What To Do Next....

BigBadworld

After 6 long years I've finally managed to repair my credit rating, and, according to Experian, I have a "999 Excellent" Credit score.

However, I have been declined by two credit card companies, even though I have a Capital One and Aqua Card. My plan was to do a balance transfer onto a more favourable lower interest rate. I have also been declined by a loan company.

I'm now worried that I might have too many searches against me.

Can anyone advise me as to what I should do next? What can the bank/credit card company see that I can't.

Any help would be appreciated.

StuTheDon

Hi - they may be basing their decision on affortdability and not your previous credit history. I.e. if you income is not high enough compared to your current debts then they might fail you.

Can you advise salary and what the balances of your cards are as well as the credit limit and any other loans/mortgages you have?

Also, are you on the electoral register?

BigBadworld

Home owner, 30k, Both cards near limmit but not high balances £2000 ish, partner still has default on her, but not married, and applied in my name only,electoral register all good,£350,000 house with £220,000 joint mortgage ,no other loans.

StuTheDon

BigBadworld wrote: »

Home owner, 30k, Both cards near limmit but not high balances £2000 ish, partner still has default on her, but not married, and applied in my name only,electoral register all good,£350,000 house with £220,000 joint mortgage ,no other loans.

Hi there - I am afraid that it probably is affordability. Your mortgage is high as a multiple of your salary and you need to remember that, from a credit perspective, you are responsible for the whole mortgage amount in the event your partner goes Bankrupt or stops paying - not just half.

You also have 4k of credit card debt on top of this. All of this points to a high salary to debt ratio and I am sure this is why you are being refused.

~Brock~

BigBadworld wrote: »

Home owner, 30k, Both cards near limmit but not high balances £2000 ish, partner still has default on her, but not married, and applied in my name only,electoral register all good,£350,000 house with £220,000 joint mortgage ,no other loans.

The joint mortgage will have created a financial link between you and your partner, in which case her default may well be having an effect.

BigBadworld

Thanks for your advice guys,so even thougt our joint income is 50K as soon as she is seen on the app its a auto decline. and i dont earn enough on my own, its one big merry-go-round !! any one got £15000 they can lend me, LOL !!

StuTheDon

Hi - did your partner pay back the money she owed with the default? If so, you should ask for a letter from that company stating the defualt was settled. You can provide this to any company you are applying with and it can sometimes make a difference.

Good luck.

BigDave81

BigBadworld wrote: »

any one got £15000 they can lend me, LOL !!

Yes, no problem at all, My father King Abdul Wahleminger gave me money to come live in The Great Of Britain.

I can send you £25000 via Western Union no problem at all, just take what you think is a requirement and return the rest to me to my Western Union account.

I like to help, PM me details.... :beer::money::rotfl:

gemma1986

There is a way you can 'opt out' of third party information when applying for crdit. This means that the lender wont be able to see the details on your wifes report. This may help your application. Experian do give very unrealistic scores...they have 999 parties by the looks of things! LoL

duggie1982

BigDave81 wrote: »

Yes, no problem at all, My father King Abdul Wahleminger gave me money to come live in The Great Of Britain.

I can send you £25000 via Western Union no problem at all, just take what you think is a requirement and return the rest to me to my Western Union account.

I like to help, PM me details.... :beer::money::rotfl:

No problem, I would do this no problem contact me at [EMAIL="imadumbass@nigeriaismycountry.com"]imadumbass@nigeriaismycountry.com[/EMAIL]

Send me many many money i will refond you!

Kazipoo

Don't know how true it is, but I was told that companies may prefer people that may have trouble paying because ultimately they can make more money from them... you might be too good lol.