Declined new card

Myxi2001

Hi I am trying to do a 0% balance transfer and 0% interest for as many months as I can. I requested a Barclaycard as my Experian Credit Rating is 'good'. I was declined and told to get an Equifax Credit Report, which I then did and they have my credit rating as 'poor'!! How can the reports be SO different? Basically it is poor due to Electoral Role not being 3/4 yrs at current address and I had a couple of missed payments on a catalogue that I kept forgetting to pay (was only £10 so not like I couldn't afford it!) But the last missed payment was October last year.

Apparently I can write a letter to Barclaycard disputing their decision to decline credit, but have no idea what to write? Any ideas??

The lady I spoke to at Equifax said that they don't give out my actual credit rating, they just give them access to my report which shows pretty much all green!! I have printed it out to send along with my letter, as well as my Experian report (which seems to hold more of my past addresses). I just need to work out what to write!

Please help?

Venusflytrap

Myxi2001 wrote: »

...and I had a couple of missed payments on a catalogue that I kept forgetting to pay (was only £10 so not like I couldn't afford it!) But the last missed payment was October last year.

How can Barclaycard be sure that you will not "forget to pay" your debt if they gave you a CC?

Perhaps give it another 6 months, pay all your bills on time and then reapply?

Myxi2001

Venusflytrap wrote: »

How can Barclaycard be sure that you will not "forget to pay" your debt if they gave you a CC?

Perhaps give it another 6 months, pay all your bills on time and then reapply?

Do you think that is what it was down to? How annoying as all my others creditors are paid on time! Plus Experian classes my credit as 'good'

Plus it was only down as 1 missed payment each time rather than 4 or 5

CLAPTON

maybe set up DD so you never forget to pay

Myxi2001

CLAPTON wrote: »

maybe set up DD so you never forget to pay

I have with my other creditors, but there was no option to with 'Studio Catalogue' which is why I forgot. That account is back to zero now, I might close it to prevent future missed payment issues!

Ralphy101

I got accepted last october for a BC platnium.

I have only this month registered on the elec. Register !

Myxi2001

Ralphy101 wrote: »

I got accepted last october for a BC platnium.

I have only this month registered on the elec. Register !

I did ask the question if it was because I had asked for a £2.5k balance transfer but the person I spoke to said that wasn't the case. Its annoying that they don't give an exact reason!

david39

It could also depend upon how much is outstanding on your existing card, how much you earn.
If your existing card is nearly maxed out (you don't give details) then BC might be looking at it from the angle that you are trying to extend your credit facility and, if they take on that balance, then you might carry on spending on the old card, thereby potentially doubling your debts.

Myxi2001

david39 wrote: »

It could also depend upon how much is outstanding on your existing card, how much you earn.
If your existing card is nearly maxed out (you don't give details) then BC might be looking at it from the angle that you are trying to extend your credit facility and, if they take on that balance, then you might carry on spending on the old card, thereby potentially doubling your debts.

I just want the 0% interest so I don't have to pay so much extra back. Guess I'll have to try again in 6 months...

wigwam

Myxi2001 wrote: »

I have with my other creditors, but there was no option to with 'Studio Catalogue' which is why I forgot. That account is back to zero now, I might close it to prevent future missed payment issues!

Having just this minute checked my credit report i think you would be better to reduce the credit available to minimum and keep the account open to let the missed payments naturally fall off the report.

On one account I have late payments fro 2002 glaring at me in yellow because I closed the accounts in 2005!! If id have left the account open they'd have been gone in 2007 and I could have closed the account clear.

Grrrr..........

Myxi2001

wigwam wrote: »

Having just this minute checked my credit report i think you would be better to reduce the credit available to minimum and keep the account open to let the missed payments naturally fall off the report.

On one account I have late payments fro 2002 glaring at me in yellow because I closed the accounts in 2005!! If id have left the account open they'd have been gone in 2007 and I could have closed the account clear.

Grrrr..........

Do they disappear after so long then? I closed my Halifax credit card when I paid it off, and that had one missed payment, but that was years ago now!