Declined (again) for credit card - no idea why

mat5664

I applied for a Virgin credit card yesterday to re-finance an expiring Barclaycard 0% deal - and was auto rejected. This also happened 6 months ago with HSBC - and I made sure I waited 6 months to apply again.

I have never missed a payment ever, earn £81k. have a £175k mortgage (35% LTV). Credit report shows score of 916 and no problems (and on the electoral register).

Credit cards are as follows:

Barclaycard - limit £14k balance £11k
BA Amex - limit £11k - paid off every month
Tesco mastercard - limit £2250 paid off every month

Can only think the issue may be the high unused limit on the BA Amex? Any other ideas. Have never previously had problems up to 6 months ago.

BugsyBrowne

It could well be your available credit mate.

mat5664

I just called Virgin (well MBNA) to ask why it had been rejected. Initially he said he couldn't tell me and I should write in to the - 'reconsideration department' if I wanted to appeal with supporting documents.

When I mentioned that it was hard to appeal when I didn't know what the issue was and therefore what documents I needed - he asked me to hold.

After about 10 minutes he came back to me and said he had looked at my credit file and discussed with his manager, and since I had been a previous MBNA customer with no issues, they had decided to manually approve with a limit of £10k.

Very happy with that - and decent customer service :T

BugsyBrowne

mat5664 wrote: »

I just called Virgin (well MBNA) to ask why it had been rejected. Initially he said he couldn't tell me and I should write in to the - 'reconsideration department' if I wanted to appeal with supporting documents.

When I mentioned that it was hard to appeal when I didn't know what the issue was and therefore what documents I needed - he asked me to hold.

After about 10 minutes he came back to me and said he had looked at my credit file and discussed with his manager, and since I had been a previous MBNA customer with no issues, they had decided to manually approve with a limit of £10k.

Very happy with that - and decent customer service :T

Strange one that.

Never seen this kind of practice before.

barneygumble

You earn 81k yet have a outstanding credit card bill of 11k?
Could that be anything to do with it?
Spending more than you earn etc.

SnowTiger

barneygumble wrote: »

You earn 81k yet have a outstanding credit card bill of 11k?
Could that be anything to do with it?
Spending more than you earn etc.

Isn't that the norm?