Santander refused a CC & offered £55k loan at the same time!

keithfm

I applied to Santander (123 CC) and others to manage my balances on the 0% offer. Only a couple of grand but thought it was worth it. They refused me, quoting information provided by Experian. Surprised I temporarily joined Experian and after getting 996 on the score called them to ask why Santander had refused.
Experian we puzzled a s well, and the advisor burst out laughing when I told him we'd just paid off our Santander mortgage and been offered a £55,000 instant credit/loan draw down against it!!
I'm not going to appeal as Sainsbury's have just given me a card and I've applied to a couple of others as well.
Alos we've wasted enough time on Santander in the past with our own mortgage and accounts, and they were absolutely awful to deal with when my partners mother went into a Care Home and subsequently died.:(

Igamogam

Our experience with same bank very similar.

jonesMUFCforever

The difference is - £55k would be secured against your home - the credit card would not - you could max it out and do a bunk.

jpwjpw

"I'm not going to appeal as Sainsbury's have just given me a card and I've applied to a couple of others as well."


That could be your answer? Some providers don't like too many applications in a short period of time.

chanz4

Also if they were so bad why apply?

meer53

OP, have a look at the definition of a "secured" loan and an "unsecured" loan.

hardnutman

I have just opened a Santander bank account and was hoping to get the CC in a couple of months time. My credit score isn't great (nothing bad, just a lack of history which I am working on) so it sounds like this could be very difficult.

I am now wondering if it is worth inflating my Santander account with my partners money, perhaps they are more likely to accept an application if the credit limit on the CC is much smaller than the money you have stored in the current account?