Tesco Foundation Card

bobbydub

Hi all, I just applied for a Tesco foundation credit card.. At the end of the application it said it could offer me £300 @ 33.9% after final check anyone else had this?
I have a current account with them then I got insurance for both contents and car which probs makes no difference.

Started off with a £250 @ 59.9% with Vanquis for 3 years and no increase!!!

And capital one 2 months ago £400 @ 29.8%

tomxlisa

bobbydub wrote: »

Hi all, I just applied for a Tesco foundation credit card.. At the end of the application it said it could offer me £300 @ 33.9% after final check anyone else had this?
I have a current account with them then I got insurance for both contents and car which probs makes no difference.

Started off with a £250 @ 59.9% with Vanquis for 3 years and no increase!!!
And capital one 2 months ago £400 @ 29.8%

I've not applied for one of them so not much help really but I have just applied for a vanquis card and it said I had passed initial checks and they phoned me to confirm everything and said I would know a final answer by phone call in the next few days, did you have this when applying with them, I thought I had been accepted but I guess I could still be declined?.

bobbydub

When I got my vanquis it passed online then a phone call a week later to confirm my details then they accepted me there and then with the credit limit and apr, maybe they changed it since then, was over 3 years ago. Good luck on the acceptance it should pass.

tomxlisa

Yeah they accepted me had a phone call today, APR is 59.99% though which is crazy, can't wait to be able to get mainstream cards where the APR is reasonable if you choose to carry a balance.

A4445

tomxlisa wrote: »

Yeah they accepted me had a phone call today, APR is 59.99% though which is crazy, can't wait to be able to get mainstream cards where the APR is reasonable if you choose to carry a balance.

The APR doesn't really matter if you pay in full but still 59.9% is shocking! What credit limit did they give you?

onthefencepost

I considered a Tesco Foundation card but opted for Aqua as i believe they are more open to customers with previous adverse credit. Been with them for a few months paid the balance off full each time etc.

I'm looking to build at least 12 months worth of credit before approaching the likes of Tesco or Creation finance for a card by this point all but one of my defaults will be removed.

tomxlisa

A4445 wrote: »

The APR doesn't really matter if you pay in full but still 59.9% is shocking! What credit limit did they give you?

Yeah I know but there might be times when I wanna hold a balance on the card and that's why I do wanna aim towards a mainstream card or something with a better APR, I don't think my capital one card is that high, so yeah it's the worse I've been given so far and they started me with a £250 limit not great considering my credit history is pretty much perfect.

tomxlisa

onthefencepost wrote: »

I considered a Tesco Foundation card but opted for Aqua as i believe they are more open to customers with previous adverse credit. Been with them for a few months paid the balance off full each time etc.

I'm looking to build at least 12 months worth of credit before approaching the likes of Tesco or Creation finance for a card by this point all but one of my defaults will be removed.

I did try aqua a few months ago I think it was and got refused, not sure why when they are a credit building company.

cats2012

if you say your credit history is "pretty much perfect" have you checked your credit file? seems like you probably just don't have enough of a credit history to get a mainstream card but might be worth checking there isn't anything on there you don't know about as you are getting particularly high APRs and low lines.

onthefencepost

I suppose it could be history related, regardless have YOU tried to appeal the decision. Lots of useful tips on this forum. Especially when your sending them your ID documents, employment contract wage slips/ bank statements i've read on here numerous times individuals getting there decision over turned. I will certainly go down this route but only after a solid 12+ months plus, ive recently taken out a Argos card and a catologe spend a small amount on it and cleared the balance over a few months ago doing this certainly helps.

Some may say your paying to get you credit history but your really talking minimum money plus i bought items which i was going to buy, be it a little bit more expensive.

Regards,



Imran

tomxlisa

cats2012 wrote: »

if you say your credit history is "pretty much perfect" have you checked your credit file? seems like you probably just don't have enough of a credit history to get a mainstream card but might be worth checking there isn't anything on there you don't know about as you are getting particularly high APRs and low lines.

Well I have one thing on my files which I have been paying off for about 3 years now and that's a catalogue, never missed a payment, all the other things are only about 6 months old, it could be the lack of time on the electoral roll or the simple fact I've still got a lot of credit building to be done, I'll just use the vanquis to help build my credit too and see how it is in another 6 months time, I have already got a capital one card, and a argos store card that is getting paid every month which should also help.