refused 0% and not sure why

spronk_2

Hello

Ive just tried to apply for the virgin money credit card and been refused but not really sure why. I have checked my credit report (not rating yet, had to pay £6 to reactivate the account so asking another £5 to see the rating was annoying) and it seems in order. Ive had two previous 0% cards and never had an issue. I owe under £2000 and a teant in common on a property with all the mortgage paid off. I work full time with a fairly reasonable salary however I have been on maternity leave for the past 8 months and spent the marjority of time in my overdraft though I never went over the limit. My partner (we are not married) however is not well loved by banks and has a fairly iffy credit record but this is not new and ive never had a issue before. I did notice on my credit it report that he was named as a financial association by my last credit card company.

I always though that it was only unauthorised overdraft useage that affected credit record and again I assumed my partners credit history wasn't affecting mine due to the fact I'd had previous 0% cards so I'm a bit at a loss as to what has happend? We have had a dispute with Virgin Media so I wonder if its a black mark against the address because of this, but again I assumed Virgin Money and Virgin Media would operate as seperate companies.

Any body got any ideas?

TheMysterious1

i think the financial association would affect you and the virgin media. it encompasses all credit related associations not just cards. also i read on another website something about being on the electoral register at your address. is this in order?

izools

Simples:

You are financially linked to someone with bad credit. The link could have been created after your last successful application? Creditors will rate you on the joint report information, not just yours.

The link may not exist on Equifax as fewer creditors bother updating them, so you may have luck with Barclaycard or Sygma Bank. Best to check Equifax first though (if you register for Equifax via Quidco you can bag £8 cashback for the free trial)

EDIT: Yes, Virgin Meda and Virgin Money are entirely separate entities.

withabix

You were about to be fleeced by Experian for £5 for your credit rating by the sound of things. It's worthless.

Experian are a bunch of crooks at best - they are in it to get money out of you and nothing more.

You don't need anything more than your £2 statutory credit report from each credit reference 'agency'.

There may be something bad on the records held by Equifax or CallCredit - have you tried them?


Equifax is free once every 12 months and you get the Quidco cashback every time. Much easier to cancel Equifax as well.

Ritchie74

Sure if you have any joint accounts then both of your credit histories will be viewed by the lenders. If you no longer have a joint account you can remove the association.

Don't waste your money on the score. It's meaningless. It's not the same score provided to lenders. Regardless, lenders create their own score for applications (and sometimes bureau score for other aspects of the account cycle, but this is not the one customers can pay to see).

basil1998

it goes by your address so your partner would be prop responsible. i had problems paying a credit card off and am always over drawn when me and my partner opened a joint bank account they would not give us a switch card to go with the account we could only have cash card so we have to pay cash for every thing when my partner asked why they said because i have out standing bills on cataloge and overdrawn with another bank

Ritchie74

basil1998 wrote: »

it goes by your address so your partner would be prop responsible. i had problems paying a credit card off and am always over drawn when me and my partner opened a joint bank account they would not give us a switch card to go with the account we could only have cash card so we have to pay cash for every thing when my partner asked why they said because i have out standing bills on cataloge and overdrawn with another bank

It stopped going on your address some years ago, lenders can only view 'same person' unless a joint account is involved. The reasoning goes ...
Mr and Mrs Smith have a joint mortgage, each is equally liable for the debt. Mrs Smith also has several CC accouts which she starts to miss payments on. From the lenders point of view, Mr Smith is now a higher risk borrower as his wife (they don't necessarily have to be married BTW) is in financial difficulties and therefore Mr Smith is likely going to have to pay more towards the joint mortgage or help his financially linked wife/partner with her debts.

izools

basil1998 wrote: »

it goes by your address so your partner would be prop responsible. i had problems paying a credit card off and am always over drawn when me and my partner opened a joint bank account they would not give us a switch card to go with the account we could only have cash card so we have to pay cash for every thing when my partner asked why they said because i have out standing bills on cataloge and overdrawn with another bank

Yes quite, credit scoring has not had a single iota to do with addresses since I started using credit, that over five years now; and I'm pretty confident they stopped associating address related credit histories much longer ago than 2004!!

spronk_2

Thanks everyone for the replies. Had a quick look on equifax and they dont have my partner listed as a financial association, so Im guessing that the fact that my partner is linked to me on experion might be the reason. This link seems to have happend with my last credit card according to experion. We've never had joint accounts because of his credit issues so would it be possible to remove the association (even thoguh we are getting married!)? Im now loathed to apply for another card in case it gets rejected again even though my 0% runs out next week, it would be interesting to know wihich providers checked which credit agencies!