Failed internal lending criteria.

Empty_pockets

Grrrr:mad:

Just been declined for a CC again! Didn’t even get as far as the credit check.

Getting quite infuriated now. Is there anybody out there willing to give some advice on lending criteria?

Bit of background info
I have a fairly clean credit record.
One late payment to British gas April 2010.
Two late payments to Tesco CC pre 2007 (account closed and satisfactory 2007).
High salary £45ish.
Last applied for credit Jan18th with HSBC – with credit check (also declined).

Fast forward to today. Applied to my new bank, first direct for a Gold card with 6K limit.
Opened account in Oct 2010. Never been on overdraft. Also have ‘Regular saver' account with them.
I have transferred my salary payment to them, two so far.
I have not transferred and direct debits as yet.

As usual don’t give reason for decline but when pushed she did say the ‘limit’ wasn’t the issue.

Can anyone advise where I’m going wrong? The only think I can think is that I’ve too much disposable and they won’t lend because they wont make money from me.

Only other information I gave her was
£357 Mortgage
£106 Council tax
£90 Utilities
£300 Regular Saver
£500 to CC which is to be transferred at 0% so can be disregarded (Egg 12K limit)
£4000 INCOME from lodger.

Confirm again, I did not have a credit check today, I failed internal lending criteria.

Thanks

[Deleted User]

Looks like lack of history about you. Recently opened account, no DDs going out - they can't see your expenditure. Adding on the defaults, I'd suggest that's your problem....

speedbird1973

I would guess they want at least Salary payments into your account too if they're scoring you internaly? I am however guessing!

Empty_pockets

They do have salary payments, though admitedly only 2 so far. £2400 & £3100 ish.

Fustratingly my 'other' bank is HSBC. they were quite happy to share whatever required when I opened my account but it seems they only share when suits.

tigerlily44

Empty_pockets wrote: »

They do have salary payments, though admitedly only 2 so far. £2400 & £3100 ish.

Fustratingly my 'other' bank is HSBC. they were quite happy to share whatever required when I opened my account but it seems they only share when suits.

I'm with RBS and they advised they would want to see at least 3-6 months salary payments going into the account before considering me for any products

I would suspect that this may be what is happening here...ask the question and you'll find out

tiger

KingElvis

With iffy late payments you'll be lucky to get anywhere with just two months salary going in, you're just being too keen.

Empty_pockets

Hmm, in hindsight agree on the history thing...though many folk apply for CC's with companies they don't bank with and get accepted.

I don't think the missed payments has as much weight as some folk make out. 3 late payments in the last 10 yrs can hardly be classed as terrible history.

Either way, they would not have been aware of said late payments.

KingElvis

If they're marked as late on your credit report they will be aware.

Empty_pockets

They did not do a credit check for this application. How could they be aware unless they are using archived data...which I think is unlikely.

izools

No but they get a CAIS feed from Experian and / or a Insight feed from Equifax so they will be aware of the statuses on all other live accounts.

Banks / Credit Card Companies don't need to do a credit search to know how you are performing with 3rd party accounts these days :beer:

Empty_pockets

Never heard of this CAIS feed. Will look into it.

Thanks.