Argh! Declined!!

devilstot

I used to have bad credit and a trust deed but I've worked really hard over the past 6 or 7yrs to fix this. The trust deed has been cleared for over 3yrs and no longer appears on my credit report. All accounts on my credit report, (of which there are only about 5) are now either 'settled' or 'satisfactory' and my credit rating is now in the 'excellent' category.

This morning I received a letter from Lloyds TSB declining my application for a credit card - the same letter I received from Tesco when I applied to them 2 months ago.

I can't understand why I'm still being declined for a credit card when everything looks so good with my credit now. Any advice much appreciated!!!

JohalaReewi

How do you know your credit rating is in the excellent category?
I hope you didn't pay for those useless credit scores from experian or equifax.

Anyway, just because you were declined doesn't necessarily mean it was due to your credit history. Perhaps, you just weren't the type of customer they were looking for.

Have a read of Martin's article...
http://www.moneysavingexpert.com/loans/credit-rating-credit-score?dd

devilstot

Yeah I check my credit score on Experian - is that not the right thing to use? The letters both say the same thing, that it was 'due to information from credit agencies and other information we hold on you'. I'm getting really frustrated with it.

KingElvis

Other information we may hold on you?

Have you done business with any of these companies or their group before?

devilstot

Not that I'm aware of, unless they have links to other companies I'm not aware of. Just tried the Barclaycard pre-application check, it said likelyhood of being accepted was 80-90%. Applied and was rejected for that too

mjm3346

If you had "bad credit" with them that can still be on their records even if it is not on your credit report.

mjm3346

devilstot wrote: »

Not that I'm aware of, unless they have links to other companies I'm not aware of. Just tried the Barclaycard pre-application check, it said likelyhood of being accepted was 80-90%. Applied and was rejected for that too

You are now probably in the "too many recent applications" refusal area.

KingElvis

devilstot wrote: »

Not that I'm aware of, unless they have links to other companies I'm not aware of. Just tried the Barclaycard pre-application check, it said likelyhood of being accepted was 80-90%. Applied and was rejected for that too

Have you given all the usual low end options a go? Vanquis, Aqua, Cap 1 Start?

If you have no credit cards already, you may be setting your sights too high?

Which Barclaycard did you apply for?

devilstot

The Barclaycard one I applied for was the credit builder one so I really don't understand it. Think I'll have to stop applying now or I'll have to many applications on my report.

KingElvis

devilstot wrote: »

The Barclaycard one I applied for was the credit builder one so I really don't understand it. Think I'll have to stop applying now or I'll have to many applications on my report.

Wait three months and apply for one of the above cards, have that for six months and you'll be in a far nicer place

devilstot

The above cards? You mean the ones I've already applied for?

Could it be BECAUSE all my accounts are being managed meticulously now that I'm being declined? Do they want me to be a higher risk to make them more money??