turned down by capital one

dave76

I thought I had a very good credit score - have just looked at my experian report and everything is green so why have I been turned down? I have quite a few credit cards that are no longer used, but dont think I have ever been refused credit before.

The only thing I can think of is when I applied I put down the address of where I have been living since january when I moved out of my parents home - but the electoral role entry still shows my previous address.
Would this have an effect, and if so !!!!!! dont they say that in the rejection letter!?

Andybez38

You say " i have quiet a few credit cards" this will be seen as potential credit available to you. If this is the case you might bee turned down because Earnings / possible debt you could occur. If you are not using some cards it might be better to close the cards, thus reducing possible credit available to you.

*srjp*

Same here situation here, all green's etc on the Experian site and just got the capital one letter today. Perhaps they are just filtering some people with decent credit ratings out of the system so they actually make some profit on these cards. It's not that bizarre a thought is it?

Ah well, Amex next! ;-)

trubster

Is it just Experian that Cap 1 use??? If so, Im in... lol

dave76

well I have a lot of available credit - companies keep increasing them so I have a couple with over 10k limit and 2 or 3 others with 6k limit so probably over 40k in total if I wanted it! I just want to consolidate the two I use with about 7k on them and keep the interest low.

Thy say they used experian and equifax

smithja

Capital one do search both Experian and Equifax at the same time, as do Egg. Those are the only two I know about. James

MrsTinks

You more than likely was turned down then because you simply have too much available credit... close some and apply again in a couple of months when your credit records have been updated and you should have more luck. In that time also make sure you are updated on the electoral roll

Gillianh2

Well I have to add my experience of Capital One here. I was invited by post to apply for a card. I did. And on 17th July recieved the congratulations you have been accepted for the card, please sign enclosed agreement and your card will be dispatched within 7-10 working days. I was thrilled as my credit is not brilliant...(trying hard to clean up and havent applied for any credit etc; for the past 18months). Got a letter today saying sorry you have not been accepted for the credit card and if you want more info write to the listed credit agencies!!!
you can imagine how dissappointed I am feeling now!Rang customer services who seemed confused at the fact I had the acceptance letter but could offer no further help other than me checking my credit file. I thought they had already done that before the agreed to send me a card. So thats me done for as far as credit card is concerned. But just feel very mislead by Capital One.

sparkey79

Gillianh2 wrote: »

Well I have to add my experience of Capital One here. I was invited by post to apply for a card. I did. And on 17th July recieved the congratulations you have been accepted for the card, please sign enclosed agreement and your card will be dispatched within 7-10 working days. I was thrilled as my credit is not brilliant...(trying hard to clean up and havent applied for any credit etc; for the past 18months). Got a letter today saying sorry you have not been accepted for the credit card and if you want more info write to the listed credit agencies!!!
you can imagine how dissappointed I am feeling now!Rang customer services who seemed confused at the fact I had the acceptance letter but could offer no further help other than me checking my credit file. I thought they had already done that before the agreed to send me a card. So thats me done for as far as credit card is concerned. But just feel very mislead by Capital One.

I know how you feel,i had exactly the same experience,I was accepeted by letter and signed the agreement only to be sent a letter declining me,put me off capital one.I was most dissapointed and told maybe i passed the credit check but didnt fit their internal criteria.If this was the case why accept me in the first place.