Seething Angry With Capital One

richessex

i held a capital one card for over a year(with a £200 security deposit held by capital one)
i kept the account up to date min payment was like £5 i paid £100 evey month
just over a month ago i phoned capital one to see about applying for a normal card
the chap said to pay off my balance and they would send the deposit back
then i should phone again and reapply for one of their classic cards
he claimed that there should be no problem as my account had been run exemplary
i paid the balance and they returned my secrity deposit
applied for new card
and guess what been declined

my credit history is better than it was last year
credit agreements taken out with 3 mobile and sky all paid on time
no further adverse credit
ccj i had settled during this year

the letter just gives the usual speak to experian and equifax and find out why
i regulary get copies of my credit file no negative changes there

phoned capital one got some robot who just said contact credit agencies and advised i could appeal against decision
and stated that capital one a few months ago stopped the security deposit scheme

questions now are

do they ever reverse decisions?

if they dont where next maybe vanquis but is that a guaranteed to get card?

:mad:

sofa_surfer

Thank you for the post. I was considering doing the same, but changed my mind now.

Milarky

richessex wrote:

i paid the balance and they returned my secrity deposit
applied for new card
and guess what been declined :mad:

How long after closing the account did you apply? I ask because you would need to leave a month (for the application to be processed) normally. It was not like 'upgrading' - you were going in a 'new' customer. This might have some bearing on their decision.

(I'd ask them and check on this point. If so you could 'appeal' on the grounds that you acted on CS advice - which was not completely accurate re. how they would process you)

richessex

probably was within the month
the chap at capital one said re apply as soon as you receive your security deposit back

shouldn't really matter though should it
never heard of the "month rule"

CIMA_LOVER

isnt it a SIX month rule?

Milarky

CIMA_LOVER wrote:

isnt it a SIX month rule?

For other companies yes, but Capital One is only a month. (They are stricter on other things though: Applications not accepted within six months of a previous one - so richessex is blanked out now unless he/she can appeal in the mean time. Existing customers can ask for a credit limit review - but not at any time within six months of a previous request. As I say, C1 seem a bit unusal in spelling all this out up front.)

Iona_Penny

I feel that a CCJ on your file (satisfied or not ) will affect your credit rating regardless of how well you maintain things now. I suggest you choose very car.efully if you plan to apply for another card. I have just got a mainstreamcard as my CCJ is no longer on my file, although was turned down only 2-3 months before it 'dropped off' I did however have a mobile phone contract and a Next directory card account.
p.s. Tesco is 8 months between applications

richessex

why didnt the bloke at capital tell me to wait a month if he had i would have left it

have written to capital one to appeal decision
will have to wait and see



what are my options if they say no regarding other cards

is it just vanquis or maybe barclays initial

sophiec_3

what was your credit limit richessex and what was your apr?

BONJOEY

yes it would be handy to know what your apr was with capitalone before you closed to re apply?

richessex

to be honest
i didnt have a clue of the apr
it was one of their guaranteed cards £200 limit/£200 security deposit

was just happy to be rebuilding my credit history
appears now waste of time

from some of the posts on here i noticed that people with previous credit problems and on benefits are being given cards

i earn just under 30k a year and still get refused

i suppose thats the price you pay for bankruptcy(disharged over a year ago)
thing is i pay everything on time now as i never wannna be in the situation i am in now again

is has taught me to be careful

i even have a couple of grand savings now(something i never thought id be able to say


have applied to aqua and vanquis just awaiting responses

if that dont work
god knows
perhaps prepaid card but dont see how that will help my credit file


whats annoying is that credit iv am running ok now (3 mobile, sky tv and my abbey account held for 13 yrs with debit card and chequebook) do not show on some of the credit reports

apologies for length of post
just stuck in a bit of a tunnel with no light at the end at the mo


will check out that apr and come back