Why can I no longer get a credit card? Refused twice

niceguyed

Hi MSErs

In the last 2 months I've just been refused two credit cards and am at a bit of a loss/concerned as to why? One was American Express a couple of months back and just recently Natwest. Now, I have a pretty good credit history over the past 5 years. I've had about 4 different credit cards (some 0% balance transfer paid off over several months) and the one I have now used and generally paid off in full each month (sometimes several months for big purchases). I've never been late or incurred charges on a credit card apart from two occasions. One was 6 years ago with 2 late payments for a student barclaycard and 1 late payment when I was abroad with a Capitalone card (Sis forgot to pay, grr). Since those indiscretions I've been a good lad:D
Never any charges on current account, never had a loan, in work earning a goodish wage, mortgage for two years no probs. I've opened savings accounts recently with no problems either. I had some fraud on my current account 6months ago, so I ordered my credit reference file with Experian which showed nothing out the ordinary and was accurate. However my Father was made Bankrupt in Feb although he resides at his own address which I am/have never been linked to.

Since the last two knockbacks I'm a bit concerned about applying for another credit card. I've just applied for my equifax report.

I used to work for a credit card company so I'm aware of individual lender criteria rather than the generalised credit score terminology. It just seems odd as I would have thought based on the above I'd be OK. Plus I'd never been turned down for anything before until two months ago! Boo Hoo I know

So, I know Natwest and AE won't tell me anything so just wanted any comments, thoughts, opinions...........

Thanks for reading. Niceguyed.

inmypocketnottheirs

Check also with Call Credit as their files may be different.

Are you on the electoral roll?

Do you currently have any credit? Loans or cards? Mobile contracts?

niceguyed

inmypocketnottheirs wrote: »

Check also with Call Credit as their files may be different.
I didn'tthink too many lenders used call credit for referencing including Natwest and American Express, could be wrong though. I think you're right that it's worth checking.
Are you on the electoral roll?

Yes, details held are correct. I live in a new build so we are the first to be registered at this address.

Do you currently have any credit? Loans or cards? Mobile contracts?

1 credit card, 0 balance. Capitalone
No loans
2 current accounts (hsbc, Nationwide)
Mobile phone on DD with Virgin , though now PAYG though I think they credit referenced me when I did have a contract with them.



My current guess is that I may not be the most profitable customer and I have never had any financial products before with Natwest or American Express. Though something is nagging at the back of my mind t could be something else

MPH80

niceguyed wrote:

Yes, details held are correct. I live in a new build so we are the first to be registered at this address.

Aha - this *MIGHT* be part of the problem. In a brand new new-build the postcode will be new too - the PAF file produced by the post office is released on a regular basis and then cleaned up by various companies to produce the address databases everyone uses.

However, this does result in a few months lead time on the address DBs making it to companies and then normally another bit of a delay getting it into the systems.

As a result, if the bank doesn't know about your postcode, it might be rejecting you for lack of 'area' data.

I'm not in banking - but it's just a guess.

M.

niceguyed

Property was finished in Oct 05 which is when we moved in. It was about 6 months before companies started finding our new postcode on their database. Haven't had any problems reg finding our postcode with any company (that I've contacted) for about 7 months.

It could be there are a few late stragglers. I've been on the electoral roll since Jan 06 so even with postcode difficulties my guess is that they could confirm I live at that address. This address is also registered with the banks etc so I'm not sure if it is this problem of the new build/new postcode?

MPH80

That length of time should allow the postcode to come through.

I do some work on addressing systems and I know we end up about 6 months behind the curve at worst (although right now we're 9 months - but that's our fault).

I can't really explain it. The only thought is that we are undergoing a credit tightening and you might just be on the wrong side of the two lender's policies.

M.