Rejected!!

loulybooly

Ok so i applied for the virgin card with the 0% interest for 16 months. I was rejected, I looked on here and it directed me to a website where i can see which credit cards suit me and most likely be able to get. Which were one two:
Capital on bank
vanquis

I also checked my credit rating...but that seems to be fine, only 3 late payments, and looked at a few car insurances, i dont see the problem with me getting this card. But I already have a credit car that i have never activated or used from a bank other than that its just phone bills and a loan, could it be that i havent done enough to boost my credit rating? Or simply be something like my age?

hax_2

I don't think Virgin will accept 3 late payments. That's probably why you were declined.

michael1983l

How recent were the late payments?

what is your available credit to used credit ratio?

are you on the electoral role?

Do you have a reasonable monthly slary with enough spare income once all the bills have been paid?

loulybooly

the alte payments were around january this year

i dont know what my available credit is...

yes i am on the elecroral role

and i have a decent salary haha

Are all credit cards that strict if thats the case?

michael1983l

Your available credit to used credit ratio is worked out by adding up all available credit

e.g. overdraft + credit card limit

then how much of that you use, if you are using over 75% of available credit then you are unlikely to get accepted anywhere outside sub prime atm. Also your January late payments are quite recent so a company like virgin will definatly say no.

hax_2

Your debt to income ratio is also important. If its more than 50% then that might go against you. I was declined an MBNA card when my debt to income ratio was a little under 50%.

loulybooly

thats this out the window then!! haha thanks guys! x