Turned down for credit card

Candyapple

deecahill wrote: »

Stupidly. the reason for the first rejection with MBNA was because he already has an MBNA card! I can't believe his oversight.

I find that odd as you are definitely allowed to hold 2 MBNA cards:
https://www.mbna.co.uk/understanding-credit/managing-credit/second-credit-card.html

I’ve applied for 3 cc’s and 2 bank accounts within a few days of each other, all been accepted. However, just because I have and many others have, doesn’t mean that your partner will.

Your partner's eligibility is not solely based on one factor; any combination of the following factors might be taken into consideration:

- amount of existing debt
- amount of existing available credit
- history of settled accounts
- average age of accounts held
- history of incurring defaults
- number of recent applications for credit
- age
- whether single, married, widowed, separated or divorced
- whether home-owner, tenant or living with parents
- whether you have any dependants
- whether they consider you have enough disposable income
- whether you're on the electoral register and for how long
- current employment status
- length of time with current employer
- salary

This is by no means an exhaustive list and how each credit-provider assesses you is different; some companies may not consider many of these factors, some may consider even more. Certain factors may not carry any weight and some might dictate the decision-making process completely - you'll never know.

If his 0% offer is ending soon and he can only clear half the balance with the new card, then he has 2 choices:

1. Clear the other half with savings / earnings
2. Apply for another BT card and hope his credit limit is big enough to cover the remaining half

Ben8282

deecahill wrote: »

Stupidly. the reason for the first rejection with MBNA was because he already has an MBNA card!

The decline was unexpected good luck then as if had got this new MBNA balance transfer card it would have been useless for the stated purpose of transferring the balance of the existing MBNA card to.

PRAISETHESUN

You can try applying for another card but I wouldn't expect to be accepted - multiple credit searches in a short period of time typical signal to lenders that you are desperate for credit and will make them less likely to lend to you. Keep the cards you've been accepted for - balance transfer as much as you can to the new card and then focus on paying off the excess that will soon start charging interest. Not sure about the MBNA second card issue, but in my experience whilst the eligibility checkers are useful guides, they are often pretty poor estimates of how likely you are to be accepted.

deecahill

Thanks for the reply. Yes, I think that's what he'll have to do. Pay the minimum on the new card and pay as much as possible off the old card to clear it.

deecahill

Candyapple, thanks. The application for the mbna card was specifically for a balance transfer and as he was transferring FROM an mbna card, I think that's why he was declined! Part of the application process asked which card he wanted to transfer a balance from.

System

!!! wrote: »

No it doesn’t and no it won’t

YES. IT. WILL.

Many searches in a short time WILL be detrimental to his credit file/history/rating.

I know what you are doing. What you spend all day doing on these forums. Being smug over nomenclature. It is clear that the person is referring to their credit file as their credit rating. Same difference, just different words.

Now stop DELIBERATELY confusing people and acting so smug. ITS NOT HELPFUL.

[Deleted User]

beany_bot wrote: »

YES. IT. WILL.

Many searches in a short time WILL be detrimental to his credit file/history/rating.

I know what you are doing. What you spend all day doing on these forums. Being smug over nomenclature. It is clear that the person is referring to their credit file as their credit rating. Same difference, just different words.

Now stop DELIBERATELY confusing people and acting so smug. ITS NOT HELPFUL.

I’m not. You’re the one that keeps bring such subject topics up.

A file is a file.
A rating is a rating (and non-existent at that).

You’re confusing posters more so than you realise

gionnetto

!!! wrote: »

A file is a file.
A rating is a rating (and non-existent at that).

Then please explain why, when your score drops, your eligibility for the same card drops from pre-approved to 90% in absence of any default, change in electoral roll status, or hard credit checks.

Cheers.

Ben8282

gionnetto wrote: »

Then please explain why, when your score drops, your eligibility for the same card drops from pre-approved to 90% in absence of any default, change in electoral roll status, or hard credit checks.

Cheers.

It doesn't. If this happened to you it is either pure coincidence or the opinion of the CRA who is advertising the particular card., the same CRA who dropped your credit score for no apparent reason.

[Deleted User]

gionnetto wrote: »

Then please explain why, when your score drops, your eligibility for the same card drops from pre-approved to 90% in absence of any default, change in electoral roll status, or hard credit checks.

Cheers.

I’m in the process of applying for a mortgage.

My fictitious score has dropped due to the hard searches carried out.

I’m still eligible for the same cards as before with the same acceptance rate and percentages.

Though obviously I won’t apply for one so as not to interfere with the mortgage process.