Credit application rejected - what can be done

maximise

Dear fellow msexperts,

What could I do to rectify my credit rating in order to be successful in any future card application?

I have recently applied for a balance transfer card, twice a month ago with one product, and once more this month with a different product, each time my application rejected.

I have been successful in all past credit card applications.

I decided to obtain a credit report from equifax, I appear to have "1 payment late" on one of my credit cards in July 2012. I believe this was due to having insufficient funds on the day of the standing order collection.

I shall contact the particular lender to find out what steps I can make to rectify this on my report.

In the mean time I look forward to hearing from you.

Yours,

maximise

BugsyBrowne

You had insufficient funds in your account this then counted towards a late marker and you've decided to ask the lender to remove this.

Now tell me why on earth would the CRA do this when you pis*d up.

They have correctly gave you a late marker.

Mrkelly333

Think if you hold out for a few months with ur payments up to date you will find you will be back on track.

Do be careful of applying too many times in a month this can go against you also. I learned that the hard way

Mrkelly333

Think if you hold out for a few months with ur payments up to date you will find you will be back on track.

Do be careful of applying too many times in a month this can go against you also. I learned that the hard way[/QUOTE]

bengal-stripe

You've furthermore damaged your credit rating with three applications within the last month.

maximise wrote: »

What could I do to rectify my credit rating in order to be successful in any future card application?

Stay off any new applications for at least half a year.

Fruit_and_Nut_Case

maximise wrote: »

[...] I believe this was due to having insufficient funds on the day of the standing order collection.
[...]

I think *most people here would recommend that you set up a Direct Debit rather than a Standing Order for credit card payments.




*Other than those who would recommend neither. You know who you are.

lisyloo

You will not be able to get a correct late payment marker removed.
You failed to pay on time and that is correct history.

You need to stop applying and also pay on time.
It's the repeat application plus the late payment marker that are hurting.
You need to wait for the effect of these to dimish.
If you pay on time you will also build good history, so sorry but it's going to take time.

You cannot remove correct information - its the truth and you cannot change it.

maximise

Thanks all, will stay off applications for 6+ months.