creation card

onemark30

just been accepted for a creation credit card with a 1k limit,also have a hsbc card with a 1k limit,yet when i applied for a capital one card i was declined ,it doesnt make sense can anyone maybe explain why this might be.

Giddytimes

Did you apply for the Capital One card last? Potential creditors search your credit file and they can tell how many applications you have made and with which companies.
Applying for too many cards in a short space of time will ring alarm bills with creditors, usually only people desperate for money do this. It will make you seem a greater credit risk, hence you might have been accepted for two cards but will likely be declined for any more until creditors can see how you're handling the cards.

There are a number of other reasons it could be too, no one can say for sure, but in the absence of any further information that's my best guess.

onemark30

sorry for the late reply,i have had my hsbc card for over 12 mths and just thought i would like another card so applied for capital one and got declined ,saw the creation one and got the card,i just cant understand how these credit cards work ,being refused by one then 15mins later get accepted by another,the only thing i can think of is when they do the credit search,i have 11 credit accounts but only 5 of them report to experian ,but all of them report to equifax,all forms of credit should be made to report to all 3 cra,s,otherwise its not being fair being declined for something because they dont have all the information of the person applying for credit.

chanz4

Creation only search equifax, lenders can be selective and have a different criteria for each card.