Criteria for Sainsbury's Gold Credit Card

Bouchard

Hi Everyone,

I'm hoping someone may have some insight into the criteria used for applications on the above card.

I've been rejected for this card recently as my application has "fallen outside of the standard criteria" and that the application was not based on "adverse information located on my credit file"

As far as I am aware I have good credit, no CCJ's or history of debt and a decent household income.

Any information would be welcomed.

Thanks in advance.

izools

You have no history of debt?

This will be why. Prime lenders don't provide credit to applicants that don't have a proven track record of having responsibly handled similar accounts in the past.

Do you currently hold a credit card with anyone else? If so, for how long?

Bouchard

Sorry, bad wording and thanks for your reply.

I meant to say no history of bad debt. I have had a bank CC for over 5 years, and a another since May/June for a balance transfer.

The application doesn't seem as detailed as others I've seen and only asks for basic information and employment/income/bank information.
No questions regarding other CC's etc and the refusal seemed to suggest that information gleaned from my credit file was not the reason for the refusal.

I guess it could be something like we rent and don't own our own property and for the Gold Card that doesn't fit in with their ideal?

izools

Just because they didn't decline you for adverse credit history doesn't mean the decision wasn't based on data on your credit file.

I strongly suspect they are weary of providing an applicant with a credit card so very soon after they've taken one out.

You have only held your other credit card for four months - which may be construed in some credit scoring models as credit desperation and / or you've not held the other account for long enough to prove you can handle it responsibly long term.

Don't fret; give it a few months and try again

Bouchard

That makes perfect sense spelled out like that.

Thanks Izools.

dgtazzman

I'd say wait at least 6 months, as most seem to automatically redecline in that period from what I've been reading.