Declined on all credit card applications

Emma3535

What would you suggest to try and improve my chances. I could pay one of my loans off early?

[Deleted User]

If you can, then pay off the loans, and use the cards regularly, paying off in full. Stay away from your credit limit.

You're aiming to look like you don't particularly need credit. At the moment, with two loans and a maxed out card (even though you're clearing in full), you're looking a bit desperate for cash.

A4445

Somethings not right here....I was approved for a Capital One card starting with £1500 limit. I had 20 defaults and a discharged bankruptcy. Admittedly they defaults and bankruptcy were practically 6 years old but still. You have nothing bad and only a £500 limit?

Emma3535

Yes I got a £500 limit but I had never previously had a credit card or any revolving credit besides from my overdraft which I don't use.

giblet10

Do you have your £71k income paid into your Lloyds account? I'm surprised they won't give you a card at that income - have you ever had issues with the way your account is run? There may be a Credit Policy Decline (CPD) marker on your Lloyds account if so - it's a notoriously difficult thing to overcome with Lloyds and we've seen people on here who have had to ditch their Lloyds relationship when CPD markers are put on. That's just one possibility though.
One other thought..you don't get your income from abroad do you? That makes banks nervous too..

dktreesea

Emma3535 wrote: »

My income is 71,000 after tax one loan was 4,000 half paid and loyds was 3,000, 1,400 left. I previously had no credit cards before I got the credit builder it was my first card but surely after 9 months I can move onto something with a lower apr incase I want to carry over a balance and cash back for all the purchases i'm making?

Lloyds are being too rude for words. Take your business elsewhere. I recommend an advance account (won't have any monthly fees but fits with your income) with HSBC.


Make sure they offer you a 0% balance transfer card then transfer whatever is outstanding on your other card to it.

MABLE

As one contributor has already said there has to be more to see story than the OP is letting on. I have been with Lloyds and various other banks for a great number of years and certainly do not have an income in the range OP has said she receives and I get very good offers all the time.

The main problem may be where the income comes from and how regularly it is paid into the account.

Emma3535

I got accepted for the Nationwide credit card just got to show I.D. now and was quoted with a limit of £3500 and 19.8% APR but I opted for a lower credit limit. 0% purchases for 12 months ! Do I close my Capital One account as I heard this could damage my credit.

dktreesea

Emma3535 wrote: »

I got accepted for the Nationwide credit card just got to show I.D. now and was quoted with a limit of £3500 and 19.8% APR but I opted for a lower credit limit. 0% purchases for 12 months ! Do I close my Capital One account as I heard this could damage my credit.

A Nationwide credit card is probably better quality than a Capital One card. I still think, though, you need to look at a better, longer term, banking solution. At some point you would probably be needing a mortgage. Is a cash strapped bank like Lloyds one you want to keep supporting?