Help please? Am being turned down for new credit cards despite A1 rating?

osusana

Hi all - as the title says. I am currently trying to get a credit card and am consistently being turned down.
Up until January this year I was never turned down for any that I applied for. I have now been turned down by 5 lenders and referred to Experian to check why. Alarmed I got my credit report and it is fine - never defaulted on payments, no late payments. I did have trouble wading through this but can find no reason why I am now being refused?
I have a mortgage and a loan - no problem (obtained 3 and 1 year ago)
I have two cards at the moment - no balance on one and a large one on the other, again - no missed payments.

Can anyone explain why this may be?

YorkshireBoy

osusana wrote: »

Can anyone explain why this may be?

The lenders who are turning you down perhaps? Have you asked them?

What about...

Electoral Roll...are you on it?
Financial Associations...any bad ones?
Debt/income ratio too high
Used/available credit ratio too high

iamana1ias

YorkshireBoy wrote: »

The lenders who are turning you down perhaps? Have you asked them?

What about...

Electoral Roll...are you on it?
Financial Associations...any bad ones?
Debt/income ratio too high
Used/available credit ratio too high

Not to mention 5 searches on file in 6 months.

YorkshireBoy

iamana1ias wrote: »

Not to mention 5 searches on file in 6 months.

Will possibly have affected applications 3,4 & 5...but not the first 2?

osusana

YorkshireBoy wrote: »

The lenders who are turning you down perhaps? Have you asked them?

What about...

Electoral Roll...are you on it?
Financial Associations...any bad ones?
Debt/income ratio too high
Used/available credit ratio too high

Yes
No
Possibly? (but how would they know, not asked for mortgage details?)
Possibly - how can I find out what the acceptable ratio is?

iamana1ias wrote: »

Not to mention 5 searches on file in 6 months.

I asked about that with one lender and they said this was not relevant

I have asked and queried and am often stonewalled with "we don't know why"

I have huge equity in my house - so maybe I'll just have to go that route

YorkshireBoy

osusana wrote: »

Possibly? (but how would they know, not asked for mortgage details?)

The mortgage details will be on your credit report...aren't they?

Possibly - how can I find out what the acceptable ratio is?

You can't!

I have asked and queried and am often stonewalled with "we don't know why"

Frontline CSAs won't know, so ask an underwriter. I assume you didn't appeal any of the decisions?


Just out of interest, who were the lenders who declined you...and in what order did you apply?

iamana1ias

osusana wrote: »

Possibly? (but how would they know, not asked for mortgage details?)

It's on your credit report

osusana wrote: »

I have asked and queried and am often stonewalled with "we don't know why"

That's because it's done behind the scenes in the computer system. The staff members don't get to see what meant you were declined.

osusana

YorkshireBoy wrote: »

The mortgage details will be on your credit report...aren't they?You can't!Frontline CSAs won't know, so ask an underwriter. I assume you didn't appeal any of the decisions?


Just out of interest, who were the lenders who declined you...and in what order did you apply??

Yes - sorry, it's lengthy and I was married until 3 years ago, so trawling through all my single as opposed to "financial associations" takes ages (btw - he is deceased so I cannot be linked to any of his debts since we split)

I appealed two decisions - Tesco - they then offered me a card with a credit limit of £500, which was not suitable. Post Office - they asked me to take in bank statements etc but I do online banking without statements and print outs are not acceptable (my bank would charge me to send 'proper' statements) so I chose to let that one go as well


Sainsburys and Tesco - last December

March - Post Office

Nat West and Virgin - just now

Ironically the loan I have is with Tesco and they keep asking me to borrow more!

YorkshireBoy

So you weren't declined by 5 lenders...only 3 of them declined you!

Where's your debt now. If it's with Halifax/BoS that may explain the Sainsbury's decision.

NatWest can be picky (in my experience, having been rejected by them).

Are you going to appeal Virgin?

osusana

YorkshireBoy wrote: »

So you weren't declined by 5 lenders...only 3 of them declined you!

Where's your debt now. If it's with Halifax/BoS that may explain the Sainsbury's decision.

NatWest can be picky (in my experience, having been rejected by them).

Are you going to appeal Virgin?

Thanks for your help Yorkshire boy - I was declined by the other two until I appealed. I must admit to being sulky as I am so used to being accepted and being given huge credit limits that I don't want (and ask to be reduced)

Debt currently is with Tesco (loan) and Barclaycard - CC
My mortgage is with the Halifax
I was wondering if it may be because I am a card tart, always moving when interest free period is up. I have had many CC's before - including a Sainsburys one.
I used to have a Virgin card (around 5 years ago) but don't really like MBNA, they were my application of last resort - I need a long balance transfer time as I want to get rid of the balance and am at the end of my Barclaycard time.