Help with credit card decline reason

Needasolution

Sorry to just butt in but please can you tell me how to post something? Thanks x

IwasAlegend

Needasolution wrote: »

Sorry to just butt in but please can you tell me how to post something? Thanks x

If you mean a link you need more posts first.

sammie28

Needasolution - If you want to post your own question, click the 'New Thread' button. Ie if you want to post in Credit cards, click credit card section, then New thread which is at the top of the page on the left.

droiderm

IwasAlegend wrote: »

Total debt of 22k no chance of a CC.

I guess its relative to your income though ?
When you say 43k do you mean that's only your income ?
Maybe you should take this as an early warning ?
How much do you spend on debt every month compared in your income?

A lesson i have learned , not saying this applies to you , but getting cheaper credit or even more credit is not a solution . Is your debt increasing ?

sammie28

droiderm - my last post was in response to 'needasolution's question about how to post on the forum, not to IwasAlegend.

To answer your question, no my debt isn't increasing. I just thought that now that my ccj has come off my file and the 5 year old default is paid, that i would be able to get away from Vanquis. Just thought i might be able to get a better card with a lower interest.

RichL74

It's not just about the CCJ or the default dropping off though, its how you appear to them as a potential customer and having the exisiting debts with catalogues and cards, even if you are paying them, is going against you.

Until you ditch a couple of those then I dont think you can move forward and by ditching I mean not having them fullstop, not applying for a different card and then closing them down if you are successful - at the minute your debt to income ratio is going against you.

I know its a pain, it has taken me ten years (maybe longer, more like twelve) to get back from having nothing, not even a catalogue account let alone a sub-prime credit card (I stuffed up and owed thousands to Capital One for example - how low could I go?) I was that bad a risk Lloyds TSB took my £100 overdraft off me ten years ago, not that I miss it now.

sammie28

Thanks Rich, that is very helpful. I have closed my Lowest capital one card. Taken 2 requests to actually get it closed! I will work on paying off two of the catalogue accounts which, when closed reduces my debt by £1,050 and available credit by £7,500. The biggest of the debt is car hp. Very stupidly got a car from Carcraft, biggest mistake ever!! Won't be doing that again. Still owe £13,000 :eek: Unfortunately i still have 3.5 years left on that
Thanks for all your help. I know what i need to be doing now

sammie28

After a long day at work, I came home to an email from Creation saying that they had taken another look at my application! RESULT :j:j
Appeal letter worked wonders, overturned the decline and given me a £2000 limit with the advertised 12 months %.
Rang them to and sorted out the balance transfers from Cap 1 and Vanquis. Feels so good to be saying good bye to thise high interest rates.