Capital One application refused - any advice on appealing?

kibble

According to my credit file I have 2 satisfied CCJs for small amounts which are due to fall off (i.e. after the 6 years) next year. As I want to try and get a mortgage when that happens I thought it would be a good idea to start building my credit rating up. So I applied for a capital one card but the application was refused. The only other thing on my file are three late payments - these came about following a dispute with the bank over bank charges (I have asked them again and again to remove them, threatened legal action and whilst I have managed to get the default they originally entered removed, they have not removed late payments). My credit file is otherwise pretty empty. A basic bank account showing payments every month, electoral roll, good job for 5 years. Do you think this is what caused the refusal? Is it going to help me appeal if I explain this or just make capital one more wary!?

Any more general advice / experiences people have had with appealing against decisions is greatly appreciated.

smithja

I would send them your last 3 months bank statements and ask for a manual decision to be made, you have right to opt-out of automated decisions under the Data Protection Act. I did this just recently with another bank after being declined and was given a card with a £2000 limit. You have nothing to lose, I think the fact your CCJ are satisfied and so old, is also in your favour, as is being in your job for 5 years.. It would obviously help Capital One if you have you wages paid into your account so they can see your income. Hope this helps. James
Edit: I am pretty sure they have an address for the appeals department of the letter that says you have been declined, otherwise I would google their head office address and send them their by recorded delivery.

danthemoneysavingman

Hi Kibble,
appealing won't help, manual decision might, but you really should raise a notice of correction on your credit file at the bureau (whichever one(s) CapOne uses) explaining the late payments in text. It is not legal for a company to make an automated decision if there is a NoC on your credit file - it has to be reviewed manually. You only get 200 characters though so use them wisely!
Best of luck.

melbury

I got a letter from Capital One today turning me down for the cashback card. I just cannot understand it, I have never had CCJ's and have always paid off my balance at the end of each month. What is their problem? In the refusal letter they even suggested that I contact Experian and Equifax to get a copy of my credit rating - just don't understand why! I feel totally offended.

Well they can stick their card!!!!

tenroom

They've made a commercial decision. They obviously don't think you're good for it based on the search and/or the score. Maybe you should stop pouting and do as they suggest - it might be there's something registered you don't know about.

Alternatively be daft, take it personally, apply to every card provider out there and then, once they've all registered a search on your credit file before rejecting you, spend the next 6 months waiting for the searches to fall off your file and kicking yourself for not being able to look past your ego

melbury

tenroom wrote: »

They've made a commercial decision. They obviously don't think you're good for it based on the search and/or the score. Maybe you should stop pouting and do as they suggest - it might be there's something registered you don't know about.

Alternatively be daft, take it personally, apply to every card provider out there and then, once they've all registered a search on your credit file before rejecting you, spend the next 6 months waiting for the searches to fall off your file and kicking yourself for not being able to look past your ego

Perhaps I am being stupid but I don't understand what there could be on my file that would be detrimental. Do these companies make mistakes then?

melbury

melbury wrote: »

Perhaps I am being stupid but I don't understand what there could be on my file that would be detrimental. Do these companies make mistakes then?

Forgot to say, it was pretty much a standard type letter, I don't think the suggestion to contact the credit people was particularly aimed at me - could be wrong of course! I wonder if other people that have been rejected have received the same letter. From reading other threads on the site, lots of people who earn good money and pay off their balance every month seem to be getting rejected by Capital One.

galileo

I was recently rejected as well...I earn over 40k a year and always pay my balance off in full ane never miss a payment.

I appealed on 30 July enclosing 3 months' bank statements, a savings account statement and a payslip. I chased it by phone today and they have not logged it on their system. On the brink of giving up hope...

Anyone had any success appealing?

melbury

I have just ordered a statutory credit report from Experian, purely because of being rejected by Capital One. Is getting one report from one company enough, or should I get one from Equifax as well? I am just very curious to know why they turned me down, I always pay off balance in full every month and always have. It is all very strange!

brodie4

Hi all 1st post,but I received a letter from Capital One today saying that my application has been provisionaly accepted,and that I just have to send of 2 forms of ID for them to look at.Does anyone know what the usual starting off credit limit is from them?

jay78

melbury wrote: »

I have just ordered a statutory credit report from Experian, purely because of being rejected by Capital One. Is getting one report from one company enough, or should I get one from Equifax as well? I am just very curious to know why they turned me down, I always pay off balance in full every month and always have. It is all very strange!

Get your report from Equifax too. Companies are starting to check both credit agencies at the same time.