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Some Advice Please!!
loulikesfaeriecakes
Posts: 2 Newbie
in Credit cards
Hi,
I recently applied for an M&S credit card and was turned down, i didn't really understand their explaination of why but it was something to do with not racking up enough points on their scoring system. I have a credit card with HSBC with a small (approx £700) balance on it. I have a feeling that as HSBC run M&S money this may be why I was turned down but I'm not sure. My other debt includes a student loan which I started repaying a year ago and a career development loan which I began repaying at the same time. I'm in a job and earning a what I would consider to be a good salary (around £25,000 per yr)
I wanted the credit inorder to buy a car so my question is what is my best course of action, I still would like to buy a car as mine in falling to pieces but I don't want to keep applying for credit cards and getting rejected and adversly affect my credit score, should I go for a loan? I would like to borrow around £4,000 - £5,000.
Any help would be greatly appreciated!
Cheers
I recently applied for an M&S credit card and was turned down, i didn't really understand their explaination of why but it was something to do with not racking up enough points on their scoring system. I have a credit card with HSBC with a small (approx £700) balance on it. I have a feeling that as HSBC run M&S money this may be why I was turned down but I'm not sure. My other debt includes a student loan which I started repaying a year ago and a career development loan which I began repaying at the same time. I'm in a job and earning a what I would consider to be a good salary (around £25,000 per yr)
I wanted the credit inorder to buy a car so my question is what is my best course of action, I still would like to buy a car as mine in falling to pieces but I don't want to keep applying for credit cards and getting rejected and adversly affect my credit score, should I go for a loan? I would like to borrow around £4,000 - £5,000.
Any help would be greatly appreciated!
Cheers
0
Comments
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Credit cards never ever tell you why you were declined in my experience. I was recently accepted for an M&S card and I already had an HSBC card... although I had had the HSBC card for quite a while so perhaps that showed I was good with cards or something.You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
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loulikesfaeriecakes wrote: »Hi,
I recently applied for an M&S credit card and was turned down, i didn't really understand their explaination of why but it was something to do with not racking up enough points on their scoring system. I have a credit card with HSBC with a small (approx £700) balance on it. I have a feeling that as HSBC run M&S money this may be why I was turned down but I'm not sure. My other debt includes a student loan which I started repaying a year ago and a career development loan which I began repaying at the same time. I'm in a job and earning a what I would consider to be a good salary (around £25,000 per yr)
I wanted the credit inorder to buy a car so my question is what is my best course of action, I still would like to buy a car as mine in falling to pieces but I don't want to keep applying for credit cards and getting rejected and adversly affect my credit score, should I go for a loan? I would like to borrow around £4,000 - £5,000.
Any help would be greatly appreciated!
Cheers
I think that you should concider car finance / HP agreement / PCP - This way when you apply for the finance the finance company would secure the debt to the car therefore making the debt less risky.
Good luckBank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
Applying for a credit card is like making a proposal !
You do not always get a yes as the reply................................I have put my clock back....... Kcolc ym0 -
Robert_Sterling wrote: »Applying for a credit card is like making a proposal !
You do not always get a yes as the reply.
And if you're declined, you don't always get a sensible reason!!
You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
Nice one nz...............................I have put my clock back....... Kcolc ym0
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