Application Rejection

Ganga

Can anybody give me advise please.
I have applied for a RBS card with zero % on purchases ( we allways get a new card to pay for our holiday incase it goes t-ts up and have to claim)then pay it off when we return.
However i have been rejected by RBS and am thinking it may be because we used the same card last year and closed it in JANUARY:mad:.

Three questions, will this be the reason for rejection?
We are financially ok, that is no loans,no overdrafts no c/cards only our morgage which is with HSBC and you know how hard it is to get with them.

Is it worth appealing the rejection?

And finally and most important will i now have a black mark on my credit file for the rejection!:eek:

Sorry if long winded but i really need to know the answers

Regards:(

CLAPTON

only the fact that you made a credit application will show on your credit file

most decent CC (expecially those with benefits) require you already to have a CC

so having none is rather a huge negative.

YorkshireBoy

I believe the 're-apply' wait time for RBSG cards is 8 months.

I'm curious as to why you didn't apply elsewhere? Unless you already bank with them?

staffie1

Will this be the reason for the rejection?
Only they can tell you that - which they probably won't.

Is it worth appealing?
Nope

Will I now have a black mark on my credit file?
No - you haven't done anything wrong. You've just applied and been turned down. They may have recorded the search, but that's about it. Why not find out which credit reference agency they use, access your credit file and check it out? There (may) be something else on there which is causing a problem. Check every detail (electoral role / address data, mortgage repayment data, etc.

Ganga

Thanks for the replies,the reason i did not try any other c/c companies is because i only applied yesterday and after the rejection thought that if i applied else where it would show up as multiple applications and i believe this also looks bad on your credit file.The reason i applied for the RBS card was that what was recommended by MSE along with Nat West c/c but not sure if these two companies are "related" and will again be rejected.Thanks again

Ganga

cpjackso

Yep NatWest and RBS are the same company and you have likely been declined because you only closed the card recently.

Why not apply for something like the AmEx - 16 months or M&S - 15 months... Alternatively scour the best buy purchase cards table on moneysupermarket. (£20 quidco on the amex also)

Also, dont pay the card off immediately when you return from holiday - just put the money into a savings account and pay off the card at the end of the 22 months - therefore making a profit from the interest on the savings account. (You must make the minimum payments on the CC tho - so best way is to setup a direct debit).

Ganga

Thanks,cpjackso,normally pay off card over 6 months or so,i know i can pay in one lump but begrudge paying out about 2k from bank account when can do it over a short peroid of time and leave the bulk in the bank ( looks good from the bank,s point of veiw )

Regards Ganga