Credit confused - checked reports but declined credit reccently

hellokitty08

Hello,

I have reccently been turned down for a Barclay Card Platinum, which I wasnt expecting.

I was also refused an O2 contract back in October 2011, so I thought that I should check out my credit file.

I checked with Equifax, says my rating is good (not the top but the next one down, cant remember of that was very good or good) but it doesnt have me down on the electorial role. And has me as not the best because I missed two payments for something in 2010, which has since been paid off in full and for the electorial role issue. My score was 473.

Expereian says my score is 999, excellent. I am on the electorial role with them, but says something to notice is that I have quite a lot of credit available at the moment.

To my untrained eye, my files show what I was expecting and all seemed quite good.

Credit I have at the moment is as follows,

Bank Accounts
1) Barclays Graduate Additions. Overdraft limit £2,425. Usually at limit by the end of the month. (wages from full time job get paid in here)
2) Nationwide Flex Account. Overdraft limit £300. Usually at limit by the end of the month. (wages from 2nd job get paid in here)

Credit Cards
1) Nationwide. Credit limit £1500, cleared this year, current balance £0.
2) Virgin Money. Credit Limit £3,500, balance £1400, £400 paid off over the past 12 months.

Loans
HP - on my car, £131 a month, ending this week, hoping to re-finance for another 18 months until all paid off.

a few old closed down accounts that have all been cleared.

I really want to transfer the Virgin money balance to an interest free card as I hope to pay of the balance this year, but I dont know what to do now.

Also as the car finance runs out this week, I applied to the company to get it extended and now I am worried that they might turn me down after what happened with Barclays.

Can anyone offer any advice?

Including my car loan I did pay off over £3k of debt this year, so just trying to manage it better in 2012, but worried incase i can get a good deal.

lee1985

Hi Kitty

Have a look here, it's another topic on this same forum.
You'll have been declined for one of these reasons

https://forums.moneysavingexpert.com/discussion/3461183

blacksta

Barclaycard searches equifax - you stated you have a 473 score from equifax - I assuming the makeup of that 473 is not really that good - Might be wrong.

Have you tried using the barclarycard pre application checker - it leaves a soft footprint on record - which is not seen by other lenders. The process should advise which card you really qualify for.

hellokitty08

Just read through the been refused credit post and I am still a little confused as nothing has changed during the past 12 months, with regards to me getting any more credit,

e.g got a new mobile, but cancelled the old one. Still paying the same.

I havent taken on any new credit it the past 12 months.

The only thing that has changed is that I now owe £3k less then last year.

I was a bit worried about closing down the nationwide credit card because I was thinking worse case senario I could shuffle the balance from Virgin to Nationwide, and then back again on to a new balance transfer deal with them.

should I get the Virgin credit limit reduced? £2k would be fine. And I can pay off the £300 overdraft at Nationwide this month and have the facility removed.

hellokitty08

blacksta wrote: »

Barclaycard searches equifax - you stated you have a 473 score from equifax - I assuming the makeup of that 473 is not really that good - Might be wrong.

Well, it says ways to improve, get added to the electoral roll, which I am on.

Then just mentions the 2 late payments from 2010 on an account that has since been settled and closed. Thats the only reasons its not giving me for having a higher score or their top rating.

Have you tried using the barclarycard pre application checker - it leaves a soft footprint on record - which is not seen by other lenders. The process should advise which card you really qualify for.

No i didnt try that, but I am going to do the one on moneysupermaket after finding it on here.

hellokitty08

blacksta wrote: »

Barclaycard searches equifax - you stated you have a 473 score from equifax - I assuming the makeup of that 473 is not really that good - Might be wrong.

Have you tried using the barclarycard pre application checker - it leaves a soft footprint on record - which is not seen by other lenders. The process should advise which card you really qualify for.

Hurm, interesting! I wasnt accepted on the barclays pre checker because it says I am not listed on the electoral roll!

Looks like this is the main issue that I need to get sorted. How I do go about this does anyone know? I am registered and Experian show I am, I have no idea why Equifax says differntly.