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Advice Needed

I recently had a financial assesment with the RBS and explained to them that my current credit card with capital one has a 35% interest rate.
They advised me to apply for a RBS card which i did at the time which was approved in principle in the branch even though i had a CCJ which is being satisfied to all parties including the court.

4 Days later i recieved a letter from RBS to say my application has been declined and another letter 2 days after that saying the same thing.

What does approved in principle mean and can it be declined after it had been approved in branch during a credit check??

The bank say i have got 21 days to appeal the decision but am wondering is it worth it.

I have never had any problems with the bank and have my mortgage with them and also a £250 cheque card and ISA account and loan.


  • Robert_Sterling_3
    Approved in principle means that at first sight your application looks as if it might be successfull.
    It then goes to someone higher up in bank who looks at it more closely.
    They have decided not to offer you a credit card.
    ...............................I have put my clock back....... Kcolc ym
  • anotherpaul_2
    Personally, I'd appeal. You may not get anywhere, but it can't make you worse off (except for the time taken to write) and could make you a lot better off. Point out to them your savings, if they are substantial, and explain the CCJ situation, if it's beneficial to your appeal.

    Also, have you tried asking Cap1 to reduce your rate?
  • flyboyamm
    Thanks for that i will appeal.

    Spoke to cap1 and they refused to reduce my rate.
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