Credit Card Difficulty Ratings *Opinions/Experiences Needed*

Maestro.

YorkshireBoy wrote: »

Still, they must be doing something right because profits are very good. When you think about it though they shouldn't be that good because most applicants are supposed to be using these products for credit-building. Whereas, in reality, a great many of them must be rattling up a load of debt...otherwise Vanquis et al would be going out of business!

Quite. Apparently they make most of their money from interest, if that, ahem "document" is to be believed.

Their high profits are also to do with their risk assessment and lending model. It requires a lower ratio of "good to bad" customers to keep Vanquis going than it does a prime lender, because of the low credit limits and high APRs, and the way they reward people who have HIGH sustained balances.

jon142

BugsyBrowne wrote: »

Jon can you explain why someone with good credit will find it hard to obtain an M&S credit card as its no different to any other mainstream credit card & same with lloyds.

It's pretty obvious if someone with a bad credit rating gets turned down for a card of course they are going to say its hard to get accepted.

In my opinion, the m&s card is hard to originally get accepted for.

But once you have the foot though the door it's easier for credit limit increases. M&s has one of the market leading 15 months 0% it's going to be harder to obtain than others. They can be picky!

Lloyds Amex is also difficult to be accept for IMHO

Maestro.

jon142 wrote: »

Lloyds Amex is also difficult to be accept for IMHO

AmEx is for rich people though?

BugsyBrowne

trikidy wrote: »

This is a thread that aims to list all the major credit cards available, and judge their difficulty in obtaining them on the experience of MSE users. This will help people in judging what they have most chance of being excepted for, without creating unnecessary searches on their credit files.

If users can post which cards they have been accepted/rejected for, we can come up with an average difficulty for each card. Also if users have suggestions as to moving a card above or below another feel free to say, similarly any comments will be appreciated.

If you have been with your bank for a reasonable amount of time, they may be the best place to apply first.

This is just a rough estimate, of course each company will judge each person differently, this is just to help band together similar types of cards.
Easiest cards are meant for those with little credit history, these cards will tend to be accepted easier than other types of cards. Also these should be the first port of call for those with bad history.
Medium cards could be categorised as those that people with a generally good history of credit should be accepted for. These will usually require a reasonable annual wage to be accepted, along with a good past credit.
Hard cards could be categorised as those requiring a higher than average wage to be accepted, along with a good history of credit, being on the electoral role is essential for these cards.

Easiest Cards to obtain Easiest down to hardest
Capital One Classic
Vanquis- Lenient on Electoral Roll Status
Aqua
Capital One Progress
Barclaycard Initial

Medium Cards to obtain Easiest down to hardest
The AA Credit Card
M&S Money - Easy on the credit limit increases
Sainsburys
Tesco's
Nationwide
Natwest

Harder Cards to obtain Easiest down to hardest
Virgin
Lloyds TSB Amex Card
Barclaycard Platinum
American Express

Don't take this the wrong way but this has got to be the silliest thread ever I mean how the hell do anyone know how barclaycard platinum is harder to obtain then a sainsburys credit card.

This thread is in no way helping anyone as people's own credit files are totally different.

guesswho2000

keeleyjadex wrote: »

I have good credit - Instantly accepted for Natwest, Tesco (even though this is meant to be difficult), Sainsburies and recently Nationwide.

Flat out denied by Virgin and Barclaycard had to access my application further.

It's confusing. I don't think any are easy or hard to get hold of. Previous applications show that I can get card that some people deem 'difficult' but get refused for 'Medium' cards?

Agree with keeleyjadex's last paragraph, it is confusing, Natwest, Virgin, Barclaycard accepted me for CCs, Nationwide accepted for a mortgage but declined for a CC one month previously, Tesco declined outright (all at different times, I didn't apply for all these CCs on the same day!) It sometimes seems to depend which way the wind is blowing!

trikidy

BugsyBrowne wrote: »

Don't take this the wrong way but this has got to be the silliest thread ever I mean how the hell do anyone know how barclaycard platinum is harder to obtain then a sainsburys credit card.

This thread is in no way helping anyone as people's own credit files are totally different.

I think your comment is more silly as everything you say, I have already said. You say:
This thread is in no way helping anyone as people's own credit files are totally different

I have already said:

This is just a rough estimate, of course each company will judge each person differently, this is just to help band together similar types of cards

and you say:

how the hell do anyone know how barclaycard platinum is harder to obtain then a sainsburys credit card.

I have already said:

If users can post which cards they have been accepted/rejected for, we can come up with an average difficulty for each card.

That way we can say that less people have been accepted for a certain card, but the same applicant has been accepted for a different card.

I don't see why this is so offensive for you, just trying to help peopl out because I know my first credit card application was for Tesco, which I know now is harder to get than Capital One, so if I had known that then I would have less searches. Simple really.

jason1231972

My profile is as follows:

Low income (12.5k), low-debt. No missed payments, CCJs, etc.

Occasional credit card usage for large purchases. I'm opposed to paying interest, so interest-charging cards are always paid off immediately. However, with 0% cards I have been known to hold relatively high balances until the promotional period is over.

This is what I've had, or currently have:

Aqua (settled and closed) - started off with about a £250 limit, which increased to well over £1,000 within a year or so

Capital One (Classic, I think) - currently in use - started off with about a £400 limit, which has increased very slowly over about 6 years, to £1000 or so

Lloyds TSB - currently in use - applied recently. £1500 limit. Not sure on APR, but it's not promo. I bank with Lloyds TSB

M&S - currently in use - applied recently. £2500 limit, 0% purchases for 15 months

Tesco - currently in use - applied recently. £2500 limit, 0% purchases for 16 months

Vanquis (settled and closed) - started off with £200 limit, which never increased at all

Virgin/MBNA (settled and closed) - started off with £2000 limit, 0% balance transfer for xx amount of months (18? I can't remember)

The reject list:

Barclaycard Initial - applied recently - provisionally accepted, pending ID, then offer withdrawn (no reason stated)

trikidy

jason1231972 wrote: »

My profile is as follows:

Low income (12.5k), low-debt. No missed payments, CCJs, etc.

Occasional credit card usage for large purchases. I'm opposed to paying interest, so interest-charging cards are always paid off immediately. However, with 0% cards I have been known to hold relatively high balances until the promotional period is over.

This is what I've had, or currently have:

Aqua (settled and closed) - started off with about a £250 limit, which increased to well over £1,000 within a year or so

Capital One (Classic, I think) - currently in use - started off with about a £400 limit, which has increased very slowly over about 6 years, to £1000 or so

Lloyds TSB - currently in use - applied recently. £1500 limit. Not sure on APR, but it's not promo. I bank with Lloyds TSB

M&S - currently in use - applied recently. £2500 limit, 0% purchases for 15 months

Tesco - currently in use - applied recently. £2500 limit, 0% purchases for 16 months

Vanquis (settled and closed) - started off with £200 limit, which never increased at all

Virgin/MBNA (settled and closed) - started off with £2000 limit, 0% balance transfer for xx amount of months (18? I can't remember)

The reject list:

Barclaycard Initial - applied recently - provisionally accepted, pending ID, then offer withdrawn (no reason stated)

Thanks very much Jason, this is very useful!
People can see this and judge if they are similar to your circumstances.
I will add these to the list!

Maestro.

BugsyBrowne wrote: »

Don't take this the wrong way but this has got to be the silliest thread ever I mean how the hell do anyone know how barclaycard platinum is harder to obtain then a sainsburys credit card.

This thread is in no way helping anyone as people's own credit files are totally different.

Your posts generally don't help anyone but you carry on doing it.

Thread serves as a guide only.

Maestro.

trikidy wrote: »

This is a thread that aims to list all the major credit cards available, and judge their difficulty in obtaining them on the experience of MSE users. This will help people in judging what they have most chance of being excepted for, without creating unnecessary searches on their credit files.

If users can post which cards they have been accepted/rejected for, we can come up with an average difficulty for each card. Also if users have suggestions as to moving a card above or below another feel free to say, similarly any comments will be appreciated.

If you have been with your bank for a reasonable amount of time, they may be the best place to apply first.Depends on bank!!! Mine completely ignored internal history and my appeal even stated only that they couldn't credit score me. They didn't seem to take my internal history into account at all and treated me as a new customer throughout

This is just a rough estimate, of course each company will judge each person differently, this is just to help band together similar types of cards.
Easiest cards are meant for those with little credit history, these cards will tend to be accepted easier than other types of cards. Also these should be the first port of call for those with bad history.
Medium cards could be categorised as those that people with a generally good history of credit should be accepted for. These will usually require a reasonable annual wage to be accepted, along with a good past credit.
Hard cards could be categorised as those requiring a higher than average wage to be accepted, along with a good history of credit, being on the electoral role is essential for these cards.

Easiest Cards to obtain Easiest down to hardest
Capital One Classic- Fairly slow on credit increase
Vanquis- Lenient on Electoral Roll Status, Slow on credit increase Depends on how you use it, if you regularly utilise the card and more than 50% of the limit you can get increases, mine came after the fourth statement.
Aqua- Credit limit upgrade easier than others
Capital One Progress
Barclaycard Initial

Medium Cards to obtain Easiest down to hardest
The AA Credit Card
Tesco's
M&S Money - Easy on the credit limit increases
Sainsburys
Natwest
Nationwide
Virgin

Harder Cards to obtain Easiest down to hardest
Lloyds TSB Amex Card
Barclaycard Platinum
American Express

Worth noting my edits in red.