Help Declined Natwest Credit Card

penny82_2

Hi

I have £4930 on a virgin card and £496 on a Barclaycard. I thought I would apply for a new one to transfer the balance.

I earn £1500 a month and checked my credit file before I applied and I have been declined. They said it was to do with my credit file and I am devastated.

I have never been declined credit before and I don't know how this will affect me in the future. Can someone please help?!?!?

digitalphase

Are these your only debts?

Do you have any missed payments, CCJs, defaults etc?

Are you on electoral roll?

Have you recently moved house, changed employers etc?

BugsyBrowne

digitalphase wrote: »

Are these your only debts?

Do you have any missed payments, CCJs, defaults etc?

Are you on electoral roll?

Have you recently moved house, changed employers etc?

Do you honestly think virgin would of accepted him/her if he won't on the electoral role,and also accepted him with a CCJ or default.NO

Look at your available credit you have,debt to income.

Gordon_Hose

star-fire wrote: »

Do you honestly think virgin would of accepted him/her if he won't on the electoral role,and also accepted him with a CCJ or default.NO

What if the OP moved house after getting the Virgin CC? What if the OP got defaults/CCJ's on other debts after they got the Virgin CC?

digitalphase asked relevant questions.

BugsyBrowne

Gordon_Hose wrote: »

What if the OP moved house after getting the Virgin CC? What if the OP got defaults/CCJ's on other debts after they got the Virgin CC?

digitalphase asked relevant questions.

Think it was pretty obvious that he did not get any defaults after he got the virgin card,because he/her checked there credit file b4 they applied.

penny82_2

Thanks for the replies, No I haven't move recently, or have CCj's, or missed payments and I am on the ER.

I am so confused as to why they have done this

I also work for I financial company so have to be careful for work

Gordon_Hose

star-fire wrote: »

Think it was pretty obvious that he did not get any defaults after he got the virgin card,because he/her checked there credit file b4 they applied.

Assuming the credit file was up to date, assuming the OP checked all 3 CRA's...

Don't assume anything until you get the full picture.

OP. if there's no adverse credit then I suspect you didn't meet their criteria, or your current borrowing totals to more than 49% of your yearly income. Lenders have obviously got a lot stricter for various reasons.

You could appeal the decision.

TaxPayingMug

star-fire wrote: »

Do you honestly think virgin would of accepted him/her if he won't on the electoral role,and also accepted him with a CCJ or default.NO

Look at your available credit you have,debt to income.

I don't believe for a second that not being on the Electoral Roll is as a major issue to obtaining credit that people think it is.

I almost 40 years old, and have NEVER been on the ER. I don't want to do jury service as i am very busy, and i don't want every tom, !!!!!! and abdul knowing my personal details (yes i know it's illegal but i will swallow the £1K fine if caught).

I have, for over 20 years, had zero issues obtaining mainstream credit.

I currenly hold:
Barclaycard Platinum - £17K limit (no balance)
AMEX Platinum - £15K limit (business use of around £2K per month)
Halifax Clarity - £9K limit - used for petrol and foreign currency

penny82_2

What will this mean for me going forward. I am trying to pay off the two cards so I have no debt but I am planning on changing my car soon. Would this affect that?

Will this now show that I am a higher risk? Sorry for all the questions but I am worried I wont be able to get credit in future.

I am going to appeal the decision, I have been told to send a copy of my credit file and three months bank statements.

stephane_2

Ok, you need to get real here, 1 decline application won't be the end of the world, many people with perfect credit history, low debt and very high income to get decline from time to time that does not mean that every lender will....1 search on your report won't do any damage whatsoever and other potential lenders will not know if you've been decline or accepted, they'll just see the search. It does not mean that you are considered as a high risk but simply that you did not meet Natwest criteria

digitalphase

star-fire wrote: »

Do you honestly think virgin would of accepted him/her if he won't on the electoral role,and also accepted him with a CCJ or default.NO

OP could have moved after they got the Virgin card. You can't just presume the OP's circumstances. There was no harm in asking the questions I did, just trying to help the OP.

star-fire wrote: »

Think it was pretty obvious that he did not get any defaults after he got the virgin card,because he/her checked there credit file b4 they applied.

Some people think that one late payment on their account may not be relevant, but of course this can have an affect on your report. I was just double checking.

Loose the attitude, it is not helpful.