Credit Card Rejection - What have I missed

paulmcerlean

Tesco is a very prime card and they look for applications where the person has previous history managing a credit card. A fixed repayment loan is not this. Other cards may accept you as you have a clean record however the best place to go, especially with your good credit file and good salary, is your bank. You really should have no issues getting a card from them with the limit you are looking for.

neilderby37

If you bank with the NatWest they have a a Classic MasterCard with 0% for 13 months on Purchases/Balance Transfers.

Littlewoods and Tesco declined me back in January but the NatWest accepted me.

Cash_Flow

paulmcerlean wrote: »

Tesco is a very prime card and they look for applications where the person has previous history managing a credit card. A fixed repayment loan is not this. Other cards may accept you as you have a clean record however the best place to go, especially with your good credit file and good salary, is your bank. You really should have no issues getting a card from them with the limit you are looking for.

Since when? I thought Tesco were cash rich and generally accepted anyone with a half decent credit history.

gozaimasu

neilderby37 wrote: »

If you bank with the NatWest they have a a Classic MasterCard with 0% for 13 months on Purchases/Balance Transfers.

Littlewoods and Tesco declined me back in January but the NatWest accepted me.

Yes this is a good idea. Your own bank is likely to accept you, but expect a measly limit like £500. Might as well take what you can get no matter how long, but it won't last you very long. Hopefully once accepted you could ask them to increase the limit for you. Not sure when the best time to ask them to do that it.

YorkshireBoy

koloko wrote: »

My gf tells me she has never missed a payment.

If you have a financial association then probably best to confirm this by checking her credit reports too (just as Tesco did when they searched both your files for your application).

neilderby37

gozaimasu wrote: »

Yes this is a good idea. Your own bank is likely to accept you, but expect a measly limit like £500. Might as well take what you can get no matter how long, but it won't last you very long. Hopefully once accepted you could ask them to increase the limit for you. Not sure when the best time to ask them to do that it.

The NatWest gave me a limit of £1,300 which isn't much BUT it's enough for me.

koloko

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tigerlily44

koloko wrote: »

Thanks for the advice guys.

I went to the bank and asked for a credit card from them; this got rejected.
So we opened up a joint bank account, and asked for an overdraft. This also got rejected.

I asked if our bank manager whether it was him rejecting us or the computer - he admitted it was the computer, and he had no access to the criteria under which we were rejected. I asked for advice on how to improve my chances in the future, and the only thing he could guess was my lack of a previous credit card was holding me back. The natural progression of this line of enquiry is therefore to apply for a Vanquish Card.

Applying for a Credit Card with a £200 limit on a £60k joint income seems a bit pointless, but I guess I have to start somewhere. I'm going to leave it for six months, 3 credit rejections in a week can't be good.

In the future I would like to see banks / credit companies proactively offer advice as to how to improve your chances of securing credit in the future, and to explain why a rejection was made. The current culture of cloak and secrecy isn't healthy for the ordinary customer.

The reason they won't ever tell you is that they are rightly concerned that people will then tailor their applications so they get accepted and each lender's criteria is different deliberately. I can't say I blame them for this - after all credit isn't a right.

This site is the only thing that's needed to let you know how to secure credit in the future and if there's two things I've learned its that there is nothing like the wisdom of experience that's shared here and that also there is nothing that improves your chances more than patience - keeping those searches down and patiently waiting.

My own income is over three quarters of yours on its own but I'm not too proud to be a vanquis card holder - as you say you've got to start somewhere.

I would definitely scrutinise your reports with a fine toothcomb now though if your own bank is rejecting you

tiger

koloko

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aceandy79

I have also for the first time in my life, been rejected for credit cards. The M&S one a few weeks ago, and today for the Tesco. I have signed up with Experian today to get my report as I am a little concerned about this. Hopefully nothing serious will come back on the report as I should have a pretty good credit history. I have very recently moved house and taken on a new mortgage, which may be what is causing the problem. Either that or as others have predicted - they don't give credit if they don't think they'll make money from me.