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Strange experience with MBNA..
ferry
Posts: 2,016 Forumite
in Credit cards
I recently applied for a CC with MBNA to take advantage of their 0% deal but was turned down on the basis of affordability.
Ok,I totally understand that each creditor has their own lending criterior.
When I questioned this further as I've never been turned down for credit before,it was revealed that it was due to my high mortgage repayments that went against the decision to offer me a card.
I explained that it was my personal decision to overpay on my mortgage to not only bring the term down,but simply because I can afford to(mortage payment equates to under a third of the household income).
I explained this to one of their 'credit analysts' also that I also comfortably pay off a CC elsewhere.
My credit history is unblemished for the at least the last 3 years..
They couldn't help....
But ..they did offer me a loan with Loans.Co.Uk(which I think they own/are a part of) for an APR considerably higher than the 0% I applied for on a CC!!!But I was turned down for a 0% credit card beacause they thought I couldn't afford to maintain it!
Where did I go wrong!!
I just dont get it!!
Anyone else had any strange experiences with MBNA?
Ferry
Ok,I totally understand that each creditor has their own lending criterior.
When I questioned this further as I've never been turned down for credit before,it was revealed that it was due to my high mortgage repayments that went against the decision to offer me a card.
I explained that it was my personal decision to overpay on my mortgage to not only bring the term down,but simply because I can afford to(mortage payment equates to under a third of the household income).
I explained this to one of their 'credit analysts' also that I also comfortably pay off a CC elsewhere.
My credit history is unblemished for the at least the last 3 years..
They couldn't help....
But ..they did offer me a loan with Loans.Co.Uk(which I think they own/are a part of) for an APR considerably higher than the 0% I applied for on a CC!!!But I was turned down for a 0% credit card beacause they thought I couldn't afford to maintain it!
Where did I go wrong!!
I just dont get it!!
Anyone else had any strange experiences with MBNA?
Ferry
:j
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