Credit Card Application Denied - why?

phillw

MEM62 wrote: »

I am sure that you would not be upset if any other business didn't want your custom.

Most people would get upset if their custom was refused, some people even take the business to court.

T-G-C

You need to start with a sub-prime credit card. Although that particular account is a low-spectrum credit card, the lender is mainstream and will have much tighter standards.

Vanquis is a good starting point. Although the interest rate is high, the account should only be used to demonstrate sensible and sustainable use of credit, rather than borrowing over the grace period - which means with such use the interest rate is not applicable. After some time of doing this, lenders such as Barclays will be able to make a more informed decision about approving your application.

If you keep making applications with companies who will not accept someone with a limited history, it is harming your record rather than making a positive difference. Start with a lender who will accept you and then build-up from there. There is no shortcut to this process.

eskbanker

T-G-C wrote: »

You need to start with a sub-prime credit card. Although that particular account is a low-spectrum credit card, the lender is mainstream and will have much tighter standards.

Vanquis is a good starting point. Although the interest rate is high, the account should only be used to demonstrate sensible and sustainable use of credit, rather than borrowing over the grace period - which means with such use the interest rate is not applicable. After some time of doing this, lenders such as Barclays will be able to make a more informed decision about approving your application.

If you keep making applications with companies who will not accept someone with a limited history, it is harming your record rather than making a positive difference. Start with a lender who will accept you and then build-up from there. There is no shortcut to this process.

Not sure who your post is addressed to, but in OP's case, she clarified back at yesterday's post #9 that after speaking to Barclays they accepted her application....

emilylucy wrote: »

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!

T-G-C

eskbanker wrote: »

Not sure who your post is addressed to, but in OP's case, she clarified back at yesterday's post #9 that after speaking to Barclays they accepted her application....

I didn't see that, but the advice is still the same for those new to credit nevertheless. Barclays have decided in their case to give them an opportunity to build their file. In cases where they do not, there are alternative companies specifically designed for credit building, such as those I mentioned.