Credit Card Decline Help

Buxem

Hi all

I have just applied for two credit cards, yet been rejected on them both. My credit history is good - I have some savings (albeit very minimal at the moment), a mobile phone contract and 1 credit card. The credit card has a £600 limit (£200 currently free) and I was applying for another credit card as the current one is coming to the end of its 0% interest free period and I was preparing to be a 'card tart'.

Following Martin's advice, I have double checked my credit file (all fine), and the other things to check (registered for council tax, etc) and all is fine.

Can anyone think as to why this might be? Is this simply because I am 'low risk'?

dazza.mk

Buxem wrote: »

Hi all

I have just applied for two credit cards, yet been rejected on them both. My credit history is good - I have some savings (albeit very minimal at the moment), a mobile phone contract and 1 credit card. The credit card has a £600 limit (£200 currently free) and I was applying for another credit card as the current one is coming to the end of its 0% interest free period and I was preparing to be a 'card tart'.

Following Martin's advice, I have double checked my credit file (all fine), and the other things to check (registered for council tax, etc) and all is fine.

Can anyone think as to why this might be? Is this simply because I am 'low risk'?

Are you registered on the Electoral Roll (ratehr than Council Tax).

You do have minimal credit history from the above as only a mobile contract and credit card is relevant.... Of which the details are showing you've currently used 66.66% of the available credit (not good)

Tixy

Which cards did you apply for and get rejected by?

Did you check if they have minimum income/age criteria and if you meet it?

You will not have been declined for being low risk - low risk is what credit card lenders like.

Buxem

dazza.mk wrote: »

Are you registered on the Electoral Roll (ratehr than Council Tax).

You do have minimal credit history from the above as only a mobile contract and credit card is relevant.... Of which the details are showing you've currently used 66.66% of the available credit (not good)

As per my post - yes, I checked council tax.

Whilst my current credit file is minimal, previously it hasn't been and I have continually had at least 2 things since the age of 18 to build up a credit history.

Buxem

Tixy wrote: »

Which cards did you apply for and get rejected by?

Did you check if they have minimum income/age criteria and if you meet it?

You will not have been declined for being low risk - low risk is what credit card lenders like.

Tesco and Halifax. I met the criteria of both... or so I believe.

Credit card lenders like to make money, I don't allow them too.... :A

CLAPTON

what do you earn?

MABLE

Buxem wrote: »

Credit card lenders like to make money, I don't allow them too.... :A

Well there lies your answer!

Buxem

CLAPTON wrote: »

what do you earn?

What I earn is irrelevant considering it met the minimum criteria of both cards, and I was given a £5,000 credit limit on my current M&S card prior to my payrise. As per my previous post, this limit is now reduced to £600, with £400 currently on the card.

dazza.mk

Buxem wrote: »

As per my post - yes, I checked council tax.

Council Tax and Electoral Roll are different things, hence I was clarifying.

Also which credit agency file did you check? (or all 3)

dazza.mk

Buxem wrote: »

What I earn is irrelevant considering it met the minimum criteria of both cards, and I was given a £5,000 credit limit on my current M&S card prior to my payrise. As per my previous post, this limit is now reduced to £600, with £400 currently on the card.

I've previously had an application go to a manual check with MBNA when I reduced a limit on an exitsing card from £6,000 to £4,000 (obviously querying if this was due to financial difficulty). If this was done some time ago then all the lender will see is you have a history of dealing with a £600 limit ratehr than £5,000

Buxem

dazza.mk wrote: »

Council Tax and Electoral Roll are different things, hence I was clarifying.

Also which credit agency file did you check? (or all 3)

I included it within the "etc"

Experian. Checked about 5 months ago, but the only thing which has changed is that my current credit card limit is reduced and loan payments have finished, so in theory I should have more credit available.