Should I try again with Lloyds or go somewhere else?

MyUsername

I recently applied for a Lloyds Credit Card which I was accepted for although after 14 days I didn't hear anything from them so I called them up and they mentioned that they had a computer problem but then they checked my application and as I am a full time student but with another regular income they rejected it but told me to re-apply when I graduate.

Annoyed by this I made a complaint and they annulled my application entirely so that it doesn't go down on my credit report and gave me £75 in compensation and apologized, I did mention at the time that I had held a current account for 17 years and I would have to look at moving if it was the case that I was accepted for something and then rejected based on information I was told at the time.

Anyway I was told I that I could re-apply for it if I wanted and that I would be accepted without the hassle if I wanted to.

I was wondering though would you re-apply or would you look to go elsewhere in this situation?

john2054

Don't reapply, they will only say no again. If they were going to give you a student account, they would have done so already. Shop around is my advice....

Dobbibill

Try this and see what likelihood you have of acceptance with many CCs.

https://www.moneysavingexpert.com/eligibility/

Select the type of card you want on the right

Remember this is not guaranteed and every lender may still reject you as they assess you at the time of your application.

If you are rejected, don't take it personally.

MyUsername

john2054 wrote: »

Don't reapply, they will only say no again. If they were going to give you a student account, they would have done so already. Shop around is my advice....

I have regularly been offered the student account but it wouldn't be in my financial interest as having one as I am not a typical student.

Dobbibill wrote: »

Try this and see what likelihood you have of acceptance with many CCs.

https://www.moneysavingexpert.com/eligibility/

Select the type of card you want on the right

Remember this is not guaranteed and every lender may still reject you as they assess you at the time of your application.

If you are rejected, don't take it personally.

I will have a look at it cheers.

With Lloyds I would have been happy if they said no at the start because at the end of the day its their money and they can lend to whoever they wish. What I wasn't happy about though was being accepted then two weeks later having to phone up and then being rejected on something that I told them from the very start.

john2054

I don't know what you mean by it 'wouldn't be in my interest'? A student account, gives you a large interest free overdraft, current account, which you get to keep for 3 years. It makes sense to get this. They may revoke it at the end of your time, or they may not, that is up to them. But this is a great chance to get your foot on the 'credit' ladder. I have a £1840 student account with the coop, and my degree finished last year. You have to be in full time education though. All of the major banks offer them.

MyUsername

john2054 wrote: »

I don't know what you mean by it 'wouldn't be in my interest'? A student account, gives you a large interest free overdraft, current account, which you get to keep for 3 years. It makes sense to get this. They may revoke it at the end of your time, or they may not, that is up to them. But this is a great chance to get your foot on the 'credit' ladder. I have a £1840 student account with the coop, and my degree finished last year. You have to be in full time education though. All of the major banks offer them.

Student accounts are good and the overdraft is attractive to most people but I am not a typical student so the overdraft isn't attractive to me.

john2054

what do you mean by 'i am not the typical student', do you mean you would cash in the full overdraft and spend it right away? In which case i agree, a student account is not the right thing for you!

MyUsername

john2054 wrote: »

what do you mean by 'i am not the typical student', do you mean you would cash in the full overdraft and spend it right away? In which case i agree, a student account is not the right thing for you!

No its I am a disabled student so I have my DLA paid into the account so I am not in need of the overdraft plus many banks offer the 16-25 railcard which is great for most people but as I have a disabled railcard there is no need for me to have a 16-25 one.

john2054

I was also a disabled student. And they stopped my benefits. This is why i need my credit cards. I hope you are never in the same position!

Mrs_Ryan

As a disabled student I'm not entitled to a student account and I'm actually really quite glad! I have a bog standard full current account which is good enough for me!

john2054

i don't see why being disabled would stop you. unless you were planning on studying part time. Is that it?