Declined for John Lewis/Waitrose card

lisyloo

I've been declined by John Lewis/Waitrose.

There is nothing negative on my report.
Currently open I have 1 mortgage (7 years), 1 phone (19 years), 3 credit cards and 1 current account all up to date.
I don't have any searches in the past 12 months.
I've lived at my address for 12 years and I'm definitely on the electoral role (got voting cards just recently).
My income is above average.

I wanted this card because capitalone are stopping cashback so I was going to close Luma and my capital one card.
The only reason I can speculate is that I have 3 cards already. Could this be it? I also do take out cash (abroad) on my Halfax credit card.

How long before I can re-apply?
Should I close the 2 cap one cards first and wait for them to drop off.

I know I can write in adn probably will but jsut wondered if anyone knew anything specific about this card.

Thanks

Hazzinho

3 cards might have an impact as it's all lot of available credit. Are they maxed out? Debt to salary is a factor and also if you just pay the minimum each month or cash advances.

lisyloo

About £450 debt on £18.8K available credit. Paid off each month.
I currently have 1 card for supermarket cashback (4%), 1 card for general cashback (1%) and 1 card for foriegn currency.

I do take cash advances abroad a couple of times per year (holidays), but they are paid off quickly.

I put £37K as salary so that's about 50% salary as available credit.

I will now wait to close down the 2 cashback cards (due to cashback being axed) but it means that whilst I wait for them to close on my report, I'll have a gap before I have another cashback rewards card. Not the end of the world, but I would have preferred to have an overlap and not a gap.

reclusive46

A close friend had the same thing happen to them. They gave them a call and they just said it wasn't because of credit history but that they didn't fit their customer profile.

They applied for an Amex straight after the call and was accepted, so I wouldn't worry too much about your credit, its just John lewis/HSBC seem to be very picky with that card.

lisyloo

Thanks for that info.
Shame as it seems to be the best rewards card if you are happy to do supermarket shopping at Waitrose i.e. 1%.

reclusive46

lisyloo wrote: »

Thanks for that info.
Shame as it seems to be the best rewards card if you are happy to do supermarket shopping at Waitrose i.e. 1%.

Correct me if I'm wrong but don't you only get 1% in Waitrose and JL and 0.5% elsewhere?

If thats the case its pretty poor, given that Amex (and even Barclaycard on their Amex card) cards give a higher/same rate even in Waitrose than Waitrose give on their own card.

Thrugelmir

lisyloo wrote: »

Thanks for that info.
Shame as it seems to be the best rewards card if you are happy to do supermarket shopping at Waitrose i.e. 1%.

Might be your income level. You may simply not meet their target customer. Days are ending of volume over quantity for card issuers.

lisyloo

Correct me if I'm wrong but don't you only get 1% in Waitrose and JL and 0.5% elsewhere?

Yes I've mis read that I think (up to 1%).
I can't seem to find a card that I think it's worth bothering with.
I really don't want to bother with Amex - had it a few times before and you've got to constantly watch out for expenditure over 3 months, annual expediture, dormancy fees etc. Too much hassle.
I'm considering a charity card. The rates aren't great but at least a charity gets something out of it. I know you can get higher cashback elsewhere and gift aid it to charity but you have to remember to do that - again more hassle and something you've got to remember to do.

Might be your income level.

Not on it's own I don't think. They specify £4K houshold income.

rising_from_the_ashes

Probably income / available credit level if you have £18.5k available (regardless of whether you use it or not)

It's one of the things that puts me off applying for another c/card - mine is OK - interest horrendeous but it's paid each month so not a factor .... but there's no rewards with it at all that annoys me.

However, as the limit is high I think I'd struggle to get another with anywhere near that limit (as they wouldn't know I'd be closing the other one) and would hate not to have it there (just in case!)

lisyloo

Thanks all.
I've applied for WWF (MBNA Visa) and received a credit limit of £5.6K.
They get £40 so at least a charity definitely gets something in their pocket now.
If anyone is interest I think that is one of the best paying charity cards.

That's world wildlife fund not a bunch of wrestlers in fancy dress :-)