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  • FIRST POST
    • Chris_derby
    • By Chris_derby 9th Jul 17, 2:49 PM
    • 4Posts
    • 0Thanks
    Chris_derby
    Credit card declined??
    • #1
    • 9th Jul 17, 2:49 PM
    Credit card declined?? 9th Jul 17 at 2:49 PM
    Sorry it's long winded but just been declined for a credit card due to too many applications in a short space of time.

    I currently have a credit card and my 0% interest period is running out so would like to transfer the balance to another card credit card

    I looked at the Halifax (29 months at 0% interest, 0% balance transfer fee) but they would only offer me 14 months online rather than 29 months. I spoke to them on the phone and they offered me two other deals but I declined as they weren't as good.

    I then applied for the Lloyds (33 months at 0% interest, 0.59% balance transfer fee). I got accepted however on the offer page stated 3.00% fee instead of the expected 0.59%. I queried this with there Twitter account and they advised me to phone. So I phoned and they explained that initially you are charged 3.00% but get refunded within 90 days equating to 0.59%.

    By this time the page had timed out. I reapplied and by the time my query was resolved the page had timed out again.

    So I applied a third time and my application was declined due to too many applications in a short space of time.

    Can you offer any advise to me as firstly I would like the credit card so I don't get stung with interest on my other existing card. And secondly I am concerned that my credit score maybe be affected? Is this true?

    Thanks, I hope you can help.

    Chris
Page 1
    • PeacefulWaters
    • By PeacefulWaters 9th Jul 17, 3:01 PM
    • 6,852 Posts
    • 8,441 Thanks
    PeacefulWaters
    • #2
    • 9th Jul 17, 3:01 PM
    • #2
    • 9th Jul 17, 3:01 PM
    Too many searches can impede your ability to get credit, but typically only for a short period.
    • Chris_derby
    • By Chris_derby 9th Jul 17, 3:21 PM
    • 4 Posts
    • 0 Thanks
    Chris_derby
    • #3
    • 9th Jul 17, 3:21 PM
    • #3
    • 9th Jul 17, 3:21 PM
    Thanks for that. How short we talking? I would like a new credit card asap to avoid the interest on my existing card, but don't want to risk getting declined again and make it worse.
    • zx81
    • By zx81 9th Jul 17, 3:24 PM
    • 13,188 Posts
    • 13,502 Thanks
    zx81
    • #4
    • 9th Jul 17, 3:24 PM
    • #4
    • 9th Jul 17, 3:24 PM
    Apply again now.
    • Chris_derby
    • By Chris_derby 9th Jul 17, 3:47 PM
    • 4 Posts
    • 0 Thanks
    Chris_derby
    • #5
    • 9th Jul 17, 3:47 PM
    • #5
    • 9th Jul 17, 3:47 PM
    Won't that make things worse?
    • zx81
    • By zx81 9th Jul 17, 4:15 PM
    • 13,188 Posts
    • 13,502 Thanks
    zx81
    • #6
    • 9th Jul 17, 4:15 PM
    • #6
    • 9th Jul 17, 4:15 PM
    I misread your OP. Give it three months. Use the time to reduce your existing debt and check your files.
    • DCFC79
    • By DCFC79 9th Jul 17, 4:18 PM
    • 29,965 Posts
    • 18,978 Thanks
    DCFC79
    • #7
    • 9th Jul 17, 4:18 PM
    • #7
    • 9th Jul 17, 4:18 PM
    Your may be affected, in fact the nice weather could affect it even more. Your score is what you and you alone, the credit history is what lenders etc can see.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Chris_derby
    • By Chris_derby 9th Jul 17, 5:18 PM
    • 4 Posts
    • 0 Thanks
    Chris_derby
    • #8
    • 9th Jul 17, 5:18 PM
    • #8
    • 9th Jul 17, 5:18 PM
    Ok thanks for your replies.

    The money I have on the existing credit card is for my wedding, I wanted to pay for as much as I could interest free on credit and then pay out the cash as I understand not everything can be put on credit card. I have always and plan to make the minimum payment every month.

    I take it that if I went to a different bank now, I am likely to get a similar response as it will be recorded that I've been declined?
    • zx81
    • By zx81 9th Jul 17, 5:47 PM
    • 13,188 Posts
    • 13,502 Thanks
    zx81
    • #9
    • 9th Jul 17, 5:47 PM
    • #9
    • 9th Jul 17, 5:47 PM
    Declines aren't recorded. Searches are.
    • chattychappy
    • By chattychappy 9th Jul 17, 5:55 PM
    • 6,305 Posts
    • 3,299 Thanks
    chattychappy
    I looked at the Halifax (29 months at 0% interest, 0% balance transfer fee) but they would only offer me 14 months online rather than 29 months. I spoke to them on the phone and they offered me two other deals but I declined as they weren't as good.
    Originally posted by Chris_derby
    I wonder if you can call them again and whether they will resurrect your previous application, or consider a fresh one manually.

    It is true that too many applications gets spotted by credit scoring algorithms. But data protection law gives you the right to have an application considered manually. People on here have successfully "appealed" declines - and here it was you that declined! So perhaps if you call them back and explain the multiple search thing, they'll let you have a card, even if they must search again.

    The offer might not be as good as you want - but almost anything is better than ending up on standard interest.
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