Balance Transfer Card Refused

user1168934

Candyapple wrote: »

Some more questions:

1. Annual salary?
2. How much do you owe on the cards?
3. What is the total of your credit limits?
4. Any other existing debts (aside from mortgage) e.g. overdrafts / loans?
5. What are the names of the card providers of the debts you currently owe (so that any recommendations aren't going to name them if you already have a card with them)

also ...
6. Your card number
7. 3 digit CVV
8. Name as it appears on your card.

AndrewCollinson

just done an Experian check I score 990 out of a possible 999 which is classed as excellent.one of the cards where the interest free is ending is Lloyds and I applied for a Halifax card.Halifax is part of Lloyds could that be why I was rejected?

HappyMJ

AndrewCollinson wrote: »

just done an Experian check I score 990 out of a possible 999 which is classed as excellent.one of the cards where the interest free is ending is Lloyds and I applied for a Halifax card.Halifax is part of Lloyds could that be why I was rejected?

Yes that could be a reason.

It could be anything really.

JimmyTheWig

AndrewCollinson wrote: »

just done an Experian check I score 990 out of a possible 999 which is classed as excellent.

The score can be pretty meaningless. It's what's actually on your credit file that's important.

one of the cards where the interest free is ending is Lloyds and I applied for a Halifax card.Halifax is part of Lloyds could that be why I was rejected?

That may well have been part of the problem.

Assuming that everything on your credit report looks genuine I'd be tempted to try the Barclaycard application and see what happens.

user1168934

AndrewCollinson wrote: »

just done an Experian check I score 990 out of a possible 999 which is classed as excellent.one of the cards where the interest free is ending is Lloyds and I applied for a Halifax card.Halifax is part of Lloyds could that be why I was rejected?

This alone cannot be the reason. I had a Lloyds for many years and got Halifax clarity last year without a problem.

Candyapple

user1168934 wrote: »

This alone cannot be the reason. I had a Lloyds for many years and got Halifax clarity last year without a problem.

Ditto.

Just because Lloyds/Halifax are under the same stable, doesn't mean that they are connected.

If you answered the questions posed to you, perhaps we will be able to help.

Also, just checking one credit reference agency only gives you one third of the picture given that there are 3 agencies.

My guess is you probably fall down at the affordability stage or your credit to debt ratio is too high for your salary.

AndrewCollinson

To answer Candyapple's questions what I owe on the credit cards equates to about 25% of my annual salary.Credit limit total is £20K and they cards I have are Lloyds Tesco and MBNA though it is Lloyds and Tesco only I am looking to balance transfer from now.I have done a credit check on Experian Equifax and Credit call and they are all really good with Credit call giving me 5/5 and a score of 638.In fact creditcall list the cards I have the best chance with and Barclaycard 37 months 2.45% transfer fee is at the top.
so i think the only issue is affordability.Thoughts?

grumbler

AndrewCollinson wrote: »

... I owe on the credit cards equates to about 25% of my annual salary.Credit limit total is £20K ...
so i think the only issue is affordability.Thoughts?

£20K/salary = ...%?

If ti's >50% this can be the issue.

AndrewCollinson

no credit limit less than 50%.

it's now a week since I applied for the credit card I didn't get.OK to try for the next now.Only two weeks before my interest free on one card expires.

grumbler

It's believed that 1-2 more applications are OK, but then you have to wait for 3+ months before applying again.