Declined vanquis card dont know why?

desperate-dan_5

Hoping someone can advise.Posting for my best friend I told her to apply for a vanquis card as I had read on here that it was a good one to start and get credit rating repaired.

She has two settled defualts for approx £500 each on her account with equifax and zero with equifax infact her rating with them is coming up as FAIR. So I said apply and she was declined? I dont know why?

She works full time and has a basic account with Lloyds well managed but no other credit. This is why she wanted to try and start to build it up.

Can anyone advise?

Thanks

stephane_2

How old are the defaults?

izools

And is she registered on the electoral role?

desperate-dan_5

She is on the electeral role and the last default was 2007 but I didnt think thy would boter about this as they give people with ccj's etc credit or so I thought?

desperate-dan_5

bother I mean sorry

izools

Vanquis work on a scoring system of "Chances of the debtor messing up again".

Example - me - many years of successfully managing credit without a single missed payment - followed by BAM loads of defaults and Bankruptcy... and then discharged everything all green flawless again for 10 months.

So in my instance, I've had a track record of brilliant credit, one year of the worst credit imaginable, followed by flawless credit again.

However someone who's never been bankrupt or had a CCJ or default, but has been in serious arrears both long in the past and in the more recent future shows a much greater risk of "continuing to screw up" and is less likely to be approved.

So in that sense, yes it is possible and reasonable for someone with a Bankruptcy order to to be approved and someone without to be declined, depending on the bigger picture.

desperate-dan_5

Know what u mean its all so complicated.

Someone said she may have been declined as she has no credit history as on experian the most widely used credit ref agency she just has bank account showing, no defualts and nothing else. However with equifax two defualts.

So she was advised to apply for main street card who only use experian and she was declined again.

Said I would ask the question as my advice was bad I felt gulity as I just thought most people would get one.

izools

Hmm. Seems odd then. Who are the defaults from?

It could be worth trying Capital One Classic (as long as one of them isn't the default :P )...

IMPORTANT - of course - how many times has she applied for credit in the last six months? As in really - as far as the credit agency sais?

desperate-dan_5

Applied for that one and then she applied for sainsburies as advised thy only use experian and was declined for that 2.

She said lots of searches on there from the credit ref agancy themselves for some reason as shr had problems accessing the site again, burt apparently lenders cant see these only the ones made by other lenders?

One of the defualts was wit her overdraft barclays bank and one was a mobile phone I think.

SUESMITH_2

i was turned down a few years ago for a sainsburys credit card but accepted for a capital one. trouble is the more applications you make the more searches will show

izools

I'd go for capital one classic.

Two searches will be fine.