Turned down!

Suzanne_Louise

Hello! I have a 0% balance card with Virgin which is due to expire next month, so need to get another one! Did my credit check with Credit Expert, and my score is 999. Went to their recommended credit card tab, and applied to a Nat West Premium, but have been turned down! Is there any point in trying with another company, as I don't want my score to decrease?

nomoneytoday

IMHO The 999 score means little, as credit card companies use their own internal scoring.
I would apply for one more mainstream card, and then leave it a while if declined.
Alternatively what about your bank?

JohalaReewi

Not another got turned down for credit but my score is 999 post..... :j

Don't waste your money on the Experian/Equifax scores - they are meaningless (as you have found out).

DO read Martin's guide.
http://www.moneysavingexpert.com/loans/credit-rating-credit-score

bengal-stripe

The bank can see you have a 0% card (maxed out, I presume) which comes to the end of it’s promotional period. Why would any bank want to give you another 0% deal, Credit cards make money from interest.

Demonstrate your ability to pay back debts, not just accumulate them.

izools

Or if you have no adverse credit history give this one a go:

http://www.your-application.co.uk/netfinancecertegymicrosite/creation/Welcome.aspx?responseCode=DIR006

They're very lax with their credit scoring and I'd be surprised if you get turned down if you already have a card kept up to date

Bob_the_Saver

bengal-stripe wrote: »

The bank can see you have a 0% card (maxed out, I presume) which comes to the end of it’s promotional period. Why would any bank want to give you another 0% deal, Credit cards make money from interest.

Demonstrate your ability to pay back debts, not just accumulate them.

Common sense at last!

fozmcfc

bengal-stripe wrote: »

The bank can see you have a 0% card (maxed out, I presume) which comes to the end of it’s promotional period. Why would any bank want to give you another 0% deal, Credit cards make money from interest.

Demonstrate your ability to pay back debts, not just accumulate them.

Hold on how can anyone presume, that the Virgin card is maxed out from the OPs post. They might have transferred £2000 and have £1000 left on it to transfer for all we know.

People swap from card to card for years, before eventually they get refused, quite possibly because of having too much credit available from not closing down unused cards.

OP, if you are still about post your exact situation financially, credit available, credit used and annual income would give members a possible idea of why you might be refused.

isy1011

Nearly applied for that creation card myself to transfer Virgin balance onto and when I read agreement terms right at the end it said 0% on purchases for 3 months but 16.9% for balance transfers so thank fully I didnt click submit button. It said on its front page 0% for both.

Its not always a good thing to keep switching if you are not in the right state of mind to pay them off. I want to get my Virgin balance onto a 0% but got refused with RBS. However its no wonder really as I added up my current credit limits and they come to £29,000!

fozmcfc

isy1011 wrote: »

Nearly applied for that creation card myself to transfer Virgin balance onto and when I read agreement terms right at the end it said 0% on purchases for 3 months but 16.9% for balance transfers so thank fully I didnt click submit button. It said on its front page 0% for both.

Its not always a good thing to keep switching if you are not in the right state of mind to pay them off. I want to get my Virgin balance onto a 0% but got refused with RBS. However its no wonder really as I added up my current credit limits and they come to £29,000!

Not quite sure where you got that from it definately says 15 months on BT's and many have applied for the card and been accepted.

http://www.your-application.co.uk/netfinancecertegymicrosite/creation/Welcome.aspx?