BEEN DECLINED - Appeal Letter Template

giblet10

giblet10 wrote: »

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..

Well..Nationwide did indeed say no - credit score apparently. In the same week Metro said yes..so just goes to prove one bank is completely different to another..anyway, I sent my appeal in..

Still waiting to hear on the Cap One appeal but I have bad history with them from six years ago so assume a no..

wizzywig27

Can you send copies of bank statements or do they have to be originals?

j_trem

The letter did the trick. Got a rejection overturned. Thanks.

sistafromanothermista

Well done

blue-eyes1955

My son applied on-line for a Tesco Credit Card in September and was refused. We wrote to appeal but didn't get a reply. A month later sent a reminder with the original letter but still didn't get a reply. Another month on and I want to take it higher so that we at least get an acknowledgement of the letters even if it is another refusal. Anyone know who we should address the letter to. We've tried the head of credit card operations but as I say haven't had any response.

antispam246

Hi, I'm going ot use your template to appeal Amex rejection. It's second rejection over 3 years, I originally appealed the first one myself and included the majority of the information you have in your template, couple of things,

Would it be worth mentioning and providing proof of any existing savings, as say, a means of off setting any potential debts. Or for their benefit, proofing I can cover the wide range of financial accounts and services I hold that may be held against me?

Where I have many existing bank accounts or credit cards, is it necessary to provide information on each for the reason I'm holding them? or would just a few suffice?

Cluckers21

Hi!

Ive already posted my story in a thread I started but saw this particular thread and thought I might get some extra advice...

I applied for a £6,600 loan with tescos a few days ago and was declined. im a bit gutted as i was going to use this whole amount to pay off a current loan and credit card. the new payments are nearly £200 a month less and will be over a shorter period of time because of the lower APR.

The only other credit i have is my car loan which is on a PCP lease deal. I am in full time employment and never had any issues before, always paid on time and never missed any payments.

I know these application screens are automated and so i may not have fit into the criteria because they see it as me borrowing another £6.6K ontop of the £7.5k im trying to pay off. (I have been given a settlement figure on my current loan hence why i dont need to borrow as much to pay it off).

Does anyone think its worth appealing? to explain in more detail that its being used to wipe out my other two debts not add to them? it would be alot easier for me to pay off if im given this loan!

~Any advice is welcome

Thanks!

imoneyop

Cluckers21 wrote: »

Hi!

Ive already posted my story in a thread I started but saw this particular thread and thought I might get some extra advice...

I applied for a £6,600 loan with tescos a few days ago and was declined. im a bit gutted as i was going to use this whole amount to pay off a current loan and credit card. the new payments are nearly £200 a month less and will be over a shorter period of time because of the lower APR.

The only other credit i have is my car loan which is on a PCP lease deal. I am in full time employment and never had any issues before, always paid on time and never missed any payments.

I know these application screens are automated and so i may not have fit into the criteria because they see it as me borrowing another £6.6K ontop of the £7.5k im trying to pay off. (I have been given a settlement figure on my current loan hence why i dont need to borrow as much to pay it off).

Does anyone think its worth appealing? to explain in more detail that its being used to wipe out my other two debts not add to them? it would be alot easier for me to pay off if im given this loan!

~Any advice is welcome

Thanks!

I've just read your other thread and personally, I would say that (as highlighted on the other thread) you are so far away from the standard affordability criteria that you'd be wasting your time.

Also, they will have heard the "of course I'll pay off my other debt with your loan" line so many times and seen the exact opposite happen that if that is your only reason for appealing, it will get you nowhere.

YorkshireBoy

Cluckers21 wrote: »

...<snip>...

You've been given some good advice on your other thread. It won't be any different here! But...

If you do appeal, they'll likely carry out another credit search. You'll then have two very recent credit searches on your file, making you appear 'desperate' when you make an application to someone else.

You don't say what your income is (EDIT: You have now on your other thread. At £19K/annum it isn't going to happen!), but it'll need to be 'good' to get you around £14K of unsecured debt.

Why not try someone else, rather than flogging a dead horse? What about your bank?...the one that receives your salary and understands your financial situation better than anyone.

FeistyFidget

Well I applied for a virgin credit card last Saturday online and was outrightly refused

Slightly above average salary for my age - Experian and Credit expert ratings are excellent with no flags - home owner (mortgaged) with no late payments etc. Very, very miffed as no reason was given accept hinting that they checked my credit (which obviously doesn't add up).

So have fired off the email in the hope that my rejection is over-turned