Rejected by Lloyds TSB...

deemy2004

They take into account
a. salary
b. total outstanding debt
c. total available credit

So if b is a high % of a and / or c then your likely to get a low credit limit.

Thus I don't entirely agree with the consensus that people should shut down dis used cards, as that would increasse your debt as a % of total available credit and technically be a greater credit risk. I'd guess that if you are below 50% on b & c then you will get a good credit limit. If your above then you will get a poor credit limit on your next card.

Gray0103

Just been rejected by Lloyds TSB Advance card, 0% for 12 months.

Have only 1 card with £1,600 on it, and earn £30K/year, just cant understand it.

Trying to get through to their C/S department to find out the reasons why.

Milky_Mocha

I've just applied for an Advance card (Lloyds TSB) a few minutes ago and am yet to be notified of success/rejection. I think it is extremely likely I'd be accepted as I have about 15k of debts, half of it at least a year old with good history of regular payments, £36k salary etc. (However your stories of rejection make me nervous I must add). My question is, I'd like to apply for a Sainsburys 0% on purchases for 12 months and I was about to do this straight away.

Do you think it is better to wait a while or is it better in my case to do it now. This would mean making two applications within minutes of each other. I'm thinking in the event that my Advance card is somehow rejected this would not affect my Sainsburys application as my credit file would not have had time to record the Advance card application.

Whaddyou think?

booogle

I was rejected for Lloyds tsb card some time ago, wrote in to appeal including bank statements & payslips and then got rejection overturned and a card with 7k limit.

deemy2004

Yep, apparently there IS a delay in the approved limits showing through, though the credit reports also include where an agency has made an inquiry though its not clear if this is shared with other companies when they come to check your credit history.

Milky_Mocha

Deemy, you're right. It's been only five days since I made the Lloyds application and already it's showing as an enquiry. I was hoping there would be no trace of the application for a while.

Mr. B - 2K? I wouldn't be very pleased with that as I need at least 5k to transfer my egg card which expires on the 21st of January. If they do that to me I guess I could appeal like booogle and hopefully have the credit limit increased.

I'll wait and see what happens

skiprat

Best of luck, Milky - I just received my first ever rejection after 22 years of using cards, etc. 'Thought I'd be a pretty safe bet ;
-Almost continuous employment since age 16
-Present employer for past 15
-Homeowner / married (with about £300k equity)
-3 other cards (credit= 5k / credit limit= 25k
-PAYE (not self employed)
-Salary £68-70k + small expenses

-Debts;- Car loan for 10k
-1 maybe 2 late (not missed) payments over last couple of years.
I'm going to get a report from experian to see what on earth is expected of me - What do they want? - Blood! ;D

Jen_Jen_5

I feel a bit better now, Lloyds tsb rejected me this week saying i didnt score enough on their credit score, i am like prev. post full time, homeowner, banked at same bank for years, little outstanding debt etc etc Never been refused before and only wanted to BT £3000!

As they credit score rather than credit check is it likely other CC's will refuse?

Is there a scam Ltsb are doing here refusing people who normally are accepted with no probs? Cant work out what they are up to?

monki_man

I've been refused enough times by Llyods TSB, Although they haven't explained why Im being rejected. Maybe because first of all I applied for a graduate account with them and got rejected then a couple of months later apply for their credit card. I'm not going to touch Llyods TSB card for ages now. Egg, virgin, Marble, Morgan stanley and citi welcome me with arms open.

Jen_Jen_5

they are a weird bank - had an account with them over 10 years ago and they just seemed to work to their own rules which have no similarity to any other bank!!