Appealing an Aqua decline

tigerlily44

Hi there

Anyone out there successfully appealed an Aqua decline or did you just wait a few months to see if another application changed their mind?

I'm intrigued that I don't seem to fit their customer profile although with no adverse but limited credit history you would think I did.

My Experian and Equifax files are both fine, show me on the electoral roll and all the accounts I do have with green Os, so any ideas you may have would be gratefully accepted lol.

I was going to try NID appeal template - what do you think?

tiger

book12

I thought you got a Capital One credit card already.

One is enough already.

tigerlily44

book12 wrote: »

I thought you got a Capital One credit card already.

One is enough already.

I have, but thought more than one open line of credit helped to build up creditworthiness in the long term?

tiger

KingElvis

tiger, why not try Barclay Card Initial?

tigerlily44

KingElvis wrote: »

tiger, why not try Barclay Card Initial?

Have done and was declined - they showed Aqua as the one to try grrr

tiger

paulmcerlean

Aqua are a wee bit harder to get than Capital One.

fozmcfc

I personally would stop applying as applying too often in the short term could be looked upon as desperation.

Take the refusals by Aqua and Barclaycard as an indication that you are still not creditworthy enough. Use the Capital One card and make payments and over time it will improve.

If you try to run before you walk, you'll just fall over creditworthy wise.

tigerlily44

fozmcfc wrote: »

I personally would stop applying as applying too often in the short term could be looked upon as desperation.

Take the refusals by Aqua and Barclaycard as an indication that you are still not creditworthy enough. Use the Capital One card and make payments and over time it will improve.

If you try to run before you walk, you'll just fall over creditworthy wise.

Not worth appealing then? I'm not desperate but keen to prove I am creditworthy

thanks

tiger

fozmcfc

I guess nothing to lose in appealing, except some time.

As you have now tried for 3 cards in a short space of time, it is wise not to apply for any more credit for a while.

Generally people say no more than 3 searches in a 6 month period for credit otherwise you look desperate to lenders.

paulmcerlean

You can prove your creditworthiness via maintaining your Cap One card. As the poster above has said, you will end up in the spiral of decline now with the searches registered.

izools

Also keep in mind that if Aqua do approve you this will actually reduce your level of credit worthiness for a while -

A new account is seen as a negative. You are demonstrating a certain amount of indecisiveness in regard to what account(s) you want plus any time you do apply the creditor will need to be comfortable that you've handled your existing commitments well. Less than 6-9 months history on your youngest account won't demonstrate that - as there won't be enough history on the account to say whether you're OK with it.

Just remember - stability and ability to maintain the status quo are key in credit scoring.