No credit - as opposed to bad credit

d4j1nx

Hi folks,

I am having serious problems in obtaining a credit card.

In the last few months, I have applied for Capital One, Barcleys Card, Virgin Credit Card, Post Office Card, Egg and marbles and all been rejected.

Previous to this, I applied for Amex and Ulsterbank

I just applied for aqua on line tonight and got rejected

I also applied for vanquis tonight and am waiting.

I have checked my credit files using checkmyfile.

With equifax I am rated 2 stars
With Experion I am rated 3 stars
With callcredit I am rated 5 stars

I have never had a credit card in my life or been in debt at all, or have any of this CCJ stuff, bankrupcy etc.

I thought applying for a lot of cards is bad until I read this at checkmyfile:

There are two basic types of searches recorded on your credit file, a credit application search and an enquiry. Only credit application searches are seen by lenders, so that they can make an assessment of how ‘credit active’ you are. There are lots of myths about the problems caused by having several credit application searches recorded on your credit file. Certainly, many searches within an hour or two can indicate a possible fraud, and dozens in a month can indicate financial desperation, but up to about 12 searches on file in a year is perfectly normal and is expected. Very low levels of searches can tell lenders that you are not very credit active, so they may not be so willing to lend to you.

Can someone please please help me get a credit card!

Is it worth appealing against capital one?

AQUA-IAN

As it seems you have very little credit history - which Capital One credit card did you apply for? If you applied for the Platinum cards you need a good credit history for your application to be accepted. My advice to you would be to apply for the Barclaycard Initial or Capital One standard card. Pay on time each month and build up your credit history. Good luck.

d4j1nx

I applied for the Capital One Credit Builder card and the Barclay Card Initial already

lisyloo

Do you have a bank account?
Best idea is to ask your bank for a credit card.
They have their own records on you so are more likely to agree.
Then build up a credit history over time.

At the moment you have loads of searches on your file which looks bad.
You need to allow time for these to dissapear.

file_wizzard

The first thing you need to do is obtain your files directly from the three main Credit Reference agency’s.

http://www.experian.co.uk/consumer/index.html?order

https://www.econsumer.equifax.co.uk/consumer/uk/sitepage.ehtml?forward=gb_elearning_credit14

http://www.callcredit.plc.uk/consumer/order-your-report


whilst Checkmyfile are very professional and offer a good service they are not a CRA, and they can not obtain all file data ( specifically from experian)

therefore the only way you will obtain a true picture of the reasons behind these refusals is to obtain your reports directly.

At first glance it is very strange that Cap One, Aqua, and potentially Vanquis have declined you, this would suggest there is something deeper routed on your files i.e

Not registered at current address
Fraud flags at address
Linked data with another individual

The_Boss

d4j1nx wrote:

Hi folks,


I thought applying for a lot of cards is bad until I read this at checkmyfile:



Can someone please please help me get a credit card!

Is it worth appealing against capital one?

From experience, I totally dispute that. Last april, my score with Northern Rock was "high pass". I then had a search (for a current account) in June and 2 for credit cards in July, and when I had to get another Northern Rock search done the score had changed to "low pass".

Also, the only thing that seems to affect my Experian file is a search coming off. And as stated in Martin's article, some companies do use the Experian score.

Experian_company_representative

Bearing in mind only the lenders you applied to can reveal why they refused your applications, have you tried asking them? Although they are usually and understandably reluctant to give specific information about how their scorecards award points etc, they should be able to tell you the main reason for your refusal - their codes of practice certainly say they should do this. And if your application was refused because of credit scoring, you have the right under the Data Protection Act 1998 to have your application reconsidered by a person. Worth a go!