Virgin Pre-approved Isn't pre-approved

wp408

Filled out a CC application yesterday for Virgin Money Balance Transfer card. I went thru Credit Club and Virgin Moneys website to see if I was pre-approved (100%) for the card and I was. All I needed to was apply.

Once the application was complete there was no instant decision. The application was sent to the underwriters for a decision which is pretty odd considering all the I've had cards with Virgin Money before. Check back this morning and suddenly I've been refused.

I wouldn't have applied were I to know i would have been refused like this. Especially as Credit Club has said all I needed to do was go thru and ID check for the card.

Is this a case I can complain about to the industry watch dog about? Pretty miffed my credit score will go down now due to this.

[Deleted User]

No, there's no reason for complaint. All applications need a hard search and final approval.

Don't be 'miffed' if your pretend credit score goes down. After all, no one will ever know apart from you and one search won't cause anyone any alarm.

Willing2Learn

Why don't you give them a ring and ask for manual review? I am assuming you have checked your credit files to confirm accuracy and that there is no negative data...

Ben8282

You should have used Virgins own eligibility checker on their own site.
Your credit score will not necessarily go down. Experian for example state that a credit score will not be affected by a single hard search. But as already been said, the credit score is meaningless anyway.

You say you have had Virgin cards before. One possibility could be that Virgin were unhappy at the way these accounts were conducted and don't want you as a customer again. Do you still have any open accounts with Virgin?

[Deleted User]

Do you currently have cards with VM still?

If not when was your last card with them?

gionnetto

wp408 wrote: »

Once the application was complete there was no instant decision. The application was sent to the underwriters for a decision which is pretty odd considering all the I've had cards with Virgin Money before. Check back this morning and suddenly I've been refused.

I applied for a VM 0% on purchases back in June. I too was pre-approved (Experian). My application went to the underwriters for a decision. I had to wait one month, but was given a card with a 1800 limit. I never had a card with them before, and I am relatively new to credit (2 years of credit history when I applied). I didn't use the BT offer because I only have another card (Vanquis), with a low limit (500) which I've never used above 100+.

I believe you can ask them to explain their reasons for refusing you.