Declined Credit Card with excellent credit rating of 999

Emmzi

sometimes they won't give you a card because they will not make any money off you i.e. if you clear your balance in full every month.

sometimes it as nothing at all to do with your credit worthiness and everything to do with profit.

jon_boy75

erm, have you tried applying for another card with someone else? 2 or 3 applications to find the best rate for you should be ok

confused.com will look for cards suited to your credit profile, by soft searching you and leaving no footprint

Matt227

I applied for a Tesco credit card and was turned down. I contacted Experian and obtained my credit report and rating. There were no red flags on my report and my credit score was 999. I contacted Tesco about this and was informed that I was turned down because I had only lived at my current address since Feb 09 - I'm in the Army btw and move around a lot. However, they then said that if I provide them a bill with my address on it and a copy of my driving licence/UK passport then they would be only to happy to provide me with a card.

I hope that helps!

Matt

mouseclick

Emmzi wrote: »

sometimes they won't give you a card because they will not make any money off you i.e. if you clear your balance in full every month.

sometimes it as nothing at all to do with your credit worthiness and everything to do with profit.

Yeah, I agree. I was just turned down by Natwest on credit score, and I have a 999 rating with Experian. Plus I have not missed any payments at all on anything, in well over a decade. I have over 60K of credit cards and around 25K debt at 3.9% APR. I was looking to get a long 0% balance transfer offer.

They asked me for 3 months bank statements if I "appeal". If I send these in, they will show deposits in excess of £25K over that period. I was not expecting the 25K... so I don't really need the 0% now, but it would be interesting if I sent the statements off to see what they say. Having said that, I am not sure I want them looking at my bank statements.

ILW

Sounds like a lack of credit history rather than bad credit history.

fozmcfc

mouseclick wrote: »

Yeah, I agree. I was just turned down by Natwest on credit score, and I have a 999 rating with Experian. Plus I have not missed any payments at all on anything, in well over a decade. I have over 60K of credit cards and around 25K debt at 3.9% APR. I was looking to get a long 0% balance transfer offer.

They asked me for 3 months bank statements if I "appeal". If I send these in, they will show deposits in excess of £25K over that period. I was not expecting the 25K... so I don't really need the 0% now, but it would be interesting if I sent the statements off to see what they say. Having said that, I am not sure I want them looking at my bank statements.

Well unless you are on £175,000 + a year, it could well be that you have too much credit available to you already. Nowadays, most lenders will lend upto 50% of your salary, so if you earnt £20,000 they would accept you having £10k worth of debt/credit available to you.

ukbill69

I had the same thing the other day, I went into my branch and they said the only reason they could see was because I didnt fund the account much.

Savvy_Spender_South

ugandandollars wrote: »

I have posted a letter to Halifax requesting further details of the criteria which I failed on. I realise they are probably not obligated to provide this information so am not hanging any hope on it.

I think they will respond.

As other posters have outlined, each main branch line nank hold their own referencing material and files. Under the Data Protection Act 1998, every institution is required by law to provide to you any information held about you upon reasonable request.

Further more, they hae 40 days in which to do so. it would be worth quoting this in any correspondence but track the time so you know if they are late in responding.

Word of caution, Banks in particular are good at deciding which information they deem necessary to release under this act, if at fist you are not fully in the Rembrandt, ask again. harder!:beer:

Savvy_Spender_South

fozmcfc wrote: »

Well unless you are on £175,000 + a year, it could well be that you have too much credit available to you already. Nowadays, most lenders will lend upto 50% of your salary, so if you earnt £20,000 they would accept you having £10k worth of debt/credit available to you.

100% agree, most entry level users should aim for total unsecured personal liability of no more than 25k. this includes loans, overdraft and credit cards. The Financial services ombudsman gets twitchy with banks who place debt availability on the shoulders of those with more than 25k potential. this is why persona loan rates are capped s such.

once your well into the 20 plus zone, its not impossible to get into the 70k capacity unsecured, but in these austere times, its rare.

Look at your totals, close out dead cards and accounts if possible.

Sub note, closing accounts allows you to take advantage of new customer only offers down the line.:T