NatWest credit card rejection

faceuptoit

Hi all

Recently got declined for a NatWest CC at 0%.

Stats:
Salary £38,000
1 x Amex card (limit £1500)
1 x M&S card (limit £3500)

Checked my credit rating at Equifax, Experian and everything is green except Virgin Media showing a late payment. This was due to their fault so I disputed it (and it's now been removed) and appealed the credit card rejection with the following info:

Statement showing my M&S card is being quickly paid off (almost £1000 paid off last month) and stated I wanted to close the account and replace it with NatWest
P60 showing salary
Bank statements showing regular DD payments
Direct debit confirmation from Virgin Media and full explanation of their error over the 'late' payment
Evidence of being on electoral roll

My questions are:
1. Does this seem like enough to get decision overturned?
2. It's been around 3 weeks and I've heard nothing back - does this mean it's a no?
3. Will I now find it really hard to get a 0% card, having been rejected for one?

bigadaj

What are your total debts, they seem low from what you report. No obvious reason for a decline unless you have unstated commitments, the only question is whether it is worth appealing, or just looking elsewhere, up to three credit searches wihtin a month or two is unlikely to have an adverse effect.

faceuptoit

No other debt at all - only student loan which obv isn't taken into account. I think it's fairly low, using 700/1500 of Amex and 2000/3500 of M&S.
Already appealed, but may just apply elsewhere. I also had a CC since I was 18 (so 5 years) which has a full up to date payment history, so I thought I'd have a good credit rating (and definitely thought Amex would be harder to get than NatWest)...

Amex paid in full each month and M&S paid off at rate of £400/month (it's at 0% so will be paid off in full by expiry of 0% period). I just want a new 0% CC to buy a holiday on.

Oh - edit - also have £750 in 0% overdraft, which I don't really use.

chanz4

Natwest are a strange bunch I cant get it, however the same card under rbs I did....

aylithuk

Just remember that lenders also take into account your available credit too. So if you have credit that your not using the lenders (NatWest) will be asking why does this person need credit when they already have xxx available to use. In your case you have £3050 which might be classed as a lot and they might of declined for this reason.

bigadaj

aylithuk wrote: »

Just remember that lenders also take into account your available credit too. So if you have credit that your not using the lenders (NatWest) will be asking why does this person need credit when they already have xxx available to use. In your case you have £3050 which might be classed as a lot and they might of declined for this reason.

Very unlikely, total available credit is low in relation to salary, reducing available credit would then have the opposite effect as the proportion of debt to available credit could then be too high.

trikidy

If you bank with Natwest and your overdraft is with them that could be why, for being in the overdraft you will have a poor score with them. Thats all I can think.

faceuptoit

When I applied had around £3000 on M&S card. Not with NatWest for anything else. Overdrafts don't show up on Equifax. The only thing I can think of is Virgin Media.

How long should I expect to wait for outcome of appeal?