Doesn't ANYONE have an answer?

maforduk

Why do people get Credit Card after Credit Card and mount up huge debts yet I can't even get a life of balance or 0% card to help with the APR of my current Credit Card?
I want to Transfer my £2600 balance onto a 0% or Low APR Life of Balance Card but can't get any!

Anyone know why I can't get cards but people get card after card?

J_P_S

if you apply for lots in a short space of time they can see that and will turn you down

maforduk

J_P_S wrote:

if you apply for lots in a short space of time they can see that and will turn you down

But why get turned down in the first place though?
I'v only applied for two in the last 6 months!

J_P_S

oh ok it shouldnt be that then.

did they not give you a reason?
have you checked copies of your credit file to make sure everything is ok?

J_P_S

and all your other debts presumably show on your credit file so they may think you are after more credit.

maforduk

Everything is as should be.
There are late payments but that because of my wife's father passing away!
There is now a Notice of Correction on file recently but I can't aply for another one yet!

Clariman

maforduk wrote:

Everything is as should be.
There are late payments but that because of my wife's father passing away!

While the loss of a family member is a very reasonable explanation for making a late payment, your credit history will not reflect these circumstances and a lender will just see the late payments. Two late payments can have quite an impact on a credit rating I am afraid.

There is now a Notice of Correction on file recently but I can't aply for another one yet!

Notices of correction are a double-edged sword. They can actually hamper you getting credit as well as helping. Most credit card application processing is handled by automated scoring systems which take the numbers from the credit report and run them through the system and come out with a "yes" or "no". When you put a notice of correction on the computer system sees the flag to say there is info that needs human intervention to read and assess. It can go not further at this stage so some lenders will just reject you without even referring you to an underwriter. Others will refer you and then they will read the circumstances etc

Clariman

Bernard_Coleslaw

See link below re: Notices of Correction:

Notices of correction

Cheers

BC

TIGs

When i was turned down for a tescos visa card i phoned and asked why. They said as i had quite a high limit on my existing card which was with the halifax it can sometimes put them off, i lowered my limit on my halifax card and was given a tescos visa card straight away.

We were alos once turned down for some car insurance and when we looked into it the people who moved into our old house after us had the same surname as us, we sent off for a credit reference file and saw they owed thousands but becasue they had the same name as us we were linked to them, just had to write to credit reference comapny and have our name disassociated from theres never had any more problems since.

maforduk

Thank You all for the replies
Much appreciated.