declined application and inactive credit card question.

kilop999

deleted by me

Curr946

Well, regardless credit score, you don't have much in the way of credit history and your on a very low wage. Most card now want income upwards of 20k. New searches will have a small impact on your file, and given you have just taken out a loan, changed banks, taken a out a new phone and done a search for a credit card in a short space of time wont look good. Best advice, pay down the loan, use the store card and pay in full each month and keep up with the mobile payments. Over then next 6 months to a year your score will improve. But you need to think about increase your income if you want / need credit for any large purchases.

Ben8282

I think the problem here is your income. It is simply too low. £500pm gross. You were paying a loan and a mobile phone contract. Then last month/this month you took out a second loan, without having fully repaid the first, for 4 times the amount of the first loan and around the same time took out a second mobile phone contract. Even if the phones are the lowest possible cost SIM only contracts you are paying a minimum of over £20pm for your two phones + any over allowance calls. I don't know what the loan repayments are but combined they will be over £50pm. My guess is that your payments will probably be somewhat higher than the figures I mentioned. That leaves you less than £100 pw gross to live on - rent, council tax, food, transport to work, gas, electricity, water, clothes etc etc. The question that the credit card companies will ask is 'How can this person afford to live, let alone make any repayments?'

The fact that you have just taken out these two new credit agreements will also be having a bad effect, especially the loan. You will definately appear over committed in relation to income to any lender.

Now this may not be a true assessment of your financial situation. If, for example, your partner has a substantially larger income than yourself, apply for a card which asks for HOUSEHOLD income rather than personal income. If you have other sources of income other than the 6K salary, declare them so that the credit card company knows about them.

kilop999

deleted by me

chanz4

Why not appeal the desco decision and provide bank statments to show your disposable income?

bouncydog1

You have a low income and several commitments already - I don't understand why you need to borrow £500+ to spend on a new t.v. If your existing TV is broken then why don't you try freecycle and see if you can get one for nothing.

This is surely a better stop gap that polluting your credit file with multiple searches and refusals.

kilop999

deleted by me