Denied!

hedgehopper_2

Just been turned down for credit for the first time in my life! I couldn't get any sense out of Barclaycard's call centre (yup you guys weren't wrong there) so am now in the dark about why this should be. I'm pretty worried that this will be the case everywhere, as I really need a CC to make cashflow work through to next spring following an unexpectedly punishing house move.

Main reason I'm thinking is that I'm self-employed. Is this usually a problem? I earn about £25k p/a. I have, however, had CCs before with no trouble. I have been told repeatedly that my credit rating is exemplary, and am the type who has had a moderate amount of managed debt in the past (overdraft, card and bank loans, none outstanding) but has never defaulted and always paid off everything in full. The only recent checks that would have been done on me were for my mortgage.

Other than that, I have only lived at my current address 1 month. Any thoughts on which is likely to be the culprit and what (if anything) can be done? I CAN go back to my bank CC, but its APR isn't great and a 0% deal would have really helped me get over this hump

thanks all.

BugsyBrowne

hedgehopper wrote: »

Just been turned down for credit for the first time in my life! I couldn't get any sense out of Barclaycard's call centre (yup you guys weren't wrong there) so am now in the dark about why this should be. I'm pretty worried that this will be the case everywhere, as I really need a CC to make cashflow work through to next spring following an unexpectedly punishing house move.

Main reason I'm thinking is that I'm self-employed. Is this usually a problem? I earn about £25k p/a. I have, however, had CCs before with no trouble. I have been told repeatedly that my credit rating is exemplary, and am the type who has had a moderate amount of managed debt in the past (overdraft, card and bank loans, none outstanding) but has never defaulted and always paid off everything in full. The only recent checks that would have been done on me were for my mortgage.

Other than that, I have only lived at my current address 1 month. Any thoughts on which is likely to be the culprit and what (if anything) can be done? I CAN go back to my bank CC, but its APR isn't great and a 0% deal would have really helped me get over this hump

thanks all.

If your bank don't help you mate i am afraid living at your address for only 1 month will be the culprit defiantly if you say the rest of your credit report is fine.

Daisy_Duck

hedgehopper wrote: »

Other than that, I have only lived at my current address 1 month. Any thoughts on which is likely to be the culprit and what (if anything) can be done?
thanks all.

I would suspect that this is the likely culprit as you are not yet registered on the electoral roll. Even if you've sent the forms in it will take your council longer than a month to have you up and showing with the CRAs.
DD

chattychappy

Yep - agree with the above. If it is that, it just goes to show how primitive the system.

I wonder if posters might think this would be worth an appeal?

hedgehopper_2

chattychappy wrote: »

I wonder if posters might think this would be worth an appeal?

*nod* I'll be interested to find out.

MY main worry now is that I've damaged my record by doing this because I know that the guy who rented this place before we bought it had TERRIBLE debts. To the extent that we still get daily letters. Please tell me I haven't just associated myself with this idiot?

If it's a simple 'we only accept you after 6 months' residency' or something then that's not such a worry.

BugsyBrowne

hedgehopper wrote: »

*nod* I'll be interested to find out.

MY main worry now is that I've damaged my record by doing this because I know that the guy who rented this place before we bought it had TERRIBLE debts. To the extent that we still get daily letters. Please tell me I haven't just associated myself with this idiot?

If it's a simple 'we only accept you after 6 months' residency' or something then that's not such a worry.

No mate his debt has nothing to do with you whatsoever, TBH mate its 1 month of residency which is the problem.

lisyloo

Debts are associated with a person and not a house, so you should be ok there.

Yes short residency is an issue.
You need to get on electoral register and basically wait until you've been there a while.
I know it won't help the OP but for others reading, it's probably best to get credit sorted before you move.

candytwinkle

Totally agree same thing happened with me. Turned down for a credit card application about 1 month after moving but after being added on the electoral roll and living there for 4 months I just got a £14,000 bank loan Okayed.

Ralphy101

I had the same problem.

I played around with the Barclaycard pre-application check..

1st time) I entered my current address to which i was only living there 2 months - denied for everything

So i went back and put in my parents address to which i was living some 15 years

and low behold i was offered a Barclaycard Platnium!

hedgehopper_2

Seems that the address change is definitely the problem here. Most annoying as post-move is probably a time when many people find they need a bit more cashflow flexibility - very much the case for us as we had unexpected major problems with the house

What is the legality of putting another 'permanent', e.g. a parent's address on the application to get around this problem? My parents would definitely be OK with me doing this, but I don't want to do it if it's likely to get me or them into trouble.

BugsyBrowne

hedgehopper wrote: »

Seems that the address change is definitely the problem here. Most annoying as post-move is probably a time when many people find they need a bit more cashflow flexibility - very much the case for us as we had unexpected major problems with the house

What is the legality of putting another 'permanent', e.g. a parent's address on the application to get around this problem? My parents would definitely be OK with me doing this, but I don't want to do it if it's likely to get me or them into trouble.

Yeah see what your saying,but you might want to be careful if you put your parents home down as your home address, as you have already applied for a couple of cards stating a different address.

Should of really done this b4 you moved