Rejected from Santander 123? Why?

ironlady2022

Hi Guys, just wanted to see what are the reasons why Santander rejected me? I had 4 credit cards with no balances on there when I applied, limits totalled 6k, and my income is 22k. I use 1-2 cards regularly but wanted the Santander card for hte cashback.

Is it because I have too many cards? I cancelled one subsequently thinking I would be successful. Any way of overturning the decision?

Sparklight

Hi
Not too sure why you would refused, I have 2 cards with Santander
the zero C/C and 123 C/C and I also have the 123 current account
Did you apply for both 123 current and C/C accounts ?

bigadaj

Probably not worth appealing, if I were you I would close two credit card accounts, and then leave it for six months and apply again, that might help.

jason1231972

mayling03 wrote: »

Is it because I have too many cards?

A possibility, but your available credit of 6k isn't THAT high in relation to your salary of 22k. It could have been anything, or nothing. The flipside to this is the possibility that as a person with several debt free credit cards, you're unlikely to make Santander any money in interest. Sometimes what they really want is someone who'll pay on time, but will spend many years and several thousand pounds in the process!

However, it could have been anything, or nothing. Prospective customers have no right to any particular card (I'm not saying you think it's a right, but some people do!). Therefore, lenders can be as picky as they want, and trying to find out exactly what they're looking for requires psychic qualities.

Naf

I remember Martin blogging not so long ago about this type of inexplicable declines. He pointed out (as has rightly been mentioned) that their criteria are entirely about whether they think they will make any money out of you. They use your credit file as a part of their decision. It's not just about good credit= acceptance. There are people with only mediocre credit histories who are accepted time and again, because they borrow and pay back regularly so lenders are confident to make a profit out of them.

walderston

mayling03 wrote: »

Any way of overturning the decision?

As you have not said if its the cashback card or account, I have the address for both departments

Bank account and personal loan
The Appeals Officer,
Unsecured Underwriting Dept,
4th Floor,
Santander House,
Bradford,
West Yorkshire
BD1 5AN

Credit card
Credit Card Application Appeals,
Credit Card Underwriting,
Santander UK plc,
Santander House,
201 Grafton Gate East,
Central Milton Keynes
MK9 1AN

When appealing, include a bank statement and a credit card statement within the last 3 months. Also if possible a copy of your credit report as this will actually speed up the decision. ( You can get a free for life report from Noddle )

Hope that helps.

ironlady2022

It's the 123 credit card cashback account I applied for. I think I fall into the making no money category. I've only ever been rejected once before for a card in 8 years and have had an assortment of credit cards.

walderston

mayling03 wrote: »

It's the 123 credit card cashback account I applied for. I think I fall into the making no money category. I've only ever been rejected once before for a card in 8 years and have had an assortment of credit cards.

Doesn't quite work like that for Santander

BugsyBrowne

mayling03 wrote: »

It's the 123 credit card cashback account I applied for. I think I fall into the making no money category. I've only ever been rejected once before for a card in 8 years and have had an assortment of credit cards.

Banks pick and choose their customers and Santander has said Adios Amigo.

diceydeb

Is it worth having this card if you have to pay a monthly fee to use it?

jon142

Santander worst bank in history.

Maybe they did you a favour?