Refused Tesco credit card

Ant.Evs

oh and forgot to add...

When they send a letter saying they are declining you due to results they had from a credit reference agency, they really mean..

We have declined your application but we are not telling you why.

There are people on here that have the most prefect credit history you can get but still get the standard "declining you due to results they had from a credit reference agency" letter. They were declined simply because they wouldn't make the credit card company any money. Obviously that is not the case in this instance. You are clearly being declined because of your past dealings with them and as such they have taken their football and gone home.

juliasdream

Well its no big deal really. My only loss is the possibility of doubling my clubcard points

In case its of interest to anyone 7 to 8 years ago I had 4 credit cards as a result of previous balance transfers.
Natwest, Virgin, tesco and Coop
I was banking with coop at the time and owed about £6000 to the other three.
Coop withdrew my card and reduced my smile more account to a standard one even though I didnt owe them money
I paid off the other three at a reduced rate saving about £1000
What is interesting is Halifax with whom I also had an account offered me a credit card even though my rating was shot to peices. I've been using it ever since
A good part of the £6000 I owed was due to an accumulation of interest which I could never seem to get on top of with monthly payments. I realized too late that bankruptcy would have been a better solution for me. Tesco should be happy I didn't go down that route
As it worked out the problem was solved due to an inheritance.
I'll never borrow more than I can afford again. In fact I only use the Halifax CC for traveling abroad as it gives the best exchange rates
Last summer I was getting 1.20 Euros to £1 while the highest I could get elsewhere was 1.17 Euros
I never spend more than I have in my bank account to cover it so I have learnt my lesson 7 years ago.
If tesco looked at the facts they'd see I was no longer a risk

DCFC79

As to " minimum criteria for acceptance " no can answer that as Tesco or the financial institution they use dont make it public and if they did everyone would be making themselves reach the min to be accepted.

They also dont have to give you a card.

YorkshireBoy

juliasdream wrote: »

No one has really answered my question
"Can anyone tell me which credit reference agency Tesco uses and what is their minimum criteria for acceptance.

Your decline letter should say which CRA they've obtained information from. If it doesn't (and I'd be very surprised if it didn't because I believe it's a regulatory requirement!), then ask them.


As to your second part of your question, the only eligibility criteria they're prepared to divulge is that which may be found on their website (which you appear to have read because you're aware of the 6 month wait). Think about it...if customers were aware of things such as minimum income, time in job, etc, then many would tailor their applications to 'fit' these criteria. Surely you can see that?

Thrugelmir

juliasdream wrote: »

If tesco looked at the facts they'd see I was no longer a risk

Tesco's don't care. Your business is immaterial to them in value terms so carries no weight. Underwriting is as much about profiling an individual as it is about risk. Tesco's viewpoint will be that a leopard is unlikely to change it's spots.

howie94

Hi Julia

I recently applied with TESCO and was given an APR rate with a credit limit and then an agreement with electronic signiture, i then chased the application up as 10 days had passed when i was told the application has been declined..
I had 2 searches applied to my Experian credit file, i hope this helps.

Regards:)

juliasdream wrote: »

I know that there is a possibility that Tesco blacklisted me
And no I am no longer in debt to Tesco or anyone else for that matter. I haven't been for over 7 years.
No one has really answered my question
"Can anyone tell me which credit reference agency Tesco uses and what is their minimum criteria for acceptance. I'd like to find out why I was refused and prepare myself for a second attempt in 6 months from now"
When I have that answer I can apply for a credit report to see if they hold any information that is no longer relevent and get it adjusted