by DCFC79; 19-06-2017 at 12:13 AM.
    Je Suis Charlie
    • Candyapple
    • By Candyapple 19th Jun 17, 12:08 PM
    • 2,173 Posts
    • 1,672 Thanks
    Candyapple
    If you already have a card with MBNA, how have you run the account?

    I've not known MBNA to usually decline second, or even third cards with them once you are already a cardholder of theirs, so if you are 100% there is no bad info on your credit files (they run monthly feeds from the credit reference agencies) then it will be down to your internal customer rating - in which case there's nothing you can do about it, perhaps you just don't meet their criteria at this point in time.

    Have you checked your Call Credit file? www.noddle.co.uk

    Have you entered your details in the link below, what were the results?
    https://www.moneysavingexpert.com/eligibility/credit-cards/
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • forgotmyname
    • By forgotmyname 21st Jun 17, 4:08 AM
    • 25,299 Posts
    • 10,041 Thanks
    forgotmyname
    Not the only one with little faith with First Direct then.

    I switched last year and they were a PITA. I should have said dont bother but thought just a few glitches. But they still have not setup phone banking for the wife. No issues with my side but they made her jump through hoops.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,480Posts Today

9,307Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin