Possible reason for not being accepted

BRD

Hi,

I am a PhD student living away from home. I have recently been trying to apply for credit cards for the interest free balance transfers in order to save money while paying them off. However the two best cards for me I have tried so far I have been rejected from but it doesn't give you a reason why. I think it may be one of two possible reasons that might simply be how I am applying and I could easily change and I was wondering if anyone could advise me if this is the case.

I think it is either a) because I have to put my occupation down as student or unemployed, even though as a PhD student I am funded and earn money through demonstrating so have a reasonable untaxed income or b) as I have moved several times in the last 7 years I keep my primary bank account registered at my parents' house so when I enter the addresses I have lived at it only has another account registered which is primarily for paying off a loan (which only has 3 months left and I have met every payment).

Would I be more likely to succeed in my next application by entering where I live as with my parents rather than the rented addresses? Or by entering an occupation other than student?

I don't want to get rejected from my third choice of card as after that the benefits of the balance transfer are greatly reduced.

Tixy

You need to enter your correct address where you live (this should be the address you are on the electoral roll at).

If you don't have an occupation it would be incorrect to enter that you are employed - and could well flag up a marker at national hunter fraud databse (which looks for inconsistences in applications). I remember a similar post from another Phd student - but can't actually remember whether anyone came up with a solution - perhaps you could consider applying by phone where you can explain your situation and they can fill in the form in a way they are happy with based on your circumstances.

Do you already have debts on cards that you want to transfer across? perhaps it is down to affordability calculations as well?

BRD

Well I am definitely on the electoral roll here as I voted in a local election about a month ago. I'll try phoning them, I do have a balance I want to transfer but it's not that high, maybe part of the problem is that as my funding is tax free and I do not have to pay NI on it they only see the income from teaching which is quite low.

BRD

Another reason could be that I don't have a landline telephone?

koloko

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CLAPTON

in general, as a student it is better to use your permanent address i.e. your parents and never use term time addresses; you should be on the electoral roll there too

however, as a student you are unlikely to get a quality card offering 0% offers

BRD

That's the point though, I'm a PhD student. I don't have terms it is full time and I don't live at my parents ever. It is a funded position. It's not the same as being an undergraduate but the automatic computer systems the banks use don't allow for this.

scottishblondie

I've always put student (or postgraduate student if possible) as well as part time employment as a tutor, and then entered my stipend + teaching income as the salary, and I've never had a problem. I have been asked for proof of income tho. Also I own my own home, have all my bank accounts registered here etc. I expect this makes me look more stable.

BlueSmartie

Yeh but I assume there is no income with this course though? That is the part they will have an issue with, how you would pay it each month.

You may have money to pay it, but it's not an official steady income from what I can gather from your posts.

scottishblondie

BlueSmartie wrote: »

Yeh but I assume there is no income with this course though? That is the part they will have an issue with, how you would pay it each month.

You may have money to pay it, but it's not an official steady income from what I can gather from your posts.

I've been a PhD student since 2007 with a steady income from my stipend, topped up by my tutoring income. From what I can gather the OP is in the same position.

BRD

scottishblondie wrote: »

I've been a PhD student since 2007 with a steady income from my stipend, topped up by my tutoring income. From what I can gather the OP is in the same position.

Yes that is the case, the stipend is paid into my bank each month. I phoned them up and they said to write a letter explaining the income and showing where I get it from and they might reconsider it but the woman on the phone was a bit vague.