Credit Card Application Denied - why?

emilylucy

Hello,

I recently applied for my first credit card (the Barclaycard Forward, specifically designed for first time credit card users). My application was denied on the basis of 'not enough information to make an informed decision'.

I supplied all the required details. I have no other access to credit (other than a graduate account overdraft which I am unlikely to use being well into the black), am in full time employment with a high salary, and have no negative credit history. I was upset to have my application rejected, particularly since I had applied for a 'first-time credit card', and am concerned about have my credit history damaged, being a very careful user of my money. The purpose of getting this card was to begin building a credit history.

Can anyone advise on what I might do? I have appealed the decision with my bank and they have said they will get back to me.

Many thanks!

System

Your credit file isn't damaged with one standalone search. If you are curious as to why you were rejected then ask them.

NaughtiusMaximus

Could be any one of a number of reasons:

Are you on the voters roll?
Have you moved house a lot?
How long have you held your main current account for?
How long have you been in your current job?
Have you checked your experian/equifax reports for any errors on your file?

You can ask but you may not get a helpful response, the one time I did I was given a useless response along the lines of 'you don't meet our lending criteria'.

[Deleted User]

Try someone like aqua or Vanquis.

jay1804

All lenders are different, try with one of the sub prime lenders, Aqua, vanquis, etc.

MEM62

emilylucy wrote: »

I was upset to have my application rejected, particularly since I had applied for a 'first-time credit card', and am concerned about have my credit history damaged, being a very careful user of my money.

I am sure that you would not be upset if any other business didn't want your custom. You would just move on and take your business elsewhere. Why therefore would a bank not wanting your business upset you?

And you need not worry about this damaging your credit file. It won't.

As for the reasons, it could be a thin file (not much history) or that you simply do not fit the banks preferred customer profile or target market. Either way, just move on and try another application.

Ben8282

Suggest that you apply to the bank where you have the current account that your high salary paid into with the overdraft facility that you are unlikely to use as the account is well into the black. They will be in a better position to assess your financial situation and issue you with a credit card.

A4445

Try capital one they have quick check that will tell you if you will be accepted.

emilylucy

Thanks for all the responses, they've all been really helpful.

I ended up contacting Barclays and asked them to review the application manually - they did and I've now been approved for the card. Just goes to show it's worth challenging as they said it goes through an automatic check first!

[Deleted User]

emilylucy wrote: »

Thanks for all the responses, they've all been really helpful.

I ended up contacting Barclays and asked them to review the application manually - they did and I've now been approved for the card. Just goes to show it's worth challenging as they said it goes through an automatic check first!

That's good. It just shows how ineffective these automated systems can be. At least Barclays offered a manual assessment, unlike Sainsbury's Bank which, when 'computer says no' that's the end of it.

emilylucy

How irritating from Sainsbury's. I was actually very impressed with Barclay's customer service over this - received a very polite and helpful phone call from a customer service manager who promised to look into it, and a few hours later received another call confirming my application had now been accepted.

Wish more banks could do the same...