No past debt, but only being offered products designed for people with bad credit

bluesky72

HI,

Ive never had and credit problems in the past, have checked my credit report, nothing unusual on there, am on the electoral roll, lived at the same address 5 yrs, same job 3 yrs, pay everything on time etc, but when applying for a new credit card and loan recently to transfer a balance,I was refused and recommended to apply for vanquis, a product for those with past credit problems? There is bad debt linked to my address, could that be the problem? My ex husband has bad debt, but I have never used his surname or had any joint accounts, finanaces with him, again could this be the problem...Anyone else had any probs like this.

thanks

[Deleted User]

You say you don't have any past debt, but also that you want to transfer a balance. Which is it? The first would imply lack of history, the second an issue on your file.

Tixy

Bad debt in other people's name at your address cannot affect your credit file. If you have never been financially associated with ex then his file won't be affecting yours.

What existing debts and credit accounts do you have? Who did you apply to who refused you new credit and who recommended you try vanquis?

KingElvis

Probably lack of any credit history so the mainstream companies have nowt to assess their risk against.

Like with most things in life, you'll have to start at the bottom.

cse

More than likely, the company you applied for credit with shows everyone that they decline a Vanquis referral. You may have only slightly missed their acceptance criteria - not necessarily due to bad credit, perhaps they don't think they'll make any money out of you.

bluesky72

Thanks for the advice,

I have had a credit history for the past 22 years, small amounts taken on credit cards, loans etc, always paid on time, settled early, never used an overdraft etc. Check my credit report annually and everything is as it should be, upto date, past credit showing settled and never missed payments etc.
For the past 3 years I have had only one credit card, and have always transfered to gain from the 0% balance transfer, was with egg, the virgin, now barclaycard, have tried to apply for mbna, virgin, tesco etc and all saying no and refering me to vanquis. Have gone from a credit card with £9000 limit to now not being able to get one???? odd.

Could it be cos they dont make money from me...

Tixy

Hi

Is your current credit limit on whatever card you have open £9k? what is the balance on it? if its much less then reducing your credit limit may help you get a new card.

Also probably worth checking that all your older credit cards are shown as closed on your credit file, not just as a zero balance?