Going from Capital one to a better card?

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Hi,

Like many of us, I had no credit so I got a capital one Credit card, limit started at £200, then £500 and now £1,000.

Checked credit score on experian and it's about 950.

Anyway problem I'm having is when applying for any other cards I am still being rejected. I've had the cpaital one card for 14 months, since having it my salary has increased by 5k due to promotions.

Do I need to be more patient?

I do notice that my experian credit file is missing my current bank account and upon inspection it's look like its because for some reason when I opened my ban account they double barrelled my middle and surname, I'm wondering if that will cause the rejections.

I'm on the electoral role, recent searches are good, I have no other store cards/ credit cards and no catalogue credit.

I spoke to Lloyds when I got rejected a few months back and one of the things they said was they need to be responsible lenders so if you already have credit and your salary is X amount, they can reject you because they should not be giving you more credit than you can pay back, she did not provide and % ratio.

Sorry for the long post, but just looking for some advice. Thanks

Comments

  • moshoodo1
    moshoodo1 Posts: 181 Forumite
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    Your 950 experian scores is just useless as they are not lenders, it is just a random numbers to con you.

    What matters most is the report on your credit file.

    Any late payment, default or ccj ?

    also you need to solve the issue regard your bank account mistake.
    Aqua Advance £ 9500 ( Settled ) | BC Platinum Card 25/25 £10500 | 24 studio £1950 | SimplyBe £1800 | Nationwide Flexplus A/C OD £800| Meaningless Noddles score= 3/5
  • Experian_company_representative
    Experian_company_representative Posts: 2,134 Organisation Representative
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    If you send us details we'll see if we can help by bringing your bank account into your report as this may help strengthen your credit rating.

    James
    Official Company Representative
    I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"

    Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen
  • gt94sss2
    gt94sss2 Posts: 5,671 Forumite
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    Anyway problem I'm having is when applying for any other cards I am still being rejected. I've had the cpaital one card for 14 months, since having it my salary has increased by 5k due to promotions.

    Do I need to be more patient?

    How many cards have you applied for?

    Too many credit searches in a short period makes it less likely that you will be given another card.

    Regards
    Sunil
  • craig3558
    craig3558 Posts: 25 Forumite
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    Hi,

    Ive had a Capital One credit card for 7 months now and have paid it off in full every month except this month where ive left a little on to pay during the month.

    I am going away in 2 months and require a hire car. The credit card wont cover the deposit needed on a credit card. Does anyone know how to increase my limit. Ive never missed a payment and pay by Direct Debit.

    Kind Regards

    Craig
  • Maestro.
    Maestro. Posts: 1,518 Forumite
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    Craig, please start your own thread.

    OP - what do you earn, what cards have you applied for recently? Some lenders are easier than others, barclaycard for instance seem fairly forgiving; I got their premium cashback card when I was still building my history, with several searches on my file and not quite earning the "recommended" 20k. On the other hand RBS and natwest didn't want me despite meeting the stated criteria for their product.
    Oh, you wee bazza!
  • iAMaLONDONER
    iAMaLONDONER Posts: 1,669 Forumite
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    Maestro. wrote: »
    Craig, please start your own thread.

    OP - what do you earn, what cards have you applied for recently? Some lenders are easier than others, barclaycard for instance seem fairly forgiving; I got their premium cashback card when I was still building my history, with several searches on my file and not quite earning the "recommended" 20k. On the other hand RBS and natwest didn't want me despite meeting the stated criteria for their product.

    I think you mean trusting rather than forgiving as you didn't do anything wrong to Barclays (like miss a payment -AFAIK!).

    Nevertheless Barclay's have refused to give me a card (even the initial!)
  • Maestro.
    Maestro. Posts: 1,518 Forumite
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    Aye, right you are :beer:

    just goes to show that YMMV I suppose
    Oh, you wee bazza!
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