We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Refused credit cards despite Experian score of 999

2»

Comments

  • Dobbibill
    Dobbibill Posts: 4,146 Ambassador
    Tenth Anniversary 1,000 Posts Mortgage-free Glee! Name Dropper
    I'm trying to write something sensible for you OP but YB & zx81 have made me chuckle now so I can't concentrate :D

    Oh yes, ring your bank and just ask CS (customer services) if you are likely to be eligible for a CC with them. They won't need to do an application to tell you if it's possible so at least it won't be another wasted footprint on your CR if you're not.

    You can then decide if you want to stay on the phone and do an application or do it online.......same result you will get either way but at least you will have a 'heads up' from them.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • rtho782
    rtho782 Posts: 1,189 Forumite
    Part of the Furniture 1,000 Posts
    Use the credit card eligibility calculator on this site to give yourself an idea of what you might be accepted for
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    rtho782 wrote: »
    Use the credit card eligibility calculator on this site to give yourself an idea of what you might be accepted for
    OP's already done that. It said MBNA 95% chance, but the application was declined. I still think their own bank will be the best bet, especially with two very recent searches on their file.
  • 20aday
    20aday Posts: 2,610 Forumite
    Ninth Anniversary 1,000 Posts Combo Breaker PPI Party Pooper
    I'd also agree trying your own bank first.

    Failing that Capital One offer a 'soft search' facility: https://www.capitalone.co.uk/creditcards/secure/find-my-card.jsf

    Yes it's a high APR but if you're clearing your statement balance in full each month it doesn't matter.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    edited 1 November 2016 at 4:20AM
    You really need to establish the most probable cause for these refusals.
    Your 999 Experian score probably means that your credit files contain no adverse information, but do they actually contain anything really beneficial such as a history of on time payments on several accounts over a prolonged period?
    The fact that you were given high % chances of being accepted for these cards but were subsequently declined would imply that the cause of these declines was something other than what is on your credit report.
    Some suggestions as to possible causes:
    Low income.
    High balances on other credit products (loans etc)
    Frequent use of overdraft
    Taking out payday loans even if paid on time.
    Short time at current address.
    Frequent recent changes of address.
    Short time in employment.
    Frequent recent changes of employment.
    Being self-employed especially if recently becoming self-employed.
    False or incorrect information on application form.
    Something else somehow unusual about your personal circumstances.
    You may never know for sure but if there is anything above that would apply to you then that may well be the reason.
    Alternatively it may be the type of product that you have applied for. You have no history of credit cards. If you have applied for one of the top BT cards, you will be unlikely to get it.

    As you have now made 2 unsuccessful applications, unless your need is urgent I would suggest waiting a while before applying again then firstly try the bank that you have a current account with and which receives your pay. They should be able to give you an indication of eligibility for one of their cards without actually applying. Failing that, try a high APR credit builder card in the first instance then build up a credit card history on that before you apply for something better..
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 346.7K Banking & Borrowing
  • 251.4K Reduce Debt & Boost Income
  • 451.4K Spending & Discounts
  • 238.9K Work, Benefits & Business
  • 614.4K Mortgages, Homes & Bills
  • 174.8K Life & Family
  • 252.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.