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Desperate: 2 CC applications rejected

Rachel_M_3
Posts: 7 Forumite
in Credit cards
Hi all,
I am a bit lost, since I had two CC applications rejected within the last week. First, I applied for a Lyods one that included 2 BA flights if spending £1500 within the first three months. Yesterday, I applied for the Halifax Clarity card, the outcome was unfortunately the same. I am earning £30.000 a year, have no loans, mortgages or any other debt. Anyone an idea how I can find out why I am not approved? Does it make sense to speak to the bank people directly to find out why I have been rejected?
Many thanks for your help,
Rachel!
I am a bit lost, since I had two CC applications rejected within the last week. First, I applied for a Lyods one that included 2 BA flights if spending £1500 within the first three months. Yesterday, I applied for the Halifax Clarity card, the outcome was unfortunately the same. I am earning £30.000 a year, have no loans, mortgages or any other debt. Anyone an idea how I can find out why I am not approved? Does it make sense to speak to the bank people directly to find out why I have been rejected?
Many thanks for your help,
Rachel!
0
Comments
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They should tell you the reason why your application(s) has been declined. Do you have any credit cards in your name? Have you checked your credit reports?0
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Your lack of current credit might be one of the reasons but also time at current address, time with employer, electoral roll. You should check your file with both experian and equifax to ensure that all your details are correct. Have you had any credit card in the past? If not then you will find it very difficult to get a mainstream card, maybe with your own bank, otherwise the other option would be to consider cards like Vanquis or Capital One but the interest are very high. Without having more details about your past credit history then it would be difficult to say....0
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Thanks for the feedback you gave me. I just recently checked with experian my credit reports. There is just my phone bill in this report
and the result of the payment was satusfactory. The only other thing that pops up is that I am in an on the electoral roll, and thats it.
I have a credit card for 3 years with HSBC, but I would like to have the one from American Express that allows to collect BA miles.
Is there a better chance when I go into a branch and apply there directly. Does anyone know in which bank I can apply for the card mentioned above.
Many thanks,
Rachel!0 -
Thanks for the feedback you gave me. I just recently checked with experian my credit reports. There is just my phone bill in this report
and the result of the payment was satusfactory. The only other thing that pops up is that I am in an on the electoral roll, and thats it.
I have a credit card for 3 years with HSBC, but I would like to have the one from American Express that allows to collect BA miles.
Is there a better chance when I go into a branch and apply there directly. Does anyone know in which bank I can apply for the card mentioned above.
Many thanks,
Rachel!
AMEX don't have branches. I suggest you deal with this one step at a time,- Contact the companies you were rejected with to find out the reason for the rejection
- Check your file with Equifax and Callcredit
- Bear in mind that AMEX are targeted towards people with greater credit histories, i.e. had several cards etc previously
- Once you have done all of this then you could look to apply elsewhere, however be careful, each application on your credit file is credit searched. Too many credit searches in a short period can affect your ability to obtain credit.
Best Regards
zppp0 -
From what you say the HSBC CC doesn't appear on your credit report?
If this is so then it's unlikely that anyone will give you a CC with benefits (airmiles, cashback, 0% deals etc) as these are usually reserved for people with very good credit histories that show satisfactoy credit card usage.0 -
Hi all,
I am a bit lost, since I had two CC applications rejected within the last week. First, I applied for a Lyods one that included 2 BA flights if spending £1500 within the first three months. Yesterday, I applied for the Halifax Clarity card, the outcome was unfortunately the same. I am earning £30.000 a year, have no loans, mortgages or any other debt. Anyone an idea how I can find out why I am not approved? Does it make sense to speak to the bank people directly to find out why I have been rejected?
Many thanks for your help,
Rachel!
If you don't have any active credit agreements at the moment this will be the reason you're declined.
No high street lender will lend you money if they can't see from your credit file how you are handling similar commitments at the moment and in the past.
If you don't have any debt or credit cards at the moment you will need to take out a sub prime card - one or two of the following:
Barclaycard Initial
Capital One Progress
Aqua
Vanquis
Once you have held one or two of these for a year or more, using the card and making payments on time, there will be something to go on re: credit history and credit account performance, when a high street lender does a credit check on you.
Good luckCashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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From what you say the HSBC CC doesn't appear on your credit report?
If this is so then it's unlikely that anyone will give you a CC with benefits (airmiles, cashback, 0% deals etc) as these are usually reserved for people with very good credit histories that show satisfactoy credit card usage.
Thanks again to all the people for their helpful comments. Unfortunately, that confirmed my intial doubts that I might be able to get an American Express CC. This comment from Clapton is quite interesting. You are right, those statements do not appear in my credit history. I had this HSBC card for 3 years, always paid the money immediatelly off at the end of the month. Is there somehow a possibilty that I can "force" HSBC so "publish" my history so that I can improve my credit rating?
Cheers!0 -
Not really, you can always make sure they ammend incorrect information but to add your information to a profile doesn't really have any set precedent.0
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Btw which charity card did you apply or with Halifax? One requires the Ultimate Rewards Bank account and if you dont have that you will automatically be declined even though it won't alert that to you in the proccess of the application (which halifax is reknown for).
The all in one card is the best mainstream card i would have advised you to apply for tbh (with Halifax) but now that is something you should hold off on.
Lloyds are incredibly conservative lenders and these unless you generally have other services with them (and then they let you know as and when you are elligable) it is very unlikely you will be approved. Given they now own HBOS, perhaps they may have intergrated their scoring systems by now, which may explain the refusals lately for Halifax cards and tougher criteria to meet. I'll check on that and get back to you...
Don't worry too much about the HSBC info at the moment, there could be more simple reasons for the declinations. If the above reasons (criteria) are a reason, then just sit tight and re-apply in a few months, as your incomce does meet the Amex threshold for CC's and you are a homeowner. Don't make anymore applications for now, as too many will mess up your file completely.
If however you need the credit immediately, then it is a different matter i guess...(though dont be too "desperate" as indicated by your title - your finances look in good shape.)
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Thanks for getting back to me Curt. Unfortunately, I am not a homeowner, I am renting and as I do not have to pay any bills myself this also does not show up in the credit report. As I am travelling quite a bit, I would have liked to have the American Express card to collect BA airmiles and the Halifax Clarity Credit card which should give you good exchange rates when abroad. So the question is now, should I just wait 6 months until my last declined credict card applications disappear from my credit report or should I try to apply for a basic one that allows me to build up a good credit rating.
Or do people think I will be more successful when going to Halifax directly and applying for a card, maybe even opening an account at the same time?
Many thanks!0
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