Rejected for Bcard Initial

Student_of_£

Apparently even though it's now easier than ever to receive a bcard initial I was rejected! Since they didn't have student as an occupation I said I was unemployed. I assume this is why I was rejected. Can anyone give me some advice on how I can inprove my chances for being accepted? (I'm on electoral roll, landline, have incone >£3k. Should I just wait until I get a job and then apply? Thanks.

dotdash79

I think the income is too low, if you are after a credit card then where you have your student account is the best bet.

reclusive46

Student_of_£ wrote: »

Apparently even though it's now easier than ever to receive a bcard initial I was rejected! Since they didn't have student as an occupation I said I was unemployed. I assume this is why I was rejected. Can anyone give me some advice on how I can inprove my chances for being accepted? (I'm on electoral roll, landline, have incone >£3k. Should I just wait until I get a job and then apply? Thanks.

It does say you need an income of £10000.

"Who have a regular income of more than £10,000 per annum"

Atidi

Student_of_£ wrote: »

Apparently even though it's now easier than ever to receive a bcard initial I was rejected! Since they didn't have student as an occupation I said I was unemployed. I assume this is why I was rejected. Can anyone give me some advice on how I can inprove my chances for being accepted? (I'm on electoral roll, landline, have incone >£3k. Should I just wait until I get a job and then apply? Thanks.

Not to lie on your credit application.

You are not unemployed, you are a student ... and with an income of £3k a year sounds like you've got a job too (albeit part-time)

reclusive46

Also bare in mind most lenders allow you to include student loans as income.

Atidi

reclusive46 wrote: »

Also bare in mind most lenders allow you to include student loans as income.

Since when can you declare a loan as income?

A loan needs to be repaid.

Income is usually subject to income tax (unless inside a tax free wrapper or below your personal limit)

Even state benefits such as JSA, Incapacity Benefit, etc are taxable.
https://www.gov.uk/taxable-income/state-benefits-that-are-taxable

I must admit I did put down my student grant as income when I got my first credit card, but at least that wasn't repayable.
(and as I changed the application form to say it was only paid 3 times a year, and my address at the time was a University Hall of Residence, I think it was pretty clear to the lender what it was )
Only applied as a joke anyway, hoping if they rejected me they wouldn't keep writing to me every month asking me to apply. Amazingly, they accepted me!
It stopped the letters all the same, so mission accomplished.

reclusive46

Atidi wrote: »

Since when can you declare a loan as income?

A loan needs to be repaid.

Income is usually subject to income tax (unless inside a tax free wrapper or below your personal limit)

Even state benefits such as JSA, Incapacity Benefit, etc are taxable.
https://www.gov.uk/taxable-income/state-benefits-that-are-taxable

I must admit I did put down my student grant as income when I got my first credit card, but at least that wasn't repayable.
(and as I changed the application form to say it was only paid 3 times a year, and my address at the time was a University Hall of Residence, I think it was pretty clear to the lender what it was )
Only applied as a joke anyway, hoping if they rejected me they wouldn't keep writing to me every month asking me to apply. Amazingly, they accepted me!
It stopped the letters all the same, so mission accomplished.

Only advice my son received from two lenders when he asked and another one had it stated as to put part of the income (Lloyds in branch I think). I think its mainly because its money that doesn't have to be repaid unless you work over the threshold and for several years while at Uni. So for the lender, its basically good as money in the bank. He was told once he is paying it back and working, he would have to declare the student loan as "Other monthly bills or utilities" if asked.