Virgin Money

pippitypop

Hello everyone!

I applied for a VM credit card on the 24th April 2012 and was declined. I checked my credit report and found that there was some erronous missed payments that have now been removed by the company and credit reference agencies. My credit score is now 100+ points higher, and I have paid off / balance transfer over £5,500 debt to my partner's 0% credit card. Do I need to wait another 6 months before applying again or can I phone them now I'm aware of the errors on my credit report and get them to run another credit check?

stephane_2

You could write to them to appeal the decision and providing them with a copy of your current credit report & maybe proof of income....but don't hold your breath!!

steve1980

Your credit score means nothing, it's just three random numbers created by the CRA's to give you a false impression.

MBNA requires people to be absolutely sqeaky clean when it comes to credit.

You're better off waiting at least a month before applying.

As you've also got a £5.5k debt that your partner has kindly accepted you should pay that off first before looking to get more credit.

jamesd

No harm to appeal and point out the specific errors on your report that have now been corrected. That'll save one application and may be successful. The transfer to your partner isn't something to mention, let them see that in the updated, corrected, credit report that they will see when they refresh their search.

pippitypop

Thanks guys, the debt we had was joint debt but because my credit rating was better we put it all in my name. I am paying £2000 off debt, but it will take me a year to clear it all. I'm paying 10.5% on one of my loans, so I am hoping that I can do a balance transfer on a VM card to pay off some of the loan.. so at least then it's interest free whilst I'm paying off my debts (I know I would still have to pay the transfer fee, but it still would work out much cheaper for me). I will write into them with my credit report.

Rupert_Bear

steve1980 wrote: »

Your credit score means nothing, it's just three random numbers created by the CRA's to give you a false impression.

If nothing else good for the feel good factor. However that said even an advisor at Experien said it was useless.