Rejected for Card - Why and Suggestions?

Thrugelmir

tiredofpoorservice wrote: »

So I am a very good risk.

You owe £30k. Can you guarantee you income for the next umpteen years to repay it?

If not then you pose a high risk. Whatever you might think.

Payment history is irrelevant. It's tomorrow that matters now.

tiredofpoorservice

Yet Barclaycard just upped my credit limit by an (arbitrary) £1500, just like that (it was automated) when it occurred to me to ask them (they've got a good deal on at the mo).


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Thrugelmir

Lenders differ in their business decisions. Ahead of the incoming regulatory changes in April. Some finance institutions are already taking a noticeably harder line with regards to affordability and responsible lending. Though some of this may equally have more to do with the strength of their balance sheets , and a requirement to hold more capital. The world still hasn't settled fully down since the GFC in 2007/08.

tiredofpoorservice

Thanks for all the advice and information on this.

It would be really nice to have a clear, definitive answer to this. Should I go through my current accounts and remove all overdraft facilities from them? Similarly, should I reduce credit limits on credit cards down to what I actually need? Would this improve my credit rating? Would it make companies less likely to reject applications?


Thanks


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