Amazon Credit Card Refusal

rashid

Hello Moneysavers,

I applied for an Amazon Mastercard just because i was able to get a discount on purchases but it was rejected for no reason.

I already hold an American Express platinum card since 5 years and also a Halifax One credit card since 6 years.

I have moved around a bit, moved to Manchester in 2006 then back to Surrey in 2009 with my family then moved out on rent again in Surrey & still there.

This refusal is playing on my mind since i have had no missed deadlines not any other money problems so my credit file and ratings should be great.

How can I find out what's going on and why I have been refused? Would it be due to me moving around? I am even on the electoral register with my current address.

Your advise will be as always invaluable (or valuable I should say!)

Thanking you,
Rashid

lisyloo

so my credit file and ratings should be great

Moving about a lot isn't great.
Creditors will know that if you default they might have difficulty tracking you down.

You will not be able to find out the reason.
You can only look at your credit report and try to work it out.

Some companies do not want good payers, they want debtors who pay loads of interest so being declined doesn't mean your credit is bad.
So you can be turned down if your credit is too good.
Some lenders have specific target profiles e.g. by income.

I know peple with near 6 figure salaries and good credit records who've been declined.

Most likely I would say the issue is moving around.

BugsyBrowne

It would be nice to know how exactly credit card companies score applicants,it make you laugh really you get declined for having bad credit history,but also you get declined for having an excellent credit history..

datostar

It might be that because you're running an Amex Platinum Card with a £300 annual fee and no pre-determined spending limit that has to be paid off every month without fail, they think you're too wealthy for them to make any profit out of you.

lisyloo

It would be nice to know how exactly credit card companies score applicants

You won't ever find out.
If people knew how the scoring worked then they'd lie on the forms or manipulate their history to fit.
It's supposed to be based on your real behviour and history not on you lying or modifying it to pass a test.
Therefore it's treated as secret.

People are still trying to modify their behaviour of course, but it's largely based on guesswork.

Most reputable companies want people with good histories.
It's only a few less reputable companies that want to take advantage of debtors.

bunny71

rashid wrote: »

This refusal is playing on my mind since i have had no missed deadlines not any other money problems so my credit file and ratings should be great.

How can I find out what's going on and why I have been refused?

You should have had a letter in the post telling you why you were declined.

I've also just been turned down for an Amazon mastercard and an automated phone message told me a letter is apparently in the post telling me why.

I'm just as baffled as you as I've had both a credit card and mail order account for 15 yrs which have always been paid in full and on time, and a bank account for 20+ years which has never once gone overdrawn or missed a DD payment.... I've never been charged on any of them ever. Meanwhile, the bank I have my ISA with keeps trying to flog me their credit card which I'm not interested in because there's no cashback.

Pffffft....their loss! We're obviously too good for them.

Edit: Just came across this thread which implies MBNA are rejecting Amazon mastercard applications to people with good credit ratings. This is disgusting if it's true because a rejection negatively affects credit rating!

paulmcerlean

bunny71 wrote: »

You should have had a letter in the post telling you why you were declined.

I've also just been turned down for an Amazon mastercard and an automated phone message told me a letter is apparently in the post telling me why.

I'm just as baffled as you as I've had both a credit card and mail order account for 15 yrs which have always been paid in full and on time, and a bank account for 20+ years which has never once gone overdrawn or missed a DD payment.... I've never been charged on any of them ever. Meanwhile, the bank I have my ISA with keeps trying to flog me their credit card which I'm not interested in because there's no cashback.

Pffffft....their loss! We're obviously too good for them.

Edit: Just came across this thread which implies MBNA are rejecting Amazon mastercard applications to people with good credit ratings. This is disgusting if it's true because a rejection negatively affects credit rating!

No you'll get a letter telling you you have not met the required credit score to check your credit file, which for any good applicant who is not sure why he/she has been turned down is useless.