Declined credit card - should I appeal?

RingtheChanges

I have just applied for and been declined a Santander credit card (22 months 0% interest).

I did paid for an Equifax report, which was good. I have no outstanding or late payments or bad debts.

The only thing that could have gone against me is that I have had three addresses in less than 3 years. I sold my house, because I had to, but couldn't face the stress of buying at the same time. So rented for six months and then bought a flat.

The rejection letter does say I can appeal. Do you think if I explained the above it might make a difference or will it just look desperate and go against me?

Thanks

opinions4u

An appeal is unlikely to succeed.

But it won't create any new problems for you.

So nothing to lose.

adindas

5he11be11e wrote: »

I have just applied for and been declined a Santander credit card (22 months 0% interest).

I did paid for an Equifax report, which was good. I have no outstanding or late payments or bad debts.

The only thing that could have gone against me is that I have had three addresses in less than 3 years. I sold my house, because I had to, but couldn't face the stress of buying at the same time. So rented for six months and then bought a flat.

The rejection letter does say I can appeal. Do you think if I explained the above it might make a difference or will it just look desperate and go against me?

Thanks

5he11be11e
As you said you have no bad credit and I believe you have reasonable stable income and do not have any mispayment.

If Everything is true I will say go for appeal. You have nothing to loose. I believe you have been rejected due to the way the stupid credit system in the UK work. They will not be able to differentiate between the people who need to move for genuine reason and the people who do it intentionally to avoid prosecution.

If you believe you get declined this is due to change of address elaborate your appeal letter from this site and supply evidence why you are moving.

I tell you my personal experience. I got rejected once with "Halifax Clarity Card" due to the same reason with you I moved to new address which is less than one year.. But I appeal, I also demonstrated that I had been banking with them for quite sometimes and have reasonable amount of money with stable income in their banks. I also wrote a complaint letter to their complaint department to add some pressure to novice staff who decide my case. Guess what. I got approved with very high spending limit compared to limit that is normally approved

What happened in your case I guess your case have been decided by a novice who just use the utterly rubbish credit scoring and data from CRA. So the safe bet is "reject". The way the credit system in the UK work is utterly rubbish, need some fundamental change ...

RingtheChanges

Thanks for your quick responses. I can't lose anything and if I win, 22 months 0% is worth it.

Michelle

YorkshireBoy

5he11be11e wrote: »

I can't lose anything

A second credit search (in quick succession...if they make one and still decline you) may prevent you being accepted elsewhere?

and if I win, 22 months 0% is worth it.

There's a 17 month card on the Santander website. Where's the 22 month product?

RingtheChanges

YorkshireBoy - sorry my mistake, 17 months 0%.

So if a second check in quick succession is bad, would is a reasonable time to wait?

Michelle

agrinnall

Has an appeal against a decline ever been successful? The fact is that they have assessed you already and decided that you don't meet their criteria, they can decide to accept or decline whoever they want so I'm not sure why they would even waste their time looking at an appeal.

jakesuk

agrinnall wrote: »

Has an appeal against a decline ever been successful? The fact is that they have assessed you already and decided that you don't meet their criteria, they can decide to accept or decline whoever they want so I'm not sure why they would even waste their time looking at an appeal.

I have had a greater than 50% success rate with appeals. If my memory serves me correctly I have made 4 appeals and been successful 3 times.

YorkshireBoy

agrinnall wrote: »

Has an appeal against a decline ever been successful?

I've managed to overturn declines previously, by telling them something they couldn't know when they initially assessed me.

However, the OP would need to ascertain exactly why they were declined...or be given a very strong clue.

BugsyBrowne

Dont Santander check experian if so have a look through there, Have you any credit cards or loans already?

antrobus

agrinnall wrote: »

Has an appeal against a decline ever been successful? ...

Yup. Got turned down for a GM Visa yonks ago (when it was really worth having one). They said it's your credit report. I paid £2 for a copy, couldn't see anything at all detrimental in it. Told 'em so. They said, well OK then we'll sign you up.