Rejected by Santander

PeacefulWaters

RG2015 wrote: »

Wouldn’t they have told the op that rather than pointing them to the Experian credit report?

I think you overestimate staff knowledge and automated letter production output.

RG2015

PeacefulWaters wrote: »

I think you overestimate staff knowledge and automated letter production output.

I live in hope.:)

I have also just joined the First Direct family and I am very surprised at their knowledge and financial acumen. I had not realised how much I had become conditioned to disappointing customer service over the years.

Whatever the reason, the op now has learnt a lot about his credit record in the last day or two.

Candyapple

flower77g wrote: »

I'm wondering if the original poster was rejected because Santander doesn't allow anyone to have two credit cards with them? Used to be the case.

You are allowed 2 Santander credit cards - I have the Zero and the Everyday card.

jlfrs

RG2015 wrote: »

I live in hope.:)

I have also just joined the First Direct family and I am very surprised at their knowledge and financial acumen. I had not realised how much I had become conditioned to disappointing customer service over the years.

Whatever the reason, the op now has learnt a lot about his credit record in the last day or two.

I have certainly learned how certain aspects of my financial affairs can affect a lender's decision on whether to say "yes" or "no" but clearly different lenders have different criteria. Experian has a feature where you can assess how likely you are to be accepted for a product by lender. Clearly, some are more strict than others, as was the case with Santander. I was and still am surprised that Santander chose a credit report on face value rather than assess risk based on historical data gathered over the last 12 years or so. I had expected an element of discretionary decision-making. No bother though, I have a shiny new card on the way from Sainsbury's instead!

RG2015

jlfrs wrote: »

I have certainly learned how certain aspects of my financial affairs can affect a lender's decision on whether to say "yes" or "no" but clearly different lenders have different criteria. Experian has a feature where you can assess how likely you are to be accepted for a product by lender. Clearly, some are more strict than others, as was the case with Santander. I was and still am surprised that Santander chose a credit report on face value rather than assess risk based on historical data gathered over the last 12 years or so. I had expected an element of discretionary decision-making. No bother though, I have a shiny new card on the way from Sainsbury's instead!

I agree, but what you refer to as face value is 4 negative facts about your credit history. Discretionary decision making requires human intervention and I expect that your application never got this far. Cost saving that allows the 123 account to be so appealing would have driven their approval process.

Ben8282

What has happened here does not necessarily mean that anything is wrong with your credit files or with your credit worthiness.
What it does mean is that Santander, for whatever reason, don't want to give you a second card. There could be many reasons for this. It could well be that the credit limit on your existing card is the maximum amount of credit that Santander feel happy about extending to you. Perhaps they have caught on that you are stoozing and know that you want to borrow the money to put it in an account for them to pay you interest on and they don't want that. It could be so many things.
There are many providers of credit cards. Take your custom elsewhere. Use an eligibility checker and apply elsewhere for a similar card. .

PixelPound

Candyapple wrote: »

You are allowed 2 Santander credit cards - I have the Zero and the Everyday card.

I had a zero card and a 123 credit card, closed the 123 card down and have opened an everyday card earlier this year, so I agree you can have 2 cards open.

PixelPound

jlfrs wrote: »

I have certainly learned how certain aspects of my financial affairs can affect a lender's decision on whether to say "yes" or "no" but clearly different lenders have different criteria. Experian has a feature where you can assess how likely you are to be accepted for a product by lender. Clearly, some are more strict than others, as was the case with Santander. I was and still am surprised that Santander chose a credit report on face value rather than assess risk based on historical data gathered over the last 12 years or so. I had expected an element of discretionary decision-making. No bother though, I have a shiny new card on the way from Sainsbury's instead!

The decision done by the computer, rather than a person. Did you use an affordability checker, like the MSE CC that includes your finances etc?

I opened a Sainsbury's card first and was given a lowish credit limit, so a few months later I got the everyday card and was given a limit twice what Sainsbury's did. Hope you get a better limit. The fact that you have been accepted by Sainsbury's even though you have a recent application already on file, probably means your credit history is okay. Who knows why Santander rejected you, it could be as stupid as they had already done a lot of new cards recently ;). At least you now have a card on the way you can use..