refused for ' Halifax clarity' credit card

turquoiseshed

Hi
I have an 'excellent' score on my credit rating according to 'Experian' , and have not changed any of my circumstances since last successfully applying for credit cards/bank accounts. Despite this I have been refused a 'Halifax clarity' credit card which I applied for online. Has this happened to anyone else?
thanks in advance for your answers

ChopperST

Prepare to duck your head, there's no such thing as a credit score, just a credit history.

Reasons for refusals would be;

Not being on electoral role
High current borrowing (Circa > 50% of your income)
Previous defaults / late payments
Too may applications recently making you appear credit hungry.

By no means exhaustive but a good place to start would be to check your credit record to see if the data is currently correct.

Asking if it has happened to anyone else is like asking if anybody has crossed the road today as some people will have applied and been accepted and some applied and been refused, thats life...

You-kip

turquoiseshed wrote: »

Hi
I have an 'excellent' score on my credit rating according to 'Experian' , and have not changed any of my circumstances since last successfully applying for credit cards/bank accounts. Despite this I have been refused a 'Halifax clarity' credit card which I applied for online. Has this happened to anyone else?
thanks in advance for your answers

Don't matter what your score is on Experian as lenders don't see that number nor would they care. Its just a money making machine designed for the gullible where the higher your score the more prone you are to carry on your membership

ChopperST

^ warned you ^

turquoiseshed

Thanks for the reply & for correcting the word 'score', although on my Experian credit report, there was a link underneath the 'Excellent' saying 'View deals based on your Experian credit score' so thought it was ok to use this term- maybe that was an advert on the report, and not an Experian term?

- Yes I paid for an Experian credit rating 10 mins before applying for the card and it said 'Excellent' and the history was up to date with no defaults & only 12% of credit being used.

turquoiseshed

You-kip wrote: »

Don't matter what your score is on Experian as lenders don't see that number nor would they care. Its just a money making machine designed for the gullible where the higher your score the more prone you are to carry on your membership

Thanks -I think You-kip - I was under the impression Experian was a good indicator or credit worthiness - are you saying Experian are no good? Please clarify then I can cancel my membership.

ChopperST

You-Kip is merely pointing out that the monthly credit score schemes are pointless. You can access your credit report with call credit for free at noddle.co.uk or your statutary report from all 3 CRA's for £2.

You haven't answered any of the questions I posted so its going to be hard for the forumites to offer any suggestions if you dont explain what is in your report other than Experian see you as "excellent"

MoneySaverLog

All CRAs are useful for looking at what data they make available. The CRA score is just a random number of no significance

Halifax will also score you it's that score which is important and how they score you will be secret to them

Maestro.

ChopperST wrote: »

Not being on electoral role
High current borrowing (Circa > 50% of your income)
Previous defaults / late payments
Too may applications recently making you appear credit hungry.

And if none of these apply, and you meet the minimum income requirement, consider appealing. I think it's so cheeky that banks don't bat an eyelid at the thought of taking money off us (paltry interest rates, charges around every corner, "administration" fees), yet when we want to borrow we get fobbed off with a "computer says no" response, even if credit files are squeaky clean.

Dovah_diva

I got rejected for a Halifax Clarity card even though I have an account with them. Been less than a year though, so I'll wait six months and try again.

Thrugelmir

turquoiseshed wrote: »

& only 12% of credit being used.

Possibly there lies your answer. What other lines of credit do you available and how much is available?

Credit availability in relation to gross income is now used as a hurdle by lenders.