Refused Credit Twice, What Should I Look For?

DJBenson

Erm - not personally (now).

I originally had a current account (with £300 overdraft) and a joint account (with £750 overdraft). Both the original personal and joint accounts were opened in 2007 at the same time as our mortgage - so Nationwide have a lot of history on us.

I closed the personal account and then a couple of months later opened 3xFlexDirect accounts but did not opt for an overdraft with them.

So in short, I don't have a personal overdraft with Nationwide.

p.s. just tried Experian with a new email and it still knew it was me (probably a good thing or else I'd question there data quality lol).

Once I've got all three reports, I'm going to go through them with a fine tooth comb. I'll check the MSE thread on which CRA's are used by which lenders and ensure they all check out.

The more I think about this, the more I'm intrigued from a technical perspective - if there is something giving off bad vibes, I want to know what it is and get it fixed...

leeroy2009

i have no overdraft with nationwide, but they gave me the select card no problem. and its very interesting especially in your case as to whats going on, time for a cup of coffee and a roast beef butty lol.

and ah, if nationwide still have a ton of history, they may just do a internal check on you, id keep the select card on your list - high chance they will give you one as that £5500 limit suggests, if the select card would be of any use to you that is.

ValHaller

DJBenson wrote: »

If it's not down to fraud (where I can appreciate the need to keep the reasons quiet) then it's not beyond the realms of reason for a lender to say "hey Mr X, we can see you've made a load of applications recently so for now we are politely declining your custom".

If the scoring is done by machine, no human will know why you were rejected. You could find that every single factor taken into account in the lenders' scoring would be acceptable as it is - provided some other factor was a bit different. So it would be difficult to automate extracting a coherent reason.

DJBenson

Just a quick update on this, having finally gotten my hands on reports from all three agencies, the only things that stand out on the reports are;

The number of applications this year (mainly on the Experian report) and
The fact I am financially linked to a my wife's maiden name (no idea if this is a problem or not).

Had a response from Santander (very quickly to be fair to them) saying the'd reviewed my appeal and the decision still stood - they entered into no dialogue at all on the points I'd put across.

Still not heard back from American Express...

I've no real need for any new credit for the foreseeable so I'll give me report time to cool off and do another round of statutory reports in 6-12 months to see if things improve.