Rejected card application, how to solve?

Asghar

Jamopy wrote: »

So as someone with no debts, no CCJs, a regular income, and this being my only application for credit of any kind, how was i classified as not a low-risk applicant?

I'm trying to pin down specifics that i might be able to work with.

Precisely because you have no debts, it helps to have a credit history.

Main stream lenders have stricter criteria and are less likely to offer you credit as you have no borrowing history and they cannot be certain if you will pay them back.

If you had some credit cards or loans already and are making the payments, or had cleared some in the past, (i.e you repay your debts) then you are deemed more trustworthy.

My wife had never had any debt, credit cards or loans and only works part time. She applied and was accepted for the Tesco Foundation Credit Card with a £250 limit, now gone up to £600.
Using it and paying off the balance will build up her credit history.

A4445

Jamopy wrote: »

So as someone with no debts, no CCJs, a regular income, and this being my only application for credit of any kind, how was i classified as not a low-risk applicant?

Unfortunately with no previous credit history you are high risk as there is no information available on how you will manage an account. Not to worry tho everyone has to start somewhere. Try for a subprime card like capital one and in a years time you will be in a better position for a better card.

[Deleted User]

You have no previous credit history. That!!!8217;s likely why.

No lender is obliged to accept you for their products and they!!!8217;re also not obliged to provide a reason why.

As already stated ignore the made up CRA scores.

They applying for a card with a sub-prime lender first.

Always use an eligibility checker as well

TheShape

Willing2Learn wrote: »

You would be unlikely to meet the Nationwide credit scoring criteria as you have a limited credit history. You would be seen as a high risk applicant.

Perhaps. My first credit card was the Nationwide Select Credit Card with my only credit history being a mobile phone contract and an authorised overdraft facility.

I expect the management of your account is very important if you are applying a Credit Card with an organisation that you bank with and where you have a limited Credit History.

I imagine the OP's level of income, whether this income/salary gets paid into the Nationwide account, how long the account has been open for, whether they have an authorised overdraft, if they use it, how often etc will have quite an influence on the application.