declined and puzzeled?

aggi

just got declined for m&s c card and puzzeled why? wanted the introductory offer on new purchases.

my report is perfect, got mortgage in january, new current account in april, and got 2 c cards. one hsbc 1k since 3 years not using it,
and tesco card since 2 years 2.5k using and paying off every month.
been in uk around 5-6 years. working full time since 3months, before part time.

why did they refused it? any ideas?

scott_lithgows

Were you asked "time with bank" and answered 2 months ?

They wont like that if you did.

YorkshireBoy

aggi wrote: »

why did they refused it? any ideas?

Ask them. They won't tell you specifically, but may indicate available credit elsewhere, existing indebtedness, etc.

What's your total available credit? (O/Ds, credit cards, etc)
Your income?
On Electoral Roll?
Any financial associates? What are there credit files like?

aggi

registered on electoral roll on new address but will show maybe from july, and i have other main account for 5 years, but switched recently.
also moved around quite often in passed few years, but thought that if managed to get mortgage then easily will get c card. i have no late payments everything always paid on time.

oh well, just taken by suprise:(

Burlesque_Babe

aggi wrote: »

registered on electoral roll on new address but will show maybe from july, and i have other main account for 5 years, but switched recently.:(

quite possibly the main 2 reasons. Not being on the electoral roll will count against you - check to see if your local authority does monthly updates or just an annual one.

YorkshireBoy

Lenders like stability, and at the moment you can't demonstrate that...new house, new job, new bank account, etc. Add in the fact that you've applied from one address and are on the Electoral Roll at another (are you, and have you been at all your addresses over the last 3-6 years?), and you can see why they're nervous?

As to the mortgage vs credit card scoring, they're different products altogether...ie with the former they have some security. Credit card lending is unsecured.