Why can't I get a credit card?

sappleton

Before I explain my situation i'd just like mention that my only debt is a £1500 overdraft left over from university which never goes over. I am 25, I work full-time and have never had a credit card. A year ago I finished paying off a 2 year loan which was always paid back on time each month. My overdraft fees are also always paid back without a problem. I bank with HSBC

Back in November I applied for a credit card with HSBC and they offered my a £3,000 credit card. I then saw a better offer at the time with barclays so applied for that too and was refused. I then went on to apply for 2 more cards (ones I knew didn't need a high rating) and was refused these too. So I went back to HSBC and asked if I could have the £3,000 credit card and they refused, not even offering me a card with a lower borrowing rate.

Why am I being refused all these cards? Is there any companies that would consider me?

Innocent_Guy

Please see this thread

http://forums.moneysavingexpert.com/showthread.html?t=1626277

Innocent_Guy

And also

http://forums.moneysavingexpert.com/showthread.html?t=1656831

Innocent_Guy

Please let us know how you get on

Thanks

I_G

Typhoon2000

Being continously over drawn will also suggest to credit card companies that you may not have any spare cash to be able to keep up with repayment.

sappleton

Theres too much to read from those links above, I'll get nowhere...

Just wanna know, should do any of the following....

1) Appeal the HSBC decision from last November
2) Re-apply for HSBC for credit card
3) R-apply for a different credit card more likely to accept
4) Wait till at least 6 months after the last application has passed then do one of the above?

Typhoon2000

4) and maybe 1) as it doesn't cost anything in terms of your credit rating.

Edited to say it doesn't cost anything..

sappleton

Typhoon2000 wrote: »

4) and maybe 1) as it does cost anything in terms of your crdit rating.

do you mean doesn't?

aldino

I don't get it - if HSBC offered you the £3k one in the first place - why did you not just get that? And then apply for the other one later?

chattychappy

Sounds like the OP originally just got through on the credit rating, but that application and subsequent applications knocked the score back a bit and just enough for HSBC to refuse now?

b3nton

I'm in a similar situation.
Thanks for recommending those threads. Interesting reading