GRRRR!Turned down..but why..?

ferry

I've just applied online for a halifax CC and have been turned down,but dont know why.

I have a mortgage,never missed a payment,a CC with Egg,never missed a payment-in fact over pay to keep balance down.Homeowner on electoral roll
I have been with my bank for 20 years+..Full time employed with a good wage.
In fact I was acccepted for the Egg card only 6 months ago.No other applications since.I have had the Halifax Ultimate Reward Account for the last 8 months and have been paying in over £1500 every month since.Never O/D on this account..I have no other credit owing and have never missed a payment.
When I applied for the Halifax Ultimate Reward account I was also offered a CC(which I declined) as I had been accepted for that account.I understand you are credit checked for this account so we did the two together.
Whats changed in the last 8 months?There have been no missed payments on anything during this time yet they were able to offer me a CC when I opened the account.
Only thing I can think of is that remortgaged with a new lender only in July,but even then I was offered their lowest rate(and apparently the new mortagage lenders are one of the hardest to satisfy)

I'll call them tomorrow for some indications,but can anyone more experienced read between the lines and help explain why I may have been turned down now...:o
Thanks as usual

F

jonesMUFCforever

A general hardening of attitude by the banks before dishing out a card and perhaps a worry that you may over commit especially as they can see your limit with Egg?

ferry

Cheers I can see your point with the general hardening recently but feel its a little harsh,especially with my history and only a £1500 Egg balance against a £5000 limit too?
Was also going to BT this to Halifax anyway!:mad:

Regards
Ferry

jonesMUFCforever

They are not interested in what you owe unless you have been late with payments or defaulted altogether. What concerns them is that you have a potential line of credit of £5000 + whatever the limit you would have had on a new card + your mortgage payments.

You say that you are on a good wage so are you a net saver or spender most months (ie do you put money away every month or are you using an overdraft?)?
If you say that you are a net saver why do you owe £1500 with Egg?

Not criticising how you live your life just thinking out aloud at what may be the reason for your decline

hillendale

ferry wrote: »

I've just applied online for a halifax CC and have been turned down,but dont know why.

I have a mortgage,never missed a payment,a CC with Egg,never missed a payment-in fact over pay to keep balance down.Homeowner on electoral roll
I have been with my bank for 20 years+..Full time employed with a good wage.
In fact I was acccepted for the Egg card only 6 months ago.No other applications since.I have had the Halifax Ultimate Reward Account for the last 8 months and have been paying in over £1500 every month since.Never O/D on this account..I have no other credit owing and have never missed a payment.
When I applied for the Halifax Ultimate Reward account I was also offered a CC(which I declined) as I had been accepted for that account.I understand you are credit checked for this account so we did the two together.
Whats changed in the last 8 months?There have been no missed payments on anything during this time yet they were able to offer me a CC when I opened the account.
Only thing I can think of is that remortgaged with a new lender only in July,but even then I was offered their lowest rate(and apparently the new mortagage lenders are one of the hardest to satisfy)

I'll call them tomorrow for some indications,but can anyone more experienced read between the lines and help explain why I may have been turned down now...:o
Thanks as usual

F

I can't understand why the Halifax have knocked you back on your credit card application , like you say your accounts have been run ok . I'm with the Halifax and also have an ultimate account with a £ 4500 over draft plus 2 c/c cards with them one with a £12k limit & 1 with a £8k limit . I also have 2 egg c/c cards egg money card £4k limit and egg visa £14k limit .
The halifax offered me the c/c card with the £12k limit about a month ago all the others i've had for some time so i can't understand why your egg c/c card with the £5k limit could have affected your Halifax c/c application . It may be a good idea to check your credit file to check everything is in order also go into your local Halifax branch and speak with someone they may be able to shed some light on the matter .
Hope this hepls you
regards

ferry

Thanks for the responses-I plan to get a copy of my credit report as soon as possible to see if anythings incorrect there.

Also,is a failed application recorded on a credit file or does it just appear as a search?

wyebird

Just as a search