Declined with very good credit score

paulconfused

Hi All

I've just been declined with what I though was a very good credit score and history. Details as follows;

• Excellent payment history on all debts
• no other loans except a £90k mortgage
• One other credit cards which I pay off in full monthly
• I have checked my Experian report and all is well there. Nothing apart from what I state above.
• Good salary (top end of lower tax rate)

I can't understand why they might have refused me but wanted to explicity ask people on here if these reasons might affect their decision:

1. About a week ago my current CC got in touch to say there had been fraudulent activity on it. Apparently my details had been hacked on a major online shop. The fraud team are currently looking at this but i wondered if the fact that this is an 'open' case might have affected the decision.
2. I haven't done it for a few years but I had about £2.5k which I swopped from 0% CC to 0% card for a while. one of these was with the halifax (the bank that has just declined me). Do they check previous history for this and try to refuse people they think are likely to do it again (i.e. the people that they aren't going to make any money out of!)

One other factor might be that i have recently linked myself to my girlfriend financially by taking a joint mortgage. She however also has a very good credit history so I can't see this being the problem!!

Any help would be appreciated.

Thanks
Paul

climbgirl

Unless you've applied to the same bank, I'm not sure they would even know about the fraud case, I don't think it shows on your credit report. I've had an instance of fraud on my card before and it doesn't show on my record.

I was declined for a card recently and was very surprised - no adverse credit history, etc. I appealed the decision in writing, they rang me up and asked a few questions about how I use my current credit cards and I seem to have been accepted after that call.

So worth a shot. They generally won't tell you over the phone why you've been declined as they don't discuss their credit scoring system so appealing in writing is usually the best bet.

paulmcerlean

You dont know if you have a good credit score or not. You can base it on your report, but each lender will score you differently. Sometimes paying a card off monthly in full can have a negative effect to some credit card lenders.

How much money are they likely to make off you if you clear the balance in full everymonth and show as much on your credit files? Think about it.

tigerlily44

Your score is something you pay Experian for - but they don't lend money. Therefore each lender will use their own criteria and can refuse you even if your score is 'excellent'.

This site always advises against buying such scores

tiger

lisyloo

Did you move house when you took the mortgage?
Just wondering if it is time at your address.
If you moved have you signed up on the electoral roll?

Sometimes it can simply be down to you not fitting their profile.
And yes people who pay it off on time do sometimes get turned down for the reason of not being particularly profitable.