Turned down for Barclaycard loan - !!!!!! !!!

[Deleted User]

It was only for £4000. Our joint income is well above average, we dont have any other loans, apart from about 10K outstanding credit card debt, and have got a good credit rating but they still turned us down !!!

To be honest, I thought there was something up when they requested a copy of bank statements, payslips etc and then took weeks to make a decision.

Any ideas why they did this?

jonesMUFCforever

Only £4k ?? £10k o/s on credit cards - sorry but you have to get real here.
Your income may be above the average but what about your spending - do you have any savings?

Have you considered why you have £10k worth of debts?

I would post on the debt free wannabe board for more useful information.

dhassen

[quote=[Deleted User];discussion/1068391] Any ideas why they did this?[/quote]

well, maybe it's because:

[quote=[Deleted User];discussion/1068391]
10K outstanding credit card debt,[/quote]

You kinda answered your own question there mate..........

[Deleted User]

dhassen wrote: »

well, maybe it's because:



You kinda answered your own question there mate..........

Of which the loan was to pay some of it off !!!!

Not trying to do a bit of willy-waving here or anything but of the 4-5 credit cards I've got thats about 50% of the limit of one of them, so its not as if I'm up to the limit on them or anything...

spamberler

They turned me down and I dont have any debts or a bad rating! The only thing I could think of was that I moved house a few month earlier but they wouldnt tell me why

Sorry, didnt see the loan bit! mine was for the Credit Card

iolanthe07

Have you had a look at your credit rating? Could be that there's a mistake - also, are you on the Electoral Register? Some of these decisions do seem strange, but each lender have their own criteria.

jonesMUFCforever

[quote=[Deleted User];12974073]Of which the loan was to pay some of it off !!!!

Not trying to do a bit of willy-waving here or anything but of the 4-5 credit cards I've got thats about 50% of the limit of one of them, so its not as if I'm up to the limit on them or anything...[/quote]
OK you now say that you have 4 - 5 cards.
Please add up the total limits on these cards (this what your bank can see) and compare with your salary.

You might have high limits on some of them which is making your bank think that you may be over committed.

[Deleted User]

jonesMUFCforever wrote: »

OK you now say that you have 4 - 5 cards.
Please add up the total limits on these cards (this what your bank can see) and compare with your salary.

You might have high limits on some of them which is making your bank think that you may be over committed.

Hmmm. Could be I suppose.

I've never had a problem in the past but I'm just wondering if the old 'credit crunch' thing is making things a little more difficult to get credit.....

Been turned down for another loan now as well. I'm guessing appklying for loans and allowing them to do credir checks on me is making it worse?