Does allowing credit card application to lapse negatively impact credit score?

ToTo_Man

I recently applied online for a Lloyds Platinum 21-month 0% Balance Transfer card. I was then requested to bring proof of identity to my local branch, which I did, and the manager assured me that he would forward my details onto the relevant dept to allow my application to be approved. This was over 2 weeks ago and last night I received an SMS from Lloyds informing me that they still haven't received my details. I really don't have the time or patience to go through this hassle again, so I'm thinking about taking my business elsewhere and instead applying for the RBS 26-month 0% Balance Transfer Card.

Will the fact that I applied for a Lloyds card in the past month (but allowed the application to lapse) negatively impact my application for an RBS card?

[Deleted User]

A little, in terms of it being an additional search. Its impact will depend how borderline a case you are.

But the fact your Lloyds app was referred might suggest you'd be better off sticking with their offer.

InsideInsurance

ToTo_Man wrote: »

Will the fact that I applied for a Lloyds card in the past month (but allowed the application to lapse) negatively impact my application for an RBS card?

They wouldnt expect to see the outcome of the previous with another lender in such short timescales and so all they will know from your file is that you've made an application for another credit card so will factor that in when considering if to give you a card and what potential limit to give you.

As said, the number of other apps you've made in the last 6 months will also be a factor

ToTo_Man

OK thanks. Sounds as though I may be best to persevere with the Lloyds application.....

YorkshireBoy

ToTo_Man wrote: »

OK thanks. Sounds as though I may be best to persevere with the Lloyds application.....

Be aware that the longer you leave it (to serve them with the required ID), the more likely it is that they'll make another credit search.

If you're then declined after all that, you're going to RBS with 2 recent searches on your file.

ToTo_Man

Ended up calling CS to try to sort things out and spoke to an extremely helpful advisor who went out of her way to try to resolve things for me. Had to take my details back down to my local branch but this time they co-ordinated with the relevant depts to ensure it was faxed, received and processed in real time instead of being sent by pigeon carrier (if only it had been done this way the first time!). Was even offered £30 as a goodwill gesture by the CS advisor which was an unexpected but welcome surprise ...

sharpy2010

ToTo_Man wrote: »

Ended up calling CS to try to sort things out and spoke to an extremely helpful advisor who went out of her way to try to resolve things for me. Had to take my details back down to my local branch but this time they co-ordinated with the relevant depts to ensure it was faxed, received and processed in real time instead of being sent by pigeon carrier (if only it had been done this way the first time!). Was even offered £30 as a goodwill gesture by the CS advisor which was an unexpected but welcome surprise ...

Make sure you send a letter of compliment to the advisors boss then!