MSE 95% but application denied!

Freddie

I just applied for the Halifax Clarity card (for my upcoming holiday) and was denied!:eek: . The MSE calculator said I had a 95% chance of being accepted, plus I've NEVER been denied a CC before - not sure what's happened - any ideas/advice? I really would like to have a good cc for my travels next month but am scared to do another application now...!

MallyGirl

so you are in the 5%.

It will come down to affordability, exposure to existing credit (total limits vs salary), credit history, ...

[Deleted User]

95% acceptances means 5% rejection. You're in the second group.

Check your files to see if all the info is correct.

Have a look at your total available credit - it may be reaching an excessively high level.

Make another application for an alternative card. If rejected, leave it a few months.

Freddie

Still doesn't make sense even taking all that into consideration.

I have just cancelled the 2 cc's I don't use - will that make any difference? How long until that shows?

I can't wait a few months as I needed the cc for my holiday in Aug.

takman

Get the Monzo Card instead, it also offer purchases and withdrawals at an almost perfect exchange rate and doesn't require a credit check because it's a prepaid card.

john1002

It can take a few months for credit card closures to filter through, all depends on the provider as with anything some are faster than others I'm afraid. There might be no problems they just don't want you as a customer, frustrating but credit is not a right, try another card that suits your travel plans but if declined then get all three credit files just to make sure all info correct.

Good luck, try creation at least you get the company who is providing credit to tell you like MSE if your eligible and proceed on there calculator. They use equifax rather than experian to soft search.

John

redux

For spending, try Aqua Reward - also no currency loading, and 0.5% cashback.

If you want to withdraw cash, look at prepaid debit cards like Revolut or a couple of others - see MSE article somewhere about these.

Freddie

Unfortunately Monzo (or any other prepaid card) is not really an option as I need it to pay for hotel and car hire (and petrol). Plus I'd like any purchases to be protected.

nb0825

When does 95% chance equal to 100%? 5 in every 100 people get rejected. You are 1 of the 5. Unlucky!

eskbanker

As you've left it so late and may only have one more application to play with before they become self-defeating, you might find it worth posting as much information as possible about your credit situation, i.e. which cards you already have, limits, balances, rates, repayment history, etc, plus any other debts, info on salary, etc, to get the best chance of recommendations that fit well....

DCFC79

Hindsight is wonderful.

You should have got a card sorted months ago really.

There are other cards you could apply for that are suitable for spending abroad which you can still apply for.