CARD REFUSAL :Excellent credit score, a thought

Moggles_2

I'll second that, Boss

Congratulations, Lollylou, on your successful credit card application!

It really doesn't seem fair that you do your best to ensure that all your cc's, loans etc all get paid on time and yet this doesn't always do you any favours.

I don't know where this notion has come from. Not from this site surely!

While it is true that applicants get turned down through no fault of their own (for instance, because an error has crept onto their credit file), it is certainly NOT the case that a perfect payment record "doesn't always do you any favours"

Paying bills on time, is the best way known to mankind, of succeeding with credit applications. To put it the other way, woe will definitely betide, if you pay late or miss payments altogether!

Moggles_2

I wonder if it could be that some of the people who are refused, apparently for no reason, have had no credit activity at all on their files, so are viewed as unknown risks?

Lenders certainly prefer customers with a credit history to those with no recent activity or no history at all.

It stands to reason that applicants with a credit file which demonstrates they can handle credit responsibly will be rated more highly than newcomers. After all, if you've not applied for a credit card previously, your ability to handle credit has never been put to the test.