Virgin Mastercard Rejection, help me understand why

Roeshan

I just applied for a Virgin Airlines Mastercard and was rejected and don't understand why. Here are my stats. I'm an American but have lived in the UK for 8+ years (also a UK citizen now). I am currently unemployed, but our household income is over £500,000. We have only one other UK credit card with a £12,000 limit and spend between £2,000-6,000 monthly and it's always paid in full. No other debt (two US credit cards, which I don't think matter here, together have a higher balance and higher spend but again also always paid in full). What is the problem here? We are renters in London, bills always paid on time, never once delinquent in all our time here. What am I missing? I want a credit card that earns us miles because our current one does nothing.

Louoffofsparkle

Because you’re unemployed?
Get your partner to apply for it instead

BoGoF

You refer to 'we' a lot. There is no such thing as a joint credit card in the UK so I assume it is in your partners name?

As above, you have no income and the vast majority of UK cards need the applicant to have an income.

Roeshan

I wondered this, but with how they set up the application there is no indication that this is a problem. Thanks.

boo_star

Roeshan wrote: »

I wondered this, but with how they set up the application there is no indication that this is a problem. Thanks.

They won't usually tell you what is going to result in a decline. All it will really achieve is to encourage people who will fall foul of one of these exclusions to lie on their application.

Roeshan

BoGoF, this makes sense. The application isn't designed to lead me to think that I couldn't fill it out for me and a second card for my husband using our household income. So question is, can we/he reapply under his name now? Will that be accepted even though they say not to reapply for 6 months, because he was named as a second card holder on my rejected application today?
Thanks.

[Deleted User]

Only you have made an application. He can apply under his name.

[Deleted User]

There are no joint cards here in the uk.
The main card holder is responsible for all debts.

Have your partner apply again under his name since he is the one with the income etc.

Ben8282

It is a shame that you didn't think to use the eligibility checker on the Virgin Money website before applying.
I assume that you entered your income as 0 and other household income as £500,000? This 'other household income' question is asked on the application form.
I must say that your (as a couple) existing credit facilities (one credit card) and your credit limit (£12,000) are grossly disproportionate to annual income (£500,000+) and monthly credit card spend (£2,000 - £6,000). Depending on how this credit card reports (ie the reporting date in relation to your payment date), if you pay by direct debit each month and spend up to half your credit limit each month, you could be showing a very high utilisation %.
As there is no such thing as a joint credit card, whose name is this existing credit card in? If it is in your husband's name with you as an additional cardholder, then do you actually have any credit accounts in your own name?
Also, it is very hard to believe that with your income level you exist on one credit card which gives you nothing, No charge card? Nothing else?
As your husband has made no application, there is nothing to stop him applying for a card now. However, he should be prepared to show proof of income if requested.

Roeshan

Hi Ben, Not sure I understand all that you mentioned. The current UK credit card is in my husband's name, and I am a second card holder. We have had this account for over 10 years. When we first moved here they gave us a crazy low limit of £1000 a month, and they steadily increased it to £12,000 where it's been for 7 years or so. We've never needed or asked for more. We use our UK debit card a lot too, or cash. We also have two US credit cards (with a total limit of around $45K), but I don't think those cards are factored in to our UK credit at all, so I don't mention much about them in this question. We use them a lot, but always pay 100% of all credit cards every month. I am not sure what else is computed in credit here (it's so different than the US and without SSN attached to a credit history I am not even clear on how credit histories even exist in the UK with accuracy). My mobile phone account is in my name. I have one small store credit card (that I seldom use in my name). Utilities are in my name. Not sure what you're thinking is here. I did enter my income as zero and the "household income" as £540K. Are we doing something wrong that is affecting our ability to get a new credit card? Other than what has been pointed out to me about having my husband apply for the card instead of me? If not I find it so strange that we are unable to get a new card given our income and credit. Thanks for your thoughts.

[Deleted User]

Yes.
your income as the cardholder is zero