Declined Halifax Credit Card but good credit score..

sivs

I had the same issue, Halifax declined me so I went to Tescos and they instantly accacepted.

My they caught on to the fact that I only use their current account for the £5 a month.

Will not be giving them anymore of my business :j:j:j:j

Experian_company_representative

Ask the lender to tell you the principle reason for saying no. Industry guidelines require them to do this, if you ask. It could well be down to your overall score not quite reaching their passmark, but it could also be due to a more specific reason. Either way, they should be able to tell you.

Your Experian Credit Score helps you understand how your credit history is likely to affect a lender's decision but, as others have said, lenders' scores typically assess some additional data sources too. This can include data about someone you're financially linked to for example.

James Jones

HoneyAndLemon

Experian_company_representative wrote: »

Ask the lender to tell you the principle reason for saying no. Industry guidelines require them to do this, if you ask. It could well be down to your overall score not quite reaching their passmark, but it could also be due to a more specific reason. Either way, they should be able to tell you.

Your Experian Credit Score helps you understand how your credit history is likely to affect a lender's decision but, as others have said, lenders' scores typically assess some additional data sources too. This can include data about someone you're financially linked to for example.

James Jones

Will you please stop telling people that lenders should be telling people why they have been declined? No advisor either in a call centre or in the branch will be able to see the reason, other than a general 'failed credit score' etc in which case they will advise the customer to get a copy of the their credit report. There will obviously be a specific reason for it, but no staff member will be able to see why, and even if they could they couldn't tell the customer why, as this will allow people to simply alter the application next time in their favour.

YorkshireBoy

HoneyAndLemon wrote: »

Will you please stop telling people that lenders should be telling people why they have been declined? No advisor either in a call centre or in the branch will be able to see the reason, other than a general 'failed credit score' etc in which case they will advise the customer to get a copy of the their credit report. There will obviously be a specific reason for it, but no staff member will be able to see why, and even if they could they couldn't tell the customer why, as this will allow people to simply alter the application next time in their favour.

I don't think Mr Jones was suggesting that people ask a bank cashier or the call centre operative that picks up the phone.

As he says, "industry guidelines" (presumably the lending standards code?) say the lender must provide this information if requested. Obviously this request would be best put in writing (there's usually an appeals address on any correspondence). Equally obviously, they aren't going to say specifically, but they should state the primary reason, for example over-indebtedness, existing limits considered sufficient, or simply "you don't meet our credit score requirements". The last one will usually be given (which obviously isn't a great deal of use!), but I've been given the first two when I've asked.

matttye

HoneyAndLemon wrote: »

Will you please stop telling people that lenders should be telling people why they have been declined? No advisor either in a call centre or in the branch will be able to see the reason, other than a general 'failed credit score' etc in which case they will advise the customer to get a copy of the their credit report. There will obviously be a specific reason for it, but no staff member will be able to see why, and even if they could they couldn't tell the customer why, as this will allow people to simply alter the application next time in their favour.

Every time I've had a rejection they've said 'because of the information contained in your credit reference agency files' (or words to that effect), which IS a reason.

Presumably if they had rejected me because I didn't earn enough, they would say so.

As far as I know lenders aren't permitted to say WHAT in your credit reports caused them not to lend to you.

YorkshireBoy

matttye wrote: »

Every time I've had a rejection they've said 'because of the information contained in your credit reference agency files' (or words to that effect), which IS a reason.

That's a bit of a get out for them though, and is sometimes very wrong to suggest it.

For example, I've recently been adding to my collection of current accounts. I wanted 4 Nationwide FlexDirect accounts. When I applied for the first, I already had 16 current accounts and was accepted. The 2nd and 3rd applications were also accepted. The 4th (I had 19 accounts at this point) was rejected, and when the letter arrived it suggested I view my Experian file.

The thing is I *know* why I was rejected...it was because I already had a FlexAccount, and the 3 FlexDirect accounts brought me to 4. Nationwide's policy is a maximum of 4 accounts per customer (confirmed in the T&Cs), but I was chancing my luck!

Had I bought an Experian report I'd have wasted my money, and to suggest I did so was wrong of them in my opinion.

Presumably if they had rejected me because I didn't earn enough, they would say so.

That's one reason they most definitely won't confirm...because the customer may be tempted to inflate their income on the next application!

As far as I know lenders aren't permitted to say WHAT in your credit reports caused them not to lend to you.

Yes they are. See my earlier post re "over-indebtedness". The ONLY place they could have got information to decline on that basis was my credit report...where it was plain to see that I was (absolutely) over-indebted (with stoozing debt!).

matttye

YorkshireBoy wrote: »

That's a bit of a get out for them though, and is sometimes very wrong to suggest it.

For example, I've recently been adding to my collection of current accounts. I wanted 4 Nationwide FlexDirect accounts. When I applied for the first, I already had 16 current accounts and was accepted. The 2nd and 3rd applications were also accepted. The 4th (I had 19 accounts at this point) was rejected, and when the letter arrived it suggested I view my Experian file.

The thing is I *know* why I was rejected...it was because I already had a FlexAccount, and the 3 FlexDirect accounts brought me to 4. Nationwide's policy is a maximum of 4 accounts per customer (confirmed in the T&Cs), but I was chancing my luck!

Had I bought an Experian report I'd have wasted my money, and to suggest I did so was wrong of them in my opinion.

Maybe they do a credit check before using their own internal data?

YorkshireBoy wrote: »

That's one reason they most definitely won't confirm...because the customer may be tempted to inflate their income on the next application!

True, was silly of me to say so. My point was that they will probably sometimes give reasons outside of what's contained in credit reports.

YorkshireBoy wrote: »

Yes they are. See my earlier post re "over-indebtedness". The ONLY place they could have got information to decline on that basis was my credit report...where it was plain to see that I was (absolutely) over-indebted (with stoozing debt!).

I shredded it but I'm pretty sure a rejection I had from FirstDirect said they're not permitted by the CRA's to say exactly what in the credit reports caused them to refuse the application.

If they did so, why would anybody order their credit reports if the lenders can just tell them why they were rejected? The CRA's would be out of business!