Getting Rejected all the time

Carp3Di3m

Hello I have recently checked my credit scoring with these scores


Experian 654
Callcredit 797
Equifax 837

and as I would like to balance transfer about 1000£ from a card with limit of 4300£ to a new card I get rejected all the time when I apply for a card.

What can I now do to improve my situation?
I have one late payment on my file from my Communications Supplier which inst my fault because they didn't book the money via direct debit in that month. As I contacted Equifax they advised me to contact my Communications Supplier lets call them V. But V says they don't have any kind of late payment booked.
What can i do about that? Who is responsible to delte this entry?

kitchen_buff

I have posted this a few times. Unfortunately it is nothing to do with your credit score. There is an issue with banks and card companies approving new card applications. This is because of the credit cruch and sub prime lending markets. banks are reluctant to lend each other money, so when you buy on credit cards they borrow the money to pay the retailers and because they have stopped lending each other money they are refusing a lot of new apps for credit cards. Keep trying, however be careful the more you apply the more it will affect your credit rating.

Carp3Di3m

thanks for the info, but i am wondering why my wife, no income, but with no credit search gets 2 cards.

Very logical system this credit scoring

Paul_Herring

Carp3Di3m wrote: »

Hello I have recently checked my credit scoring with these scores


Experian 654
Callcredit 797
Equifax 837

These numbers, while very nice, are basically meaningless for what you're using them for. The CC companies will have their own method of credit scoring, and the numbers they come up with will likely be very different to those.

I have one late payment on my file from my Communications Supplier which inst my fault because they didn't book the money via direct debit in that month.
As I contacted E

quifax they advised me to contact my Communications Supplier lets call them V. But V says they don't have any kind of late payment booked.
What can i do about that? Who is responsible to delte this entry?

V is responsible, and if they say they don't have any kind of late payment booked, but there's a mark on your credit report from them, they are the ones who should remove it, regardless of whether they have a record of it on their system or not.

Edit: Dunno what's causing that break in the quote - I've removed the </quote><quote> in there but it keeps coming back.

PBA

kitchen_buff wrote: »

This is because of the credit cruch and sub prime lending markets. banks are reluctant to lend each other money, so when you buy on credit cards they borrow the money to pay the retailers and because they have stopped lending each other money they are refusing a lot of new apps for credit cards.

Not true. Credit cards are generally 15%+ APR. Banks are having no problem at all borrowing at that kind of rate!

nickmack

Carp3Di3m wrote: »

thanks for the info, but i am wondering why my wife, no income, but with no credit search gets 2 cards.

Very logical system this credit scoring

As stated above, these 'scores' have virtually no bearing on the decisions made by most companies when performing a credit check.

Each company has their own criteria and their assessment of your record can be quite different from another.

With particular reference to your statement regarding your wife having credit cards and you being rejected, bear in mind many issuers have a profile.

They don't necessarily issue to applicants with a 'good' record, but rather those who fit their particular profile at that time. Indeed, if your record is 'good', you may be rejected for that reason. Capital One seems to be a good example of a company that seems to reject certain applicants in favour of those who fit a particular profile.

exel1966

As the others have said the scores you have are meaningless. I'll give you a perfect score of 1000 if you like, but it wouldn't guarantee any c/card company giving you an account as It means just as much as the others......Nothing !! I'm afraid the CRA's use these figures as a marketing ploy to relieve you fof a few quid.
Each company will assess an applicants suitability on their own Unique criteria as well as cherry picking people based upon their customer profile. Whilst your profile may not work for them now, it could do in 6 months time.
One late payment will have a negliable, if any adverse effect on your overall credit rating.

StevieJ

PBA wrote: »

Not true. Credit cards are generally 15%+ APR. Banks are having no problem at all borrowing at that kind of rate!

I think most people pay credit cards off in full, although they do receive cahback off retailers.
Anyone know what the cashback % is that Credit card companies receive?

Zebedee69

Experian 654
Callcredit 797
Equifax 837

These scores are actually pretty bad.......

My score from a year ago was 650...... Here is what they said back then......

Your National Credit Score**

Your score is: 650 on a scale of 0-1000
A higher score generally indicates that lenders will consider it less risky to lend money to you.
This score reflects the information held by Experian on the date show here: 12/02/2007
Your credit score category is:

Very Poor Poor Fair Good Excellent

How you compare against the Nation:
In comparison, your National Credit Score is higher than that of 20.00% of UK consumers applying for credit.
**Your National Credit Score is based upon your Experian credit history. This is the information contained on your Experian credit report. You can use your National Credit Score to see how your credit history might influence a lending decision.
About credit scoring

Credit scoring is an automated technique used by lenders to help them decide whether or not to lend. The information included on your credit report, together with the information you provide on an application form to a shop or lender, can be used to calculate a credit score. This helps the company identify the risk in offering you credit and helps them to lend responsibly. Credit scores do not take account of gender, religion or race.
Click here if you wish to learn more about credit scoring.
What your credit score means:

This score suggests you are a high risk borrower - many applicants with this score may have repayment difficulties if they take out more credit. This score will usually mean your report shows that you have had repayment problems in the recent past. Anyone with this low score should look carefully at their borrowing to make sure they are not over-committing themselves. If you already have debts you cannot pay, speak to your lenders first - a list of useful addresses is included with your credit report. Lenders may agree to let you make lower repayments that you will find easier to manage. You may also find it helpful to talk to the following agencies for free, confidential and independent advice:

• Your local Citizens Advice Bureau or money advice centre (see your local Phone Book)
• The Consumer Credit Counselling Service whose advisors will help you work out a realistic payment plan for all your debts (Phone 0800 138 1111)
• The National Debtline which offers a similar service by telephone and will send you a free self-help pack "Dealing with your debts" (Phone 0808 808 4000)

Your National Credit Score is only a guide to help you to see how your credit report information may affect a lender's credit decision. The fact that a low score has been calculated does not definitely mean that you will be refused credit by all lenders. If you are refused we suggest you try to find out the reason why before making any more applications. You need to ask the lender who has refused you credit, but your report may also help you understand why. Please bear in mind that different lenders use different rules when calculating their scores and that they will have decided their target market - this will affect their decisions.
If you are not financially over-committed but you have a low score, check the

My score now is 900 and only this week iv been accepted for a Lloyds TSB airmiles duo card......

I would think the only card your likely to get is a Cap1 or Vanquis.....