Appealing Tesco Credit Card Decision

CatB_2

I was declined for the Tesco 0% credit card deal at the weekend.

I had a look at my credit report and it's my own silly fault - I have just bought my first flat and rather than get out one credit card with a high limit I used the store 0% finance deals to spread the cost and consequently made 3 applications for credit within 3 months (totalling less than 2k) - I had no idea that would hit my credit score so much worse than one big loan.

I can afford the repayments on the card for the amount I want and when I took out the last finance deal I had the guy looking at his screen in the credit check said it was offering me 5k (of which I am using £800!). Everything else on my credit report is green, no missed or late payments no unused credit cards, dodgy linked addresses or people - even the guy at Experian said my report all looked good except the number of applications.

I called Tesco to explain and it was suggested that I submit an appeal. I've sent off all the paperwork but was wondering if anyone else has been through this process and whether I have any chance of success.

Otherwise it's off to HBOS for my 'gauranteed' card but I'd like the Clubcard points and I need to make a decision soon or I'll loose the deal I've got on the kitchen.

ElkyElky

Many members to the forum have successfully appealed Tesco's decline decision. I was declined the card but later appealed and the decision was over turned.

CatB_2

That's good to hear - I wasn't sure if I was totally wasting my time.

Fingers crossed that Tesco are as convinced of my ability to meet the card repayments as I am!

ElkyElky

CatB wrote: »

That's good to hear - I wasn't sure if I was totally wasting my time.

Fingers crossed that Tesco are as convinced of my ability to meet the card repayments as I am!

No not at all, it's always worth appealing any lender so your application can be looked at by a human rather than a computer.

Just remember and send off a few months worth of bank statements, a credit card statement (if you have one) and anything else you might think would be relevant.

When I appealed, I sent off my credit report along with the information above.

CatB_2

Thanks - I sent off the bank statements for both my main accounts and my credit report (which is all nice and green).

I didn't think to include credit card statements, which would have been sensible - I should probably have held off on the credit report too as now I have given Experian more info they have found the details of an old credit cad that was always paid off and then closed, which might have helped to give me a longer history.

I'm hoping that Tesco take the view that since my available credit (including cards, overdraft and HP) is <10% my annual income and I'm using less than half of that, I'm not a big risk.

I just had the rejection letter from the original application and it says I was rejected primarily on the basis of my credit score so fingers crossed.

CatB_2

Just thought I'd post an update to say that I was accepted for the card with the 3k limit that I requested and it arrived yesterday so it does appear that they can apply human judgement to applications :j.

Now I've bought the kitchen it will be safely stashed out of harms way until it is paid off.

Thanks for the positive input.