perfect credit score but declined credit cards!

adindas

loveleggins wrote: »

Thanks for the response. We have only lived in our house for a year in October, so will this most likely be why we cannot get the credit card? And if so are we beat waiting another year until applying again?

Highly likely, as they will normally expect the people to live in their current address for around two years as a standard. But they will be more flexible if people are recently moving due to owing a house. I think the reason behind it is that, it is much easier to find people if there is a problem.

But the exact reason for your rejection will never be known as they will never tell you the reason, why ? If you ask, they will always use generic answer: "does not meet their criteria" ..

Sanne

adindas wrote: »

Highly likely, as they will normally expect the people to live in their current address for around two years as a standard. But they will be more flexible if people are recently moving due to owing a house. I think the reason behind it is that, it is much easier to find people if there is a problem.

I've been offered overdrafts and got credit cards when having lived at a couple of addresses for less than a year, otherwise I'd never get anything (the joy of renting and landlords deciding to need properties for something else). In the last six years I had four different addresses and never had issues getting credit (with decent limits).

So this doesn't necessarily have to be a problem.

I wonder if the problem for you is more that you don't have an income - have you checked their requirements for minimum income levels which cards often have?

loveleggins

Hello. Thanks for your response. I applied for the Asda credit card which asks for a household income which included my husband. And my husband tried his with our bank HSBC so they can see how much he gets a month. But that is a good pint and I know HSBC wouldn't give me a credit card as they ask for my job and income and obviously I don't have one. I did the soft credit search on here and it came up with4 companies who I have a 80 or 90% chance of getting accepted with. Is it worth applying with one of them or is it better to wait a few months before applying? Is the soft search they do for you on here fairly accurate in the chances of you getting accepted?

loveleggins

*point not pint!

Wammer

My guess is that

• You have only lived at your present address for 9 months
  
• It is rented rather than owned
  
• Your husband has only been with his present employer for 8 months

None of these show any stability at the moment. Unfortunately I think it is a case of bad timing of the applications.

I would be inclined to wait at least until a year at the new address and job before applying again.

p00hsticks

loveleggins wrote: »

*surprised not supposed

loveleggins wrote: »

*point not pint!

FYI, if you are logged in you can click on the 'edit' button at the bottom of oyur post to edit your posts and correct any spelling mistakes / typos etc

TheEffect

How does your husband run his current account with HSBC? Has he gone over his overdraft/have a large overdraft he's always in? Any bounced direct debits/payments?

I had a HSBC current account that I didn't use much, and applied for their credit card. It was declined due to credit scoring. I then started using the current account, and reapplied 2 months later, and was accepted. Nothing had changed on my credit report. After speaking to HSBC, it seems they have an internal score that is affected by how/if you use your other HSBC products, and my internal score had improved resulting in being offered a credit card.

The_Boss

loveleggins wrote: »

Hello.

Myself and my husband have just applied for credit cards (myself with Asda my husband with our bank HSBC) and we were both declined. HSBC told my husband that it was something Experian were holding. So we have signed up to Experian and checked thinking there would be a problem yet both our scores show 999 and excellent! Does anyone know why this could have happened? And when we can try again for a credit card as we need one to go to America in a few months time. And if possible the best credit cards to go for. We have no debts and will literally use it for odd things like hire car in America and pay it off in full each month.

Thanks very much for any help as we are both perplexed!

You don't have a credit score. They don't exist. You're believing a random made up number that Asda and HSBC would not even know about because Experian are making it up and adding it to your credit file like it means something.

planteria

adindas wrote: »

It might be something to do with no or very less history of managing loan, credit cards

i would guess it is this. if there is nothing wrong, it can only be the lack of 'spend&repay&spend&repay' history.

CapitalOne and Vanquis have been a friend of mine's route to building up card history.