Perfect credit score and eligibility checker and still declined credit

Dak3931

Having identified the Halifax Clarity credit card as the one most suited to me, I performed the MSE eligibility check which returned a 95% likelihood of acceptance. I an online application and also used the Halifax eligibility checker which indicated an 80% chance of acceptance.My application was declined.
I have a number of accounts with Lloyds (Halifax is part of the Lloyds Banking Group) and a visit to the branch confirmed I was not eligible for a credit card. I currently hold a Lloyds credit card with a very small balance and was advised to do credit checks to find the issue. I have an excellent credit score with equifax and experian and for some reason a 3/5 with credit call. Nothing on file indicates why I should have been declined and I have appealed. I must add that Lloyds say I am a low risk customer and was eligible for a £25k personal loan!. Unless LBG respond with a decent excuse, I will move all my accounts from LBG to another bank.

[Deleted User]

You have just discovered why credit scores mean nothing. You're the only one who ever sees it.

They may have their targets or you may not be their target customer. Don't take it personally.

DCFC79

Dak3931 wrote: »

Having identified the Halifax Clarity credit card as the one most suited to me, I performed the MSE eligibility check which returned a 95% likelihood of acceptance. I an online application and also used the Halifax eligibility checker which indicated an 80% chance of acceptance.My application was declined.
I have a number of accounts with Lloyds (Halifax is part of the Lloyds Banking Group) and a visit to the branch confirmed I was not eligible for a credit card. I currently hold a Lloyds credit card with a very small balance and was advised to do credit checks to find the issue. I have an excellent credit score with equifax and experian and for some reason a 3/5 with credit call. Nothing on file indicates why I should have been declined and I have appealed. I must add that Lloyds say I am a low risk customer and was eligible for a £25k personal loan!. Unless LBG respond with a decent excuse, I will move all my accounts from LBG to another bank.

As Equifax and Experian rate you as excellant and call credit give you a 3/5 you really should ask these guys to be your guarator for the credit card you desire.

Move your accounts if you wish, I'm sure they wont miss you, the customers of Lloyds who are left may well bask in the glory of being accepted for credit cards and the like.

And now back to reality, your score is of no use to anyone, no 1 can see it. I can send you a pack of ginger biscuits if it will make you feel better. Your perfect scores are in no way a dead set guarantee you will be accepted for future credit.

glentoran99

Can I have the ginger biscuits?

DCFC79

glentoran99 wrote: »

Can I have the ginger biscuits?

Sure you can if you promise to improve the OP's credit score.

glentoran99

DCFC79 wrote: »

Sure you can if you promise to improve the OP's credit score.

He can have mine, I don't need it, 908 on Experian with 3 defaults on file


Seriously though there should be some sort of bot on here that when someone mentions credit score it posts the standard "ignore its meaningless"

Thrugelmir

Dak3931 wrote: »

I must add that Lloyds say I am a low risk customer and was eligible for a £25k personal loan!

Do you have that in writing. Or did the normal caveats of subject to apply..........

Parva

Let's not also forget that 'eligible' does not mean accepted.

Dak3931

Thank you to those who responded and the offer of the ginger biscuits.

I accept your views on credit scores but feel that this should be reflected in the advice given by MSE.

Thanks for the quote about living within my means which I already do. A credit card offers protection that cash and debit cards do not and also in this case no transaction or usage fees abroad.

I have appealed the result and await a response and will move my accounts, not because it will an any way effect Lloyds but it will make me feel better and that is what counts,

Pixie5740

MSE does advise that there's no such thing as a universal credit score. MSE even produced this handy little guide.

http://www.moneysavingexpert.com/loans/credit-rating-credit-score