Nationwide

Aaronku

Hi all,

Not sure if I'm in the right place but I'm just after some advice! I have banked with nationwide for the last 15 or so years and I recently took out a mortgage with them.

Whenever I have been to the bank they have always pestered me to have one of their credit cards (especially once my mortgage had completed) anyway I applied for one about 2 weeks after my mortgage had gone through and much to my and the bank managers amazement I was refused! he assured me that it was because I had just had my mortgage accepted and it was nothing to worry about.

Now the time has come for me and my partner to buy a second car but unfortunately equifax or whatever they are called are saying that I only score 5 out of 10 on there credit system! is this because I was refused the credit card? is it because I have only been paying a mortgage for 2 months? will my credit score improve whilst paying my mortgage and for how long will that refusal show on my credit score?

Should I be writing a letter of complaint to nationwide? I was quite content with the card I have already got which I had just finished paying off!

Please give me some advice or share your stories if you have had similar!

Cheers Aaronku

CLAPTON

what exactly do your credit files show?


and they won't show you were rejected by nationwide CC, only that a search was carried out.

Aaronku

Not sure but when i carried out a search on this website equifax only scored me 5 or 6 out of 10. Not sure what this means but i can only assume its because i was refused as i never really had a problem before?!

CLAPTON

get copies of your credit files from all three credit agencies

maybe you aren't on the electoral roll; who knows

jo-bo

It's more than likely dropped your score down because you've just taken on the mortgage.
Don't worry too much about your credit score ( these companies don't lend you money ), just make sure that all (If any) other borrowing is paid and upto date and make sure you are on the electoral role ( if you've moved house!).

sfax

If you moved 2 months ago (assuming you didn't already live there) you

a. haven't been at your current address for long enough so will be considered high risk and;

b. are unlikely to be on the electoral roll yet.

Wait until you are on the electoral roll (assume you have already applied to be added) and it is showing on your Experian credit report as your current address (Nationwide will search Experian for credit cards). Even then you are still seen as a higher risk for the first 2 years at a new address. With the benefit of hindsight you'd have been better off applying whilst you were still at your old address

You now have 2 searches in the last 6 months so I would wait at least 4 months before applying for a new card. >2 searches in 6 months is seen as desperate to get credit (regardless of whether the application was successful or not)