They approved me for card then declined me ???

sundries

I applied for the virgin credit card. I phoned up and a lady said she would look at it while I was on the phone. She looked at it and said that she had approved it with a limit of £2,500 and that the balance transfer would go ahead in the next couple of days.

On 7th July I got a letter saying they had reviewed my application and were declining it because they use a credit scoring system and their own expereiince of customer accounts and if I wanted to challenge it I could and I could also look on experien.

So why would they change? Are they allowed to?

All I can think of is that I put on my recent application for an M&S card that I had blah blah income. On the virgin one I added/included the amount I get from direct payments (a social care thing where you get money to pay for carers and things like that). I hadn't put it on first one because I didnt really (and dont) know if it counts as income - does for some purposes not for others.
But I said this to the woman I spoke to when I phoned up. Admittedly she didn't seem to have a clue what I was going on about.

Does anyone else have experience of being accepted and then declined?

Bosie

There is another checking system National Hunter that may have stopped it going through because of different amounts of income being stated. It compares what you put down on applications! So if the Virgin was different to the M&S application?

There has been quite a bit on this subject on the forum, do a search on the ''forums'', top right corner.
Bo x

http://www.guardian.co.uk/money/2008/nov/15/national-hunter-credit-agency

_Andy_

sundries wrote: »

Are they allowed to?

Yes, they are.

never-in-doubt

To be fair; a change to income wouldn't flag a N Hunter marker unless coupled with other major changes at the same time such as an extortionate pay rise - so adding a few grand on your salary as the only change, since the last application, wouldn't flag anything up.

Regards to Virgin - I had this where MBNA told me on the phone that they will give me an account and then I got a letter declining me. I rung and asked why and got told the underwriters had overruled the womans overrule of the original decline!

Basically I could appeal but would pointless because an u/w had already seen it and said no.

They do seem a weird bunch in all fairness but the salary thing would not have made any difference to the outcome so pointless dwelling on that part of it.....

As Andy stated, any lender can withdraw an offer or agreement at any time and you'll notice a lot of cardholders are actually having limits seriously reduced at the moment as well - we're in a recession don't forget so borrowing is much harder than it used to be...

sundries

Well have called them and they confirm it wasn't anything adverse.
The lady on the phone had decided to give me £2500 rather than £2000 balance transfer and apparently that change brought up that I had just got M&S card - and there wasnt much repayment history (because it is on 0% interest so Im just paying minimum repayments).

very annoyed especially as I put on the original application that I had an M&S card