Turned down for credit card

deecahill

My partner has just gone through the eligibility checker on here and it came up as 95% likely to be approved for a number of cards. He went through the application process for the MBNA balance transfer card and has just been declined. Was a bit of a shock since this means he must be one of the 5% that won't get it!

What now? Should he apply for one of the others that he's 95% likely to get? There are no cards that say 100% will get so I'm worried if he applies for another and gets turned down, it's going to show two declines on his credit file.

Can anyone advise please? He has £9k on his current card but we were expecting him to get a lower amount initially when approved for a new card.

Thank you.

[Deleted User]

He should apply for one more.

No declines will show on his file - just the searches.

If declined again, leave it for a month or so.

deecahill

Thank you! Will do that.

MovingForwards

Has he had a look at all his credit reports, gone through this history and checked to see if anything is showing as late payments, defaults, CCJs etc?

Ben8282

When you say he has 9k on his current card, is this the balance or the credit limit?
If it is the balance, what is the credit limit?
If this is the balance, is he currently paying interest on it?
You say his other credit card, Does this mean he currently has only one credit card?
If the situation is that he has only one credit card with a 9k balance on which he is paying interest and is very near to his credit limit, this would be the most likely reason for the decline..

deecahill

Thanks for the responses.

Stupidly. the reason for the first rejection with MBNA was because he already has an MBNA card! I can't believe his oversight. The 0% interest free period on his MBNA card is about to expire so he really needs to shift the balance which currently stands at £9k. I think the limit on the card is about £12k.

He applied for a Halifax card and has been accepted. However, the credit limit is just under half of what he needs in order to transfer the balance from his MBNA card. Is it risky to apply for another card at this stage? Does anyone have any experience of this?

Thanks!

deecahill

He has two cards in total. One with MBNA with a £9k balance on it which is about to expire its 0% interest period.
The other card is on 0% interest which he is paying back - balance on this one is about £1500.

[Deleted User]

He should make one more application, then leave it.

Claddagh_Noir

The more applications he makes in a short space of time will be detrimental to his credit rating, it will look like hes trying to borrow more than he can realistically afford to pay back.

[Deleted User]

Claddagh_Noir wrote: »

The more applications he makes in a short space of time will be detrimental to his credit rating, it will look like hes trying to borrow more than he can realistically afford to pay back.

No it doesn’t and no it won’t

deecahill

Some conflicting opinions on here so not sure if it's worth applying for another card or not. Does anyone have any experience of applying and getting accepted for two cards within a short timescale?