RBS/NatWest credit card

derbyman2010

Poosmate wrote: »

I applied for this earlier today and got knocked back. No reason given but they use Experian for their searches so am checking my file, when I get it.

I don't understand why I got knocked back, I believe my credit rating should be pretty good as I don't miss payments or make late payments, I'm on the electoral role and have been for the 15 years since I moved here. I'm a home owner and have worked all my life. I also earn 8k more than the minimum requirement of £10k.

The only thing I can think is that I put that I'd got 3 credit cards (2 of which have balances of less than £1300 combined - 1 with a low credit limit and the other with a £2.7k limit, so almost £2k available). I ticked the box for doing the balance transfer.

I spoke with an advisor online and he reckons I'll be sent a letter in the post regarding the decline.

It would be interesting to see how many people are actually accepted or if it's just a sales gimmick!

Poo

You've answered your own question here- too many credit cards! You might be better off transferring the balance of £1,300 to the credit card with £2,700 as your credit limit, pay off as much as you can and close the other two accounts. Wait six months and try again....

I bank with NatWest and they've declined me in the past... They approved me yesterday .

izools

derbyman2010 wrote: »

You've answered your own question here- too many credit cards! You might be better off transferring the balance of £1,300 to the credit card with £2,700 as your credit limit, pay off as much as you can and close the other two accounts. Wait six months and try again....

I bank with NatWest and they've declined me in the past... They approved me yesterday .

Three cards isn't too many by any means and as long as the total credit limits add up to under 33% ~ 50% of your annual salary then they won't consider affordability overcommitment a factor.

The OP will have been declined for some other reason

BillytheFish_2

izools wrote: »

Yes exactly. Everything from Natwest is an RBS product with RBS scribbled out and Natwest written on in crayon. Literally.

Thanks! RBS and NatWest pretty much the same then. Is there any advantage of one over the other or is it just the crayon?

izools wrote: »

Three cards isn't too many by any means and as long as the total credit limits add up to under 33% ~ 50% of your annual salary then they won't consider affordability overcommitment a factor.

The OP will have been declined for some other reason

It will be interesting to see how many get accepted and how many rejected for this one.

Davewils

I'l be applying for the RBS one in a couple of weeks. Just waiting for an old search to click over the 6 month mark. Then i'll only have 1 3month old search on my file.

My main concern is that whilst my total borrowing only equals about 1:5th of my income, my total credit used is at 77% and as much as i would like to get this down to 50% before making an application, its just not possible.