We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Does house affect my credit card chances?

I used the balance transfer eligibility checker in january and got 90% for the fluid card, nothing changed now apart from I moved and put in my new address and now i'm on 0% and terrible chances of getting any other cards.

When I put the address i've just moved out of in again i am back to 90% eligibility?

Anybody know why the address will be giving me bad chances?

Comments

  • Paully232000
    Paully232000 Posts: 2,108 Forumite
    I would think that part of the problem could be the length of time at your new address as this can have an effect on acceptance
  • craiggg123
    craiggg123 Posts: 26 Forumite
    Would banks know how long i've been in an address. I'd only been in my old one 9 months but still passed. Seems strange. If i didnt move i pass but now i've moved it looks like my credit file is destroyed
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Firstly, they ask you.
    Secondly, the information can be available in your credit files (I am not sure).

    Generally, in the long run, owing a mortgaged home has both positive (stability) and negative (lower disposable income) effects.
  • craiggg123
    craiggg123 Posts: 26 Forumite
    I've just checked my credit file, and it's highlighted than everything is linked to my old address, i've rang the bank and phone and told them i've moved so i'm just hoping it hasn't updated with the credit file company yet and this is why its had a negative impact.

    Fingers crossed.
  • Paully232000
    Paully232000 Posts: 2,108 Forumite
    yes it could take a month or two for them to update the records on the credit files, and dont forget there are 3 credit reference agencies, used by different companies.
    Also, getting yourself registered on the electoral roll can take a few months to be updated, which also has an impact.
  • [Deleted User]
    [Deleted User] Posts: 2,175 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    Once you've moved, and updated everything, it takes a few months for all records to match again. Until then, different records are saying different things, and it looks like you're using two addresses, which in turn gives you a high risk rating.
  • thenudeone
    thenudeone Posts: 4,462 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    IIRC in the UK it is illegal to use the address as a factor in a credit decision.

    In is know as "redlining" i.e. circling a map of a neighbourhood with a red line.

    Obviously the length of time you have been at the address, and your type of tenure, are legitimate factors.
    We need the earth for food, water, and shelter.
    The earth needs us for nothing.
    The earth does not belong to us.
    We belong to the Earth
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.