BEEN DECLINED - Appeal Letter Template

BugsyBrowne

chicken7777 wrote: »

Lol only just found this thread myself. Got declined by virgin so sent them credit card statement from Natwest and Capital one along with my payslip. I guess i should have sent off my bank statements as they have been well obtained for 5 years straight (since i was 13 xD) and i explained i have direct debits that always clear, have a mobile phone contract on my name just after i was 18, working part time and earning a good wage. Told them "I don't expect some re-evaluation but i just feel a bit heart-felt if this is based on my age". My record is pretty spotless xD. I've built it up real fast in the 8 months I've been 18 and i have £500 credit limit on my Natwest and £500 with Capital One, both who happily accepted me a month after I turned 18. Let's hope Virgin do have some sympathy and evaluate it though xD

I hope you get the decision reversed by the way, but maybe they might say to themselves how much money are we going to make from a 18 year part-time worker who pays in full each month..

JasX

Do they actually read any apppeal letters? I'm convinced Halifax are either substantially incompetent or have a deliberate 'straight in the bin' policy for them.

My Experience: -Applied for a Halifax clarity rewards card in branch.

Home owner (4 years in, substantial equity from regular mortgage overpayments), 2 other credit cards (always paid in full, modest-ish credit limits) secure job with same employer for the last 6 years, main currrent account and mortgage all with Halifax/Lloyds banking group. Not a single black mark on my credit file.

Straight refusal.

Went and got copies of all credit files -found that one, Experian, had incorrect address info (missing a number from 2nd line of my address and had also tripped up on the electroal role register info because of it)

Wrote a polite to the point appeal letter pointing all the above out with reference to Halifax/lloyds account numbers I held in good order with them and evidence of my correct electoral role entry.

Outcome: Point blank refusal and bland 'we have reviewed your case and based on all the information provided consider you unsuitable for blah blah blah'

Refusal again.


My response:

Ignored all the usual advice given about repeat searches and I re-applied one month later but via the internet rather than in branch.

2nd Outcome: Immediate acceptance and card arrived the next week with an 8k credit limit.

I just assume they are all thoroughly incompetent....

(or that the first time they had worked out I was only after the free monthly £5 and they were going to make zero money out of me but i didn't think they were allowed to reject people because they might be 'unprofitable' and tell them they were a bad credit risk.....??? )

Other than that the other outcome is i'm now fairly keen to look to move my mortgage and current account away to another bank if an attractive offer appears (tied in till late 2011)

That'll hurt the shareholders..... which would be more amusing if the 'shareholders' wasn't actually all of us as taxpayers these days

*grumble /rant

chicken7777

star-fire wrote: »

I hope you get the decision reversed by the way, but maybe they might say to themselves how much money are we going to make from a 18 year part-time worker who pays in full each month..

Thanks, i'm not TOO fussed if i do or not, i mean if they did it would be good for them as i could put my mums money onto my card (balance transfer) which would be nice but i guess it just depends how much limit they give me. If they DO give me the card then i'll probably leave it on minimum payment but spend a little amount so hardly any interest xD. MBNA are a good company (mum has like 17 credit cards of which about 4 belong to MBNA directly xD) and they have always been very reliable so it would be nice to... plus mum seems to always get declined by virgin because she already has that many cards from MBNA so it would be nice to get one card at my age that she doesn't have xD. All of you thinking what my mum does with 17 credit cards... well if she needs to balance transfer & counts her limit going to about 90k if she ever wants to do a mad one when shes old.... lol bonkers i know but hey good luck to her xD my dad is on the opposite end of the table xD lets see what happens... i'll give it like 2 weeks before i check on it if i haven't got a reply?

P.S if they ask for more info i may add that i have a current balance in my natwest current account of 3k and 6k in my santander savings account (A)

Zack1

JasX wrote: »

(or that the first time they had worked out I was only after the free monthly £5 and they were going to make zero money out of me but i didn't think they were allowed to reject people because they might be 'unprofitable' and tell them they were a bad credit risk.....??? )

Interesting story, just to point out they do decline unprofitable people and the wording of the letters may or may not matter in terms of regulatory standards, but if you were told you were "unsuitable" then they've adequately covered themselves.

I got declined for a student bank account (fair enough, it's about 2k (up to 3k but nobody seems to get it) interest free overdraft). Strangely got accepted for the Reward Current Account and have been racking up the £5 monthly payments. Going to try again for the Halifax Clarity Card - see if I can get a fiver from that a month...

chicken7777

Dear Miss ******
Your Virgin Credit Card application reference: *********
Thanks for applying for a Virgin Credit Card.
We've had another look at your application and the information you've sent in. We're sorry but we still can't offer
you a credit card.

Thank you for your interest.

signed some Patricia woman with an electronic signature. I got this by email.... glad they make an effort for their future customers xD.

sidhaarthm

never-in-doubt wrote: »

This thread has been created to offer a standard template, used to appeal a negative decision by a lender; for example a credit card decline letter.

It doesn't matter if you have a default or several searches, for the sake of a little 'tweaking' and cut/paste you could be pleasently surprised when the lender actually considers your appeal in a favourable manner.

---

Hi NID,

I have specially signed up to MSE Forums to type this message.

I was recently declined for Lloyds TSB Avios Duo Credit Card (applied 13 Jan, received declined letter 18 Jan). Based upon your template, I appealed the decision and provided enough information including payslips, bank statements, passport/DL copies and last 3 month CC statements from my existing cards. My appeal package was received on 24th Jan, sent using Royal Mail First Class Recorded Delivery. Today I casually called up to check on the progress and I was told that my appeal was successful and the initial decision has been overturned. I should receive my card sometime mid week!

I would sincerely like to thank you for the very informative and encouraging 'Declined Appeal' post. If you want me to narrate my story on another thread, let me know and I would happily describe my circumstances and appeal process (along with the letter I used).

Many thanks,
SAM

chanz4

he aint here no more

blacksta

I think appealing is waste of time - the success rate reading from this site is under 10%

chanz4

tesco worked for me, but I didnt use a template like this (seen millions of times)

giblet10

Do you know what, I now view those searches not as wasted, but as an appeal opportunity! I've got two I'm going to appeal tomorrow and a third that I'm waiting on (might say, might say no!).

I love the MSE forums - turn a negative to positive!

For ref:

- Cap One and Tesco going to appeal
- Nationwide might say no - got a good 15.9% rate and £4500 limit on their soft search but was referred for further checks...so assuming a no..