Help Declined Natwest Credit Card

digitalphase

penny82 wrote: »

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.

Another company could still accept you, just because one declined you doesn't mean they all will

When I asked how much debt you have it is relevant, as if you have a lot of debt in relation to your salary, and or are maxing out your current limit, you would be considered a high risk.

penny82_2

Thanks everyone for you help, I called Virgin and transfered the balance from my Barclaycard. Once I have had a month without a barclay bill they have said i can transfer the whole balance back on 0% till July 2011 which should help me pay alot off before I have to apply for a new 0% card

stclair

penny82 wrote: »

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?!?!?

Did you check your experian and equifax report.

If your reports are squeeky clean you can always appeal.

The bank may think you have too much credit available to you in proportion to your salary.

penny82_2

Yes I checked both and nothing on them, I think I must have too much available credit as I have £14,200 between the two cards. The thing is I just wanted to apply for one on 0% transfer them both and close one of them so I still ended up with two. Never mind I have learnt, maybe I should ask Virgin and Barclays to reduce my limits, do you think this would help in future?