Declined - why, and what now?

funkymonkey849

I applied for a Barclays credit card in January and got declined. I've just had a look at my file on creditexpert and can't see any nasties.

This is what it looks like at the moment...

There are two searches showing up, both in January.
I have a credit card with £1000 limit, only using £34 at the mo - however when I applied it was about £800 used and making min repayments. I also have a £2000 overdraft (natwest grad account) which I don't use and I am in credit. All payments are on green, no missed etc

I've lived at current address 1 year 7 months, previous address 1 year 8 months. I'm on the electroal roll for the current and should have been for the previous but they spelled my name so wrong I don't think I was on it in the end lol

Why would they decline me? Can I find out why?

I currently wish to apply for a mortgage. Should I cancel the credit card I'm not usuing, or does it look better for me to have it? Should I wait to apply for a new credit card until after I apply for a mortgage?

thriftymomma

You need to check you files on equifax as well!

never-in-doubt

thriftymomma wrote: »

You need to check you files on equifax as well!

Especially cos Barclaycard use Equifax :T

funkymonkey849

Ah I need to check two?

vaporate

I would of thought Experian would be enough as this is the main one.

TheEffect

Barclays only check Equifax for Credit Cards usually, so if they declined you, it would be worth while checking Equifax as well as Experian.

never-in-doubt

vaporate wrote: »

I would of thought Experian would be enough as this is the main one.

Doesn't work like that! Each lender searches one, two or all three CRA's as they see fit and also depends what data (if any) they receive from their nominated CRA whether they stick to one search or more. Each lender is different.

Read here for details of who searches who: Credit Reference Agencies - Who Really Uses Who?! UPDATE

Read here for details of CRA's: Credit Reference Agencies

funkymonkey849

Oh right i didn't realise you had to look at two. Wouldn't the same information just be on them both?

never-in-doubt

funkymonkey849 wrote: »

Oh right i didn't realise you had to look at two. Wouldn't the same information just be on them both?

What part of my last post didn't you understand? Did you even bother to click the link I posted? You know, the one called Credit Reference Agencies

funkymonkey849

never-in-doubt wrote: »

What part of my last post didn't you understand? Did you even bother to click the link I posted? You know, the one called Credit Reference Agencies

Yes I did and I have checked both now and the same information is there on both so I still don't understand quite how it works, but not to worry - there's no nasties on either of them so I'm a bit confused about why I got declined.

I did click the link but I couldn't see anywhere where it said that there's different information held by both agencies. But I have taken it on board that different companies use different agencies, no need to be a knob about it.

never-in-doubt

funkymonkey849 wrote: »

Yes I did and I have checked both now and the same information is there on both so I still don't understand quite how it works, but not to worry - there's no nasties on either of them so I'm a bit confused about why I got declined..

I was pointing out that we'd said 3 times above that different agancies hold data depends who the lender is - then you asked the same question again, why is that being a knob? Its trying to guide you in the right direction as some people do miss posts.....

Glad you've grasped it though - best advice is to get all 3 credit reports then and only then will you know why you were rejected. If you're not on the electoral register then you'll struggle......... :beer: