If I were to be declined...

FreddieFrugal

Hello there,

I've currently got a Capital One classic extra credit card but fancy getting myself an American Express Platinum Everyday for the increased cashback and probably higher limit over time.

I have an income (at the moment) of over 20k as it asks for. Combined with partner's income it's over 40k.

I've used the MSE eligibility checker and come out at 50% (just using my details and income)

If I were to apply and was not successful would this do any long term damage to my credit chances in the future. We're hopefully not too many years away from applying for a mortgage.

My other question would be: since my employment is currently on a fixed term contract but partner's is a permanent contract would it be better to have her apply for the card instead. She hasn't had a credit card in the past so that could be good re credit history for the future anyway.

reclusive46

First of all, your partner will not be approved if she's never had credit history before.

One credit search will really not affect you very much, credit searches also disappear off your report after 12 months.

I wouldn't pay a huge amount of attention to the eligibility checker.

Amex's criteria can be quite strict for their credit cards, the charge cards are quite easy to get though.

FreddieFrugal

Thanks for response. So a rejection isn't recorded on report? Just the search?

May just apply anyway in that case. I've got a good credit history - the only things highlighted as negatives in the past was the fact that my oldest bank account isn't very old. That's just due to my age though. Don't have any missed payments or anything.

BugsyBrowne

IanRi wrote: »

Thanks for response. So a rejection isn't recorded on report? Just the search?

May just apply anyway in that case. I've got a good credit history - the only things highlighted as negatives in the past was the fact that my oldest bank account isn't very old. That's just due to my age though. Don't have any missed payments or anything.

It's a big jump from Cap1 Extra to an Amex it begs the question why you've got a Cap1 credit card extra which is normally for those with not the best credit history's .

FreddieFrugal

BugsyBrowne wrote: »

It's a big jump from Cap1 Extra to an Amex it begs the question why you've got a Cap1 credit card extra which is normally for those with not the best credit history's .

Because it was my first credit card. I wanted to get a cashback card, seeing as I use it like a debit card and pay off in full, that I knew I had a strong likelihood of being accepted for.

Also upto September I was working on a supply basis and so could not prove a set yearly income.

At the time a card which offered cashback without any fees or high income requirements was exactly what I wanted.

Now I'd like to get the AmEx because both I and my partner do have a set annual income and it offers a slightly higher rate of cashback without having to pay a fee.

FreddieFrugal

I got it! :j

5% cashback in time for Christmas

Alarae

IanRi wrote: »

I got it! :j

5% cashback in time for Christmas

Glad to hear OP!

I was going to to chime in with some encouragement as I was accepted two weeks ago, with just over a year's worth of credit card history (one catalogue before that) plus I'm a youngun' of 20.

I also went from Cap 1 extra to Amex as well, for the same reasons as you.

FreddieFrugal

Damn I should have checked Quidco first! Could have got £10 for the application :mad:

reclusive46

Glad to hear you got accepted!!! Welcome to the club!

Amex really are not that hard to get (Apart from Starwood credit card), they just don't like to see anything bad (Missed payments, defaults etc). They seem to be quite forgiving for those who have a limited credit history.

Also three Amex tips for you.

When making online transactions, remember the security code is the 4 digit code on the front of the card (On the right, the back 3 digits are normally not used, unless the website won't let you enter 4 digits).

If Amex is not accepted on a website but Paypal is, click paypal and then click checkout as a guest on Paypal and you can pay with your Amex just fine!

Don't ask a shop if they take Amex just put it in the machine and let the machine tell you, a lot of staff are useless due to poor training and will tell you they don't (As they don't know) when they do. Pets at Home and a lot of small shops are good at this. Although it does depend on where you are in the country, A lot of Londoners have Amex cards, so shop staff all know they take it.