Getting rejected for Credit Cards...(new home owner)

mjgreen

Hi all,

My wife and I have just bought our first house, we completed about a week ago.

I have always had Credit Cards and have happily 'tarted around' transfering my balance with no problems....I have never previously been rejected for a Credit Card.

Anyway, my interest free period on my Halifax card expires soon so I wanted to transfer the balance (£2000) to the Virgin card. However Virgin rejected me. I was a bit worried as this had never happened to me, but I have had a Virgin Card in the past abd wondered if that was why I was being rejected.

However I just tried applying for a Nationwide card, and got rejected for that as well. Now I am worried about applying fopr anymore as my credit score might get a hammering.

Am I getting rejected because i have just got our first mortgage and my credit score has got really bad?

How long do I have to wait for it to improve if this is the case?

Thanks in advance

evanjonesaber

Before you do anything else, get a hold of your credit score report and have a look - that should show if there are any outstanding problems you need to look at. If all looks ok, try something like a flybe card, they can be quite good and easy to obtain.

Moggles_2

The move will temporarily disrupt your credit rating.

Lenders like stability, so best practice is to apply for credit facilities, where possible, before you move/change jobs/change banks. Being with the same employer, bank and current address for a while, all help when applying for market-leading credit cards. Basically, the longer you stay put, the better as far as your credit rating is concerned.

Also, if you're not on the electoral roll at your new address, you'll struggle to get any credit.

mightyma

mjgreen wrote: »

Hi all,

My wife and I have just bought our first house, we completed about a week ago.

I have always had Credit Cards and have happily 'tarted around' transfering my balance with no problems....I have never previously been rejected for a Credit Card.

Anyway, my interest free period on my Halifax card expires soon so I wanted to transfer the balance (£2000) to the Virgin card. However Virgin rejected me. I was a bit worried as this had never happened to me, but I have had a Virgin Card in the past abd wondered if that was why I was being rejected.

However I just tried applying for a Nationwide card, and got rejected for that as well. Now I am worried about applying fopr anymore as my credit score might get a hammering.

Am I getting rejected because i have just got our first mortgage and my credit score has got really bad?

How long do I have to wait for it to improve if this is the case?

Thanks in advance

Yeah for sure get a copy of your credit report. Hopefully once you have gotten onto the electoral roll at your new address it will sort itself out.

mjgreen

thanks guys.....where is the best place to get a credit report?

Any idea approx how long I will need to be on the electroral roll before I start getting accepted?

Thanks

Candystore

mjgreen wrote: »

thanks guys.....where is the best place to get a credit report?

Any idea approx how long I will need to be on the electroral roll before I start getting accepted?

Thanks

http://www.creditexpert.co.uk/