Sainsburys Credit Card

gtaz

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I have just applied for a Sainsburys Credit Card, I was rejected with the reason:

'I regret to inform you that after careful consideration your application has not been successful on this occasion.

We, like many other financial organisations, have our own unique scoring and underwriting criteria, which are used to assess each customer’s application.
Unfortunately, on this occasion your application has fallen outside of our standard criteria, and as a result we're unable to offer you a facility with us at this time.

You can be assured that this decision was in no way based on any adverse information located on your credit file, and will not have a negative effect on your future credit rating. '

Does this mean I was credit checked? Would it be safe to apply for another Credit Card? I am a bit confused because I pass all the criteria they advised beforehand and my credit rating is good.

Cash_Flow

gtaz wrote: »

I have just applied for a Sainsburys Credit Card, I was rejected with the reason:

'I regret to inform you that after careful consideration your application has not been successful on this occasion.

We, like many other financial organisations, have our own unique scoring and underwriting criteria, which are used to assess each customer’s application.
Unfortunately, on this occasion your application has fallen outside of our standard criteria, and as a result we're unable to offer you a facility with us at this time.

You can be assured that this decision was in no way based on any adverse information located on your credit file, and will not have a negative effect on your future credit rating. '

Does this mean I was credit checked? Would it be safe to apply for another Credit Card? I am a bit confused because I pass all the criteria they advised beforehand and my credit rating is good.

You would have been credit checked.

That said, unfortunatly you don't meet the required criteria;)

JA1000

Yep - check your file you will see a search, standard reply though.

TFD_2

gtaz wrote: »

my credit rating is good.

How do you define good? What makes you think it's good?

Sainsbury's disagree - your credit rating with them is not good.

gtaz

I am on £20kpa, have never missed a payment on anything in 5years (since I turned 18 and got credit), including 3 credit cards, 1 which has been settled, finance for a TV which has been settled, my bank account, have had multiple mobile phones and I only have 2 open now. Never been rejected for anything.

I guess the reason could be I have £2500 balance on a £3500 limit CC and £0 balance on a £4000 CC (which is running out soon on the promotion 0% interest). Is £7500 credit too much so far considering I only use £2500 of it?

I mean good credit in the sense that I have never been rejected for anything or missed a payment on anything.

The eligiblilty criteria they specified was:


You're eligible to apply if you:

• Have a permanent UK address
• Are over 18 years of age
• Have not been declined credit in the last month
• Do not have a history of bad credit
• Are not an existing Sainsbury's Finance Credit Card holder

I tick all the boxes.

When they specify it won't have a negative impact does that mean I can apply for another ok?

gtaz

Just want to point out that I am not posting with disbelief I got rejected, was just wondering if people think it would be ok to apply for another card because it confused me with what they wrote because surely a rejected application would affect my rating?

TFD_2

gtaz wrote: »

Just want to point out that I am not posting with disbelief I got rejected, was just wondering if people think it would be ok to apply for another card because it confused me with what they wrote because surely a rejected application would affect my rating?

My point is that there is a big difference between good credit history and "nothing bad" credit history. Lenders, particularly recently, are looking for lots of positive information, rather than no adverse information.

Also any credit rating is determined by every individual lender, and their critera does vary.

There will be a record that you recently applied, but it's not marked on your file wheter it is accepted or declined.

If you haven't had any other recent credit applications, then you should be ok to apply elsewhere, but it might be worth getting hold of a copy of your credit file, just to check there's nothing adverse that you aren't aware of.

izools

gtaz wrote: »

Just want to point out that I am not posting with disbelief I got rejected, was just wondering if people think it would be ok to apply for another card because it confused me with what they wrote because surely a rejected application would affect my rating?

I think you should obtain a copy of your credit file before applying anywhere else. There may be a mistake, or information that you were unaware of / forgotten about affecting your application. There also may be other factors to consider, like have you moved address / banks / job recently? Have you had a lot of credit searches recently (credit cards, bank accounts, mobile phones, Cable TV, other utilities, etc all generate credit searches)? Have you opened new account(s) recently?

gtaz

I have checked it out and there is nothing that I can see incorrect.

All the accounts are showing settled that should be, I haven't changed job/address/bank and only had 1 search recently. Bit of a mind boggle!! Unless they just feel 7500/20000 is too much which I can understand I guess.

I just wanted a period of 0% interest for a car purchase as the Halifax APR is a tad high. I think I will apply for an Egg Card for the 0% Balance Transfer and do the purchase with Halifax card. If Egg reject me, I will just swallow the high APR and make much higher repayments.

What a pain!! Thanks for your advice so far everyone.

dylanuk

Is one of your other credit cards issued by Halifax then?

Sainsbury's Finance is issued by Halifax - so it could be that you've already got access to as much credit as Halifax are willing to lend you.

Just because it's in the criteria that you mustn't have a Sainsbury's Finance credit card - rather than a Halifax credit card, doesn't mean they won't look at how much you've got available with them already and if there isn't any scope for more could turn you down on that basis.

gtaz

Yes my other card is Halifax.

That makes sense actually, I couldn't find out who they issued by (like Virgin and MBNA) and thought they were a safe option.

I really hope that is the case!

Thanks for that, made me feel a bit better!