argos card application declined

tkwad

I tried to apply online for an argos card the other night. I was able to answer yes to all the questions of the first page, but as i got through i clicked i was a student and it then on next page asked for my employers name and there was no way past this. So i went back and clicked on houseperson, carried on through and was decined, but offered a credit card with n initial amount of £500 which i declined....

Im just concerend why this has happened.....Ive always had good credit rating, never been turned down for any financial product, i have 2 credit cards and catalogue account, no defaults,
I private rent, and my partner has a good salary
can anyone give a possible reason why?

Osarkon

Argos seem very picky with their cards as of late. I applied for one roughly 4 months ago and was declined.

In full time employment and have been with the same employer for almost 5 years, good credit history. No idea why I was declined.

tkwad

just received an email to say after careful consideration they couldnt offer me a card at this time, but if my circumstances change i can reapply.....

chanz4

but others post you can get it with defaults, I said you couldnt

Osarkon

I wonder if it depends on whether you own your property I.e mortgage as opposed to rent?

BugsyBrowne

Osarkon wrote: »

I wonder if it depends on whether you own your property I.e mortgage as opposed to rent?

Nothing to do with it.

rb10

BugsyBrowne wrote: »

Nothing to do with it.

Really? Many other lenders will take residential status into account when assessing an application.

BugsyBrowne

rb10 wrote: »

Really? Many other lenders will take residential status into account when assessing an application.

Well its never been the case with me and I rent.

rb10

BugsyBrowne wrote: »

Well its never been the case with me and I rent.

A lender will not tell you whether renting or owning a home counted positively or negatively on your application.

Renting will, however, often lower your application score.

eddddy

tkwad wrote: »

...can anyone give a possible reason why?

It's not just your circumstances that are taken into account, it's the lender's circumstances as well.

Home Retail Group Card Services Ltd run both the Argos Card and the Homebase Card. According to a recent business review, their cardholders have a total of £457m in outstanding balances.

It may be that they don't want to lend much more money at the moment, (maybe they want to invest their money in other aspects of the business), so maybe they are rejecting lots of applications.

Perhaps at another time in the past they were more keen to lend money, so getting a card was easier. And they may become keener to lend again, at some point in the future.

The above is pure speculation, but a good indicator is how much they are advertising the card. If they're advertising it a lot, they're probably keen to open new accounts and lend more money - and it may be easier to get accepted. If they're not advertising it much, they're probably not keen on opening new accounts - and it may be harder to get accepted.

Of course, this holds true for all banks and CC companies.

BugsyBrowne

Well if renting does lower your score it certainly hasn't caused me any problems before.