Black mark on credit rating if declined a credit card?

10_66

I’m a 2nd cardholder on my husband’s Capital One 4% cashback card at present. I was going to apply for one in my name now that the first 3 months have passed, so we can get another 4%. However, as I have not held a credit card in my name before, Capital One don’t rate me as having “good” credit. I rang to ask about it, and was told to apply anyway as other factors could mean that I could qualify. I asked what would happen if I still didn’t qualify and was told that I would either receive a letter declining an offer of any credit card, or receive an offer of an alternative card (which I don’t want). My question is, if I’m declined any credit card by them, does that go down as a “black mark” on my credit rating?

CLAPTON

your credit file will show a 'search' was carried out and not whether it was successful or otherwise.

if you have no credit cards in your name then getting any card will help your credit record in the long run..of course set up a DD to pay the full amount off each month so you never pay any interest.

YorkshireBoy

According to their credit rating criteria, you will not be accepted for either of the 4% cashback cards - primarily because you've never held a card in your own name.

Even if they show leniency and accept you for the 'good' credit rating product you will be charged an £18 annual fee.

Because you can generally (at least with their 0% offer cards) re-apply a month or so after closing a Capital One card, your husband might want to apply again in his own name...if indeed the product is still around then.

As Clapton infers, applying for the card will not damage your rating per se, so you might consider it's worth a punt anyway?

10_66

Many thanks for your replies. I've only just noticed that you have to earn a minimum of £10K, which eliminates me anyway. I didn't realise, though, that it boosts your credit rating to have a credit card, so will apply for one for which I do qualify.