Turned down for credit card, A+ rating, complained, now what?

fluffpot

Hi everyone
Many thanks for your replies - they have been really, really helpful.

In answer to one post, I was applying for this card due to it's competitiveness for cash withdrawl and exchange rates overseas.
As suggested I'll check out my existing cards' rates but if not think that the prepaid card might be the way to go.
I can see now how Halifax won't make any money out of me, so why should they give me the card?!?
As for cancelling the others and reapplying - this is not really an option as I'm travelling in less than 3 months and it's through these cards I've managed to accrue enough air miles for 2 long haul return first class flights - so the 'savings' in currency exchange fees would be minimal compared to this!
Thanks again for your input
Fluff

YorkshireBoy

fluffpot wrote: »

I can see now how Halifax won't make any money out of me, so why should they give me the card?!?

A popular misconception!

They'll make money on their share of the merchant fees.

I've had 7 or 8 0% Halifax cards over the last 7 years, and never paid them a penny in interest.

pheonixrising21

In order to have a better chance of getting one of these cards, you will need to reduce the available credit you currently have. You already have access to £30k, so (in their view) why do you need more.

As others have suggested, I would cancel a card or two (or reduce credit limits significantly - if you pay them off in full each month, I doubt you get anywhere near the limits anyway), then re-apply in a couple of months when the new limits have got through the CRA's systems.

Maybe you can also open an account with halifax in the meantime, so that you are a customer? Not sure if that will help or not, but it can't hurt, especially if its a savings account or something like that?

Ben8282

fluffpot wrote: »

Hi everyone
Many thanks for your replies - they have been really, really helpful.

In answer to one post, I was applying for this card due to it's competitiveness for cash withdrawl and exchange rates overseas.
As suggested I'll check out my existing cards' rates but if not think that the prepaid card might be the way to go.
I can see now how Halifax won't make any money out of me, so why should they give me the card?!?
As for cancelling the others and reapplying - this is not really an option as I'm travelling in less than 3 months and it's through these cards I've managed to accrue enough air miles for 2 long haul return first class flights - so the 'savings' in currency exchange fees would be minimal compared to this!
Thanks again for your input
Fluff

You have two perfectly good cards with very substantial amounts of available credit already.

You say that you were applying for this card due to it's competitiveness for cash withdrawl and exchange rates overseas. Just how much cash do you intend to withdraw during this holiday? Unless we are talking about very large amounts, is it really worth the trouble for the relatively small amount involved?

Don't quite get what you want a pre-paid card for. By the time you buy the card, possibly pay to top it up etc how much do you imgine you are going to save?

The number of airmiles required for 2 long haul first class flights is very substantial. You must make very extensive use of your cards for purchases every month.

fluffpot

Well I'm away for a month, so expect to be spending a fair bit! For example to withdraw on my existing debit card will cost 2% up to a max of £5 - given that I'll probably be taking out £250 each time this is £5 per withdrawl.
On a prepaid card which will cost me nothing to buy and will credit me with £5 (see Moneysupermarket deal highlighted on this site) it costs $2 per withdrawl
So there is a difference - but now I need to work out if it's worth bothering about (not very MSE, though is it!!!!!!!!!!!!!!!)
I WOULD have preferred a credit card as then I wouldn't have to bother transferring £, but as I'm not prepared to get rid of my other cards nor have time to wait 3 months to reapply then not an option as per the rest of this post

Yea we do spend a bit - but been saving air miles for a while now!
All views have been very helpful! Thanks
Cheers
Fluff