Aqua Rejection!

EggsBenedict

So today I applied for my first ever credit card through my bank. I had signed up for the free trial with Experian and checked my report which showed nothing, but reminded me that I wasn't on the electoral roll and was using 34% of my available credit (whatever that means). I applied with my bank (Halifax) having finally given in to their constant suggestions and was rejected!

I came home today and applied for an Aqua card as I heard this was a good one to build credit, and they rejected me without even checking my credit report! What does that mean? Is it because they're both owned by HBOS? Is it all because I'm not on the roll and have never had credit? I have had some problems in the past with outstanding bills etc, but none of these appeared on my public records on my credit report.

I feel as though I barely exist in the world of finance. "What, you? Ugh, we don't even need to look at your credit file, just get lost!"

Does anyone have any advice? At all? I want to stop using my Halifax overdraft with its foul interest rates and get clear eventually...

Hax

Not being on the electoral role will cause you major problems if you're trying to obtain credit.

As for the 34% of used credit, that means that if you have £1000 of credit available to you, then you are using £340 of it.

The higher your "in-use" percentage, the higher risk you present to the creditors as it looks like you're already struggling.

My advice would be to wait at least three months until trying again and ensure you are at least on the electoral role before applying for any cards.

premierfella

Hax wrote: »

Not being on the electoral role will cause you major problems if you're trying to obtain credit.

My advice would be to wait at least three months until trying again and ensure you are at least on the electoral role before applying for any cards.

x2 - not being on the electoral role raises your risk profile to credit providers for a number of reasons, not least of which being the possibility that you do not really permanently reside at the address and may "disappear" when they come chasing an unpaid debt. I really wouldn't expect any institution other than one offering "loan shark" rates to provide credit to someone not on the electoral role (i.e. APRs signifcantly in excess of even Vanquis/Aqua card rates).

richard9991

EggsBenedict wrote: »

So today I applied for my first ever credit card through my bank. I had signed up for the free trial with Experian and checked my report which showed nothing, but reminded me that I wasn't on the electoral roll and was using 34% of my available credit (whatever that means). I applied with my bank (Halifax) having finally given in to their constant suggestions and was rejected!

I came home today and applied for an Aqua card as I heard this was a good one to build credit, and they rejected me without even checking my credit report! What does that mean? Is it because they're both owned by HBOS? Is it all because I'm not on the roll and have never had credit? I have had some problems in the past with outstanding bills etc, but none of these appeared on my public records on my credit report.

I feel as though I barely exist in the world of finance. "What, you? Ugh, we don't even need to look at your credit file, just get lost!"

Does anyone have any advice? At all? I want to stop using my Halifax overdraft with its foul interest rates and get clear eventually...

Get on the electrol roll aqua is one of the harder sub prime cards to get cap1 and vanquis much easier to get similar aprs ok as long as you pay off in full each month.

sveika

I am not on electoral roll either and was refused credit card for a couple of times. But I was offered a pre-approved Halifax credit card after I've been with them for just over a year.

OH was refused by Halifax credit card a while ago but was offered a pre-approved Barclays credit card soon afterwards. The interesting point is, he even nearly forgot that he still had a Barclays account! The balance left in his Barclays bank account was really just minimal.

Don't quite understand how it worked...

So you might just want to wait and see:-)

Experian_company_representative

There is no such thing as pre-approved credit in the UK because here lenders can only carry out a credit check with your permission. You can be selected as the general type of customer they are looking for but you will always have to satisfy their credit scoring if you do apply.

Being on the electoral roll is important for creditworthiness. It is also the law, if you're eligible. If you contact your local council now you might still be able to get on their electoral roll in time for the 1 December new registers, which are usually updated with the credit reference agencies within about three weeks.

James Jones

ElkyElky

Experian_company_representative wrote: »

There is no such thing as pre-approved credit in the UK because here lenders can only carry out a credit check with your permission. You can be selected as the general type of customer they are looking for but you will always have to satisfy their credit scoring if you do apply.

Being on the electoral roll is important for creditworthiness. It is also the law, if you're eligible. If you contact your local council now you might still be able to get on their electoral roll in time for the 1 December new registers, which are usually updated with the credit reference agencies within about three weeks.

James Jones

Being on the electoral roll may assist in helping one obtain credit however I wouldn't agree with it being "important" for one's credit worthiness. I was given countless credit cards, bank accounts etc long before I registered on the electoral roll.