halifax refused me. What!!!

marywooyeah

Op just apply for a different one, halifax have awful customer service. After waiting weeks for a call back I put in an email complaint and was told I'd get a response within 3 days. 6 weeks later I got a call from a customer service rep to address my complaint! They don't take dard payments over the phone either I'd never deal with them again.

Scrootum

cajef wrote: »

It will never bother me as I don't have a problem getting credit cards and I do not borrow money but if I wanted to I would prefer advice based on facts not a load of bull.

http://forums.moneysavingexpert.com/showpost.php?p=63987078&postcount=60

OK, with you obvious massive inside knowledge of the banking system, please tell us all why the OP was turned down.

RichardD1970

Scrootum wrote: »

OK, with you obvious massive inside knowledge of the banking system, please tell us all why the OP was turned down.

That's easy, because he didn't meet their criteria for the product.

What that criteria is, probably no one knows, not even the banks employees.

planteria

yes.

check your file on noddle asap. and if anything looks awry at all, get straight on to it.

keep your Smile credit card. set your DD to clear it in full from your Halifax account. and channel as much of your spending as you can via the card....building up your track record as best you can.

Halifax may well offer you a card at some point. but i wouldn't worry too much about that. what matters is that you get the best card for you. something that generates cashback or points would be my preference.

i assume that you are going to be bagging £5/m from Halifax, as your new account is a Reward account. i find their customer service to be nice, but inept. but i don't mind taking their £5s:)

i have received a card from them this week. accepted. but disappointing limit.

michaels

planteria wrote: »

i have received a card from them this week. accepted. but disappointing limit.

That surprises me - based on my credit limit they don't seem to mind stoozers

cos_2

Scrootum wrote: »

Don't take it personally. Chances are that they just cannot see how they are going to make any money from your custom.

This myth just keeps on rolling.

Credit card companies make money from every single transaction. Interest on debt is a bonus.

If a CC company looks at you as a person who won't borrow AND won't use, well, fair enough. It costs little for them to hold an account for you (I mean pennies), and they're now permitted to hold a fairly large debt portfolio.

Myths are so fun

bigadaj

cos wrote: »

This myth just keeps on rolling.

Credit card companies make money from every single transaction. Interest on debt is a bonus.

If a CC company looks at you as a person who won't borrow AND won't use, well, fair enough. It costs little for them to hold an account for you (I mean pennies), and they're now permitted to hold a fairly large debt portfolio.

Myths are so fun

Yes but it costs them money in provisioning for the credit limits, so there is some cost for them to be concerned about.

Scrootum

cos wrote: »

This myth just keeps on rolling.

Credit card companies make money from every single transaction. Interest on debt is a bonus.

If a CC company looks at you as a person who won't borrow AND won't use, well, fair enough. It costs little for them to hold an account for you (I mean pennies), and they're now permitted to hold a fairly large debt portfolio.

Myths are so fun

Banks are currently limited as to the amount of credit they can offer due to capital requirements.

Some (not all) will go for the more profitable business with the limited pot they have to play with. So not a myth at all. All depends on their current lending strategy.

gizz_mo

I have a current account with Halifax that has never been in the red, a savings account also with Halifax which has £85k in it, and a high/clean credit score which I check once a year by requesting my report, and closing down dormant accounts. I have a Tesco CC and a Santander 123 one which i pay in full every month. I decided to apply for a Clarity card to use when travelling, and I too was refused. I am baffled by this. Would they perhaps accept me if I close one of the other credit cards down? I only use them for clubcard points and cashback purposes which all adds up at the end of the day - trying to be moneysaving.

JuicyJesus

cos wrote: »

This myth just keeps on rolling.

Credit card companies make money from every single transaction. Interest on debt is a bonus.

If a CC company looks at you as a person who won't borrow AND won't use, well, fair enough. It costs little for them to hold an account for you (I mean pennies), and they're now permitted to hold a fairly large debt portfolio.

Myths are so fun

It's even simpler than that. The principles of reciprocity for credit files prohibit using data about payments and amounts to make a commercial decision not to lend on the basis that the customer would be unprofitable (as opposed to using it to make a lending decision based on likelihood of default).