tesco clubcard credit card - declined

mutty_hc

Hi all...

saw this card, 12months 0% purchases and clubcard points gained and thought it would be great to have it as my main card.

Basically I'm the sort of guy who pays off his cc in full each month, I have a car loan which I'm rapidly paying off, 2 ccs already that often just sit at £0.

On equifax everything is classed as 'satisfactory' and all my details seem correct on there.

I earn an OK amount of money - I'm a new teacher.

Yet, tesco rejected me. It said that my elidgibility didn't meet their criteria.

I'm wondering if anyone can shed any light on this for me and the ramifications of being rejected this cc.

Thanks,

Mutty

Tixy

You may possibly have been declined on a credit to income ratio.
How much is your total credit available to you (all your 3cards credit limits, an overdraft limits and the balance on your loan)?
How does that compare to your income?

broughton2010

It might be worth closing the accounts that you dont use. I am sure companies are aware of the % of credit being used by an applicant therefore if you have credit limits of 1-2k for example and they are sat at zero a company might see no profit in you. I have known people earning over 30k get rejected for cards with perfect credit.

karl10

i dont know weather its anything to do with age is it? I'm 21 and they have always refused me for the cc and my credit is perfect for my age i have a car loan which im paying ans a littlewoods account which sits at around £100.

mutty_hc

cheers for the replies.

I'm 24. I have 2500 credit limit from 2 cards and a 5k loan which will be paid off in 2 years. According to experien I'm on about 8k overall, since I have a littlewoods account from 2 years ago that I don't use - I should probably close this down I'm assuming.

Yes all I can think is its my credit to income ratio too, but does this make that more probable?

Cheers.

Tixy

From what you have posted then it seems that this might be your most likely answer.
If you are not using littlewoods anymore then I would certainly close the account.

Salz

Have you just moved house? If you are not yet on the electoral role for your new property, which can sometimes take a few months, you will get turned down by pretty much everybody.

enigma368

I got declined the Tesco credit card and I earn £36k with perfect credit and had a low credit to income ratio at the time.

The only possible reasons I could see for being turned down were:

1- I had only been in the UK 2 1/2 years (Im Irish)
2- I had only been in my new house 4 months ( I was def on the electoral register though).
3- I was 26 and a single male.

I suspect the most likely reason was number 3. is it possible that the Tesco credit card is aimed at Mums or people who are likely to do massive weekly shops, rather than single 20 something year old men?

mutty_hc

do you recommend that I also close down my nationwide credit card? Thanks.

noah271007

enigma368 wrote: »

I got declined the Tesco credit card and I earn £36k with perfect credit and had a low credit to income ratio at the time.

The only possible reasons I could see for being turned down were:

1- I had only been in the UK 2 1/2 years (Im Irish)
2- I had only been in my new house 4 months ( I was def on the electoral register though).
3- I was 26 and a single male.

I suspect the most likely reason was number 3. is it possible that the Tesco credit card is aimed at Mums or people who are likely to do massive weekly shops, rather than single 20 something year old men?

I suspect it is more to do with 1 and 2. You don't have a long credit history and also some lenders have policies that anyone living at current address for less than 6 months would result being auto declined.

Was your application auto declined online or referred?

enigma368

Auto declined I believe.