Identify the problem with my credit file.

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Hi All,

Got turned down for the Tesco Clubcard 0% purchases card last week. Not particularly bothered as it is not absolutely necessary, but want to prioritise how I sort out my credit file.

Currently on the electoral roll at my current address where I have lived for 4 months.

Bank Accounts: -
Nationwide FlexAccount - £300 in credit with a £250 Overdraft Facility
HSBC Graduate Account - £1250 overdrawn interest free with a £1300 overdraft (I think this may be the issue - am going to start repaying this next month)
Halifax Credit Card @ 12.9% APR - Paid off in full every month with a £1600 credit limit - Had the card for 12 months

No defaults/No missed-late payments

Salary 19k a year, have plenty of mobile phone contracts - all settled bar one on file.

I'm guessing it is just that Overdraft that is stinging me?

Comments

  • cooltt
    cooltt Posts: 852 Forumite
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    I'd say over commitment and too much un used credit.
  • lisyloo
    lisyloo Posts: 29,632 Forumite
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    I wouldn't agree with the previous comment at all. The amounts look pretty small to me.

    I have limits of £4K and £4.7K and just got accepted for £7K

    I would say your biggest problem is being in your address 4 months and I don't see what you can do about that short term.

    How long were you at your previous address?
  • BigAndy_79
    BigAndy_79 Posts: 569 Forumite
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    They accepted me and were unaware of the address that I had moved into, or indeed a previous address that I had lived at. I have always given them my folk's house address, you see, as I reckoned it to be safer to send Clubcard & savings statements there. Strange....
  • lisyloo
    lisyloo Posts: 29,632 Forumite
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    It's impossible to say.
    They might have some criteria e.g. min salary £20K, that you fall short of.
    Normally something as simple as salary is stated up front, but who knows what kind of rules they have in place or what their "target" customer is.
    There is really no way to know.

    All you can do it make sure you file is in order and you don't have unnecessary amount sof unused credit and keep up payments on time.
  • Mischa
    Mischa Posts: 104 Forumite
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    I have a Barclaycard Platinum which I got two years ago when they were doing a promotion, and I must admit, that card gets abused!! My sisiter, who is older than me, more sensible and earns more got rejected when she applied for the same last year, despite having a much better credit history! It's very strange how the credit card thing seems to work, I can't help but think it's luck of the draw in some respects! I applied to Vigin for a credit card as they were doing 0% on balance transfers for 16 months, but i got rejected! My friend Marisa was accepted. I was rejected because I have a £300 overdraft, of which I am never clear of!
  • Tixy
    Tixy Posts: 31,455 Forumite
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    Could be to do with the overdraft. Do you use the overdraft every month? do you ever get out of the overdraft? Lenders seem to being more cautious now with people who use overdrafts as a long term source of credit.

    Aside from that it then as said by others could just be that you are not their target customer, the fact that you pay off the hsbc credit card each month might make you not their target customer, as could your salary level.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • Jon_B_2
    Jon_B_2 Posts: 832 Forumite
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    I graduated last year with £1500 overdrawn in that HSBC account and was also £1500 overdrawn in the Nationwide account. Basically was out of the Nationwide overdraft within a couple of months, have just dragged my heels on the HSBC one purely because it is interest free. Now i'm saving £600 a month for the wedding in December, I have put back the repayment of the OD until Then.

    HSBC have said though that I will only have £1000 interest free from next month, so will pay off another £250 next month. Might start seeing if I can perhaps pay off £100/month for the mo.
  • cooltt
    cooltt Posts: 852 Forumite
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    lisyloo wrote: »
    I wouldn't agree with the previous comment at all. The amounts look pretty small to me.

    I have limits of £4K and £4.7K and just got accepted for £7K

    I would say your biggest problem is being in your address 4 months and I don't see what you can do about that short term.

    How long were you at your previous address?


    Are i see lisyloo you obviously work for Tesco finance and you know exactly why he's been rejected. So there you go don't bother asking Tesco just ask lisyloo.

    As you've posted plenty of useful as well as useless opinions on here, unless you know exactly what Tesco's lending criteria is your answer is no more valid than mine.

    Have a nice day.
  • CannyJock
    CannyJock Posts: 3,838 Forumite
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    cooltt wrote: »
    Are i see lisyloo you obviously work for Tesco finance and you know exactly why he's been rejected. So there you go don't bother asking Tesco just ask lisyloo.

    As you've posted plenty of useful as well as useless opinions on here, unless you know exactly what Tesco's lending criteria is your answer is no more valid than mine.

    Have a nice day.

    Maybe she just has a bit more experience in these things than you do ;)

    If you're going to spit your dummy out if people don't agree with you then you'll not last long on here.
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • lisyloo
    lisyloo Posts: 29,632 Forumite
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    edited 16 June 2010 at 9:01AM
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    Are i see lisyloo you obviously work for Tesco finance and you know exactly why he's been rejected. So there you go don't bother asking Tesco just ask lisyloo.
    Eh???? !!!!!!???
    Apparantly, I work for Autoaid, DVLA, insurance, Tescos???
    What is it with you people?
    Someone expressses a different opinion and if you don't like it you accuse them of bias rather than questioning whether they might have a point of view that's different from your own.
    and you know exactly why he's been rejected
    !!!!!!??

    Ok, let's have a look at my post number 5 shall we.

    It's impossible to say.
    They might have some criteria e.g. min salary £20K, that you fall short of.
    Normally something as simple as salary is stated up front, but who knows what kind of rules they have in place or what their "target" customer is.
    There is really no way to know.
    I honestly have NO idea what you are talking about, becuase what you have accused me of doesn't tie in with my posts at all. I can only assume you got out of bed the wrongside, or someon cut you up in the car????

    Or perhaps you can't stand someone having a different opinion to your own????
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