New Luma 4% cashback card (supermarkets and petrol)

derfo

Mithrandir48 wrote: »

Maybe you are right but it just seems disgraceful that I have ended up with a bad mark on my credit file because of that. In reply to the person that suggested I might have something bad lurking on my file - I appreciate your comment as I am trying to understand why this happened but I don't .

On re reading the rejection letter I see that they are saying that they do give additional products to some people who already hold a product but that in this case I failed the criteria for the product I applied for. I didn't even know I already held a product with them ! As I said in my earlier post, nowhere was it even mentioned that it was a capital one product. Had I known I wouldn't have applied. Surely I have a case for being misled or something. The first I knew it was a capital one product was when I receive the rejection letter.

Did you read the text in the pop up window before you filled out the form, especially the text under "Please read this information carefully before you apply:"

Who’s behind the Luma card
The Luma card is promoted by MI Money Limited and issued by Capital One (Europe) plc. MI Money Limited promotes the Luma card exclusively in partnership with Capital One.

Mithrandir48

derfo wrote: »

Did you read the text in the pop up window before you filled out the form, especially the text under "Please read this information carefully before you apply:"

Who’s behind the Luma card
The Luma card is promoted by MI Money Limited and issued by Capital One (Europe) plc. MI Money Limited promotes the Luma card exclusively in partnership with Capital One.

No I didn't see that but I'd say it wasn't there when I applied .

Biggles

Mithrandir48 wrote: »

Maybe you are right but it just seems disgraceful that I have ended up with a bad mark on my credit file because of that.

I can't see how you would have a 'damaged credit rating' or a 'bad mark' on your credit file, just because Luma were looking for certain types of customer, of which you didn't happen to be one. You've done nothing wrong.

callum9999

Mithrandir48 wrote: »

I applied for the Luma credit card, attracted solely by the 4% cashback. I have a very good credit score. I was turned down for the card. I can only assume that either they didn't "fancy" me as I have a good credit score and therefore would be very likely to repay in full (as I always do) , thereby earning them no interest, OR one of their criteria is that you mustn't already have a capital One card. As it happens I do have a capital one card already. However, had I known that the card was owned by capital One I would never have applied, as I would have realised that holding one of their cards would have resulted in rejection. But nowhere in the application process was any connection with capital one made clear. The fact that I already have a Capital One card was alluded to in the rejection letter ( though al it said was (we hope you will enjoy continuing to use your capital one card.Humph! )
This has really annoyed me, as I have now ended up with a damaged credit rating having applied with my good credit rating for a card that will accept people with a poor credit rating and having been refused. It seems grossly unfair. I suspect the main reason is that I already have a capital one card but they should make it clear that it's a capital one card. As I have said, I would not have applied if I had known.

Any thoughts or comments about the likelihood of succeeding in challenging this would be gratefully received, as to me it's miss-selling. I will be starting by asking for a written explanation but if anyone has any ideas......?

If your credit rating is as good as you say it is, this will have zero effect on it and will not damage it whatsoever.

And it should be blindingly obvious that it's a sub prime card targeted at those with a poor credit rating, so I don't know why you act like you were duped into applying. (The website also explicitly says that as long as you've had the Capital One card for 6 months, you're eligible to apply).

Atidi

Mithrandir48 wrote: »

I applied for the Luma credit card, attracted solely by the 4% cashback. I have a very good credit score. I was turned down for the card. I can only assume that either they didn't "fancy" me as I have a good credit score and therefore would be very likely to repay in full (as I always do) , thereby earning them no interest, OR one of their criteria is that you mustn't already have a capital One card. As it happens I do have a capital one card already. However, had I known that the card was owned by capital One I would never have applied, as I would have realised that holding one of their cards would have resulted in rejection. But nowhere in the application process was any connection with capital one made clear. The fact that I already have a Capital One card was alluded to in the rejection letter ( though al it said was (we hope you will enjoy continuing to use your capital one card.Humph! )
This has really annoyed me, as I have now ended up with a damaged credit rating having applied with my good credit rating for a card that will accept people with a poor credit rating and having been refused. It seems grossly unfair. I suspect the main reason is that I already have a capital one card but they should make it clear that it's a capital one card. As I have said, I would not have applied if I had known.

Any thoughts or comments about the likelihood of succeeding in challenging this would be gratefully received, as to me it's miss-selling. I will be starting by asking for a written explanation but if anyone has any ideas......?

Mithrandir48 wrote: »

Maybe you are right but it just seems disgraceful that I have ended up with a bad mark on my credit file because of that. In reply to the person that suggested I might have something bad lurking on my file - I appreciate your comment as I am trying to understand why this happened but I don't .

On re reading the rejection letter I see that they are saying that they do give additional products to some people who already hold a product but that in this case I failed the criteria for the product I applied for. I didn't even know I already held a product with them ! As I said in my earlier post, nowhere was it even mentioned that it was a capital one product. Had I known I wouldn't have applied. Surely I have a case for being misled or something. The first I knew it was a capital one product was when I receive the rejection letter.

Mithrandir48 wrote: »

No I didn't see that but I'd say it wasn't there when I applied .

This thread was started by zerog at almost 9pm on 30-Oct.

It didn't attract much attention that evening (it only received 1 thanks) and by the following morning I had posted to say the people behind the card were Capital One (see post#10)

On another point, as another poster indicated, as long as you have had the other Cap1 card for at least 6 months, that won't bar you from having this one.

So despite your protestations to the contrary, I fear there is something nasty lurking in your credit history and best you find out what it is before you make any other credit applications ... like you don't already know :cool:

They do say refusal of credit often offends, and your posts perfectly demonstrate that

dotdash79

A refusal doesn't appear on your file only capital one carried out a credit search.

Nothing more, nothing less.

Oh my card has arrived, my god it's ugly, but it's full off cash back goodness.

carousels

mrchagle wrote: »

Hiya.



Do you get accepted straight away on their website or did you have to wait to get confirmation through the post?

Ta

They told me I had to wait for 7 days while they ran additional checks! I was worried, as I had just applied for and been accepted for another credit card, but Luma approved me too.

Don't be discouraged if they say they're going to run additional checks. It's not always bad news!

mrchagle

Thank you :-)

gwapenut

Mithrandir48 wrote: »

I applied for the Luma credit card, attracted solely by the 4% cashback. I have a very good credit score.
<snip>
Any thoughts or comments about the likelihood of succeeding in challenging this would be gratefully received, as to me it's miss-selling. I will be starting by asking for a written explanation but if anyone has any ideas......?

Oh come on!

If you google Luma, you get a first result:
"Luma – The NEW Credit Card for Poor Credit. Apply Today!"
You say ... "I have a very good credit score." ... but that you were rejected

In what way is that misselling? Just move on, we win some, we lose some.

[Deleted User]

I have the new Luma card but like most people here my Aqua card is ending in January.

What card should I replace the Aqua with?

Unfortunately the 2 AMEX cards are out as I have just cancelled my Platinum everyday as I got it last November for Christmas 2012.

Is the Capital One 0.5% the only other real option?