Why was I turned down?

digitalphase

Applied for a Halifax credit card to do a balance transfer (small).

Got a letter from them saying my application hasn't been successful, but there is a passage a little further down saying that I can be assured that the decision is no way based on any adverse information on my report.

I am thinking the only reason could be CreditExpert STILL haven't updated my electoral roll information. Equifax have already.

What also annoys me is that Halifax searched my report TWICE. I rung them last week about it before they had sent me the letter, and they said they'd email the relevant department and get it removed.

I am annoyed because even though I chose not to proceed with a Natwest application, they still searched me and have sent me a letter saying I wasn't successful. I posted about this before, and obviously nothing more I can do. I think the electoral roll info has stalled this application as well. However I now have 3 searches within the last month, so it is stopping me applying to anyone else who searches Experian. Besides the electoral roll info, Experian is my better file.

So, I am wondering if I could appeal Halifax and or Natwest's decision? Does anyone know if it is possible?

Also, is there anyone who just searches Equifax who is offering a reasonable balance transfer rate?

stephane_2

It might just be that you did not meet the minimum criteria for the Halifax card, it could be because of income, time with employer, time at address etc.... They won't tell you. Have you recently checked your reports?
Barclaycard & Sygma cards only search Equifax and the Creation Credit Card from Sygma offer at moment 0% on balance transfer for 15 months and limit are generally reasonable

Gordon_Hose

Do you have any other credit accounts?

digitalphase

stephane wrote: »

It might just be that you did not meet the minimum criteria for the Halifax card, it could be because of income, time with employer, time at address etc.... They won't tell you. Have you recently checked your reports?
Barclaycard & Sygma cards only search Equifax and the Creation Credit Card from Sygma offer at moment 0% on balance transfer for 15 months and limit are generally reasonable

Thanks, I have been self employed for 4 months. Maybe that was the reason?

I have looked at the Sygma cards, but it says I need to be earning £20k a year and am not quite this much, and not in full time employment. So don't think I'll be eligible

digitalphase

Gordon_Hose wrote: »

Do you have any other credit accounts?

Yes, but they are all a year old plus.

I have a LTSB credit card and a Marbles credit card which I am looking to transfer balances over to the new card.

I have a Capital One card still open, but would cancel on getting a new card.
I have cancelled my Vanquis and Aqua cards, but they aren't showing as settled yet. Vanquis upped my limit to £750 (without asking) and Aqua is only at £250 because I hardly ever used it.

I have small balances on Very and Next.

Plenty of activity etc anyway.

Gordon_Hose

How much do you have on credit, and how much do you earn? If the credit equals more than 50% of your salary then that'll be the main reason you were turned down.

Brian64

digitalphase wrote: »

Thanks, I have been self employed for 4 months. Maybe that was the reason?

I have looked at the Sygma cards, but it says I need to be earning £20k a year and am not quite this much, and not in full time employment. So don't think I'll be eligible

Have you considered the sygma silver card 0% for 6 mths on bt. Don't need to earn £20k for this card accept part time so long as working at 16hrs per week

digitalphase

Gordon_Hose wrote: »

How much do you have on credit, and how much do you earn? If the credit equals more than 50% of your salary then that'll be the main reason you were turned down.

Experian says 32% of my total credit being used, if that helps.

Gordon_Hose

digitalphase wrote: »

Experian says 32% of my total credit being used, if that helps.

Ok, so that's not the reason. Then I can only guess it's your working situation. It might be that you haven't been doing your self-employed job long enough for them to be satisfied it'll be a long term income.

digitalphase

Brian64 wrote: »

Have you considered the sygma silver card 0% for 6 mths on bt. Don't need to earn £20k for this card accept part time so long as working at 16hrs per week

Thanks, not sure if this would be worth it as I'd have to pay balance transfer fees, then be back in the same situation in 6mths as this is a higher APR than my LTSB.

I think I'll try Barclaycard Gold, and try and appeal the other two. If not successful then I'll leave it, as 11% isn't that bad an APR anyway. 0% is better though :cool:

digitalphase

Gordon_Hose wrote: »

Ok, so that's not the reason. Then I can only guess it's your working situation. It might be that you haven't been doing your self-employed job long enough for them to be satisfied it'll be a long term income.

If I appealed it what would they want to see? Hard to find evidence as it is all web based work.