Virgin Card Application

docksboy61

I applied for a Virgin balance transfer card the other day after having done their eligibility check and being told I would definitely be accepted for the card. However, I received a standard rejection email from them yesterday. Presumably this is connected to the news that they've suddenly frozen people's credit card accounts.
Having now been rejected for a card, are my chances of getting another card from a different company reduced, does anyone know?
It seems unfair, as I only completed the application after they'd said they'd accept me...

[Deleted User]

It's unconnected to existing cardholders having accounts closed.

It's just one search, so apply elsewhere. If declined, leave it a couple of months.

cymruchris

I applied for a virgin card a couple of weeks ago and was accepted. It’ll be down to the credit profiling they use that likely made them decide to decline. The soft search used for testing eligibility doesn’t show all the details on your file. These only become visible once you hit the apply button and a hard search is carried out. There might be something in the background that they didn’t like that wasn’t visible on the soft search. Do you have any missed payments in the past? Previous defaults? Have had a high card utilisation ratio for a long period? The reality is we don’t know why we get accepted or rejected - I was surprised to be accepted as it’s my first mainstream card since bankruptcy (although that’s no longer showing on my files). I wouldn’t worry too much though - unless you’re desperate - wait a few months and try a different card. 

Life__Goes__On

Could they have changed the acceptance criteria  in between  the two dates?

IrishSean

I was reading a bit about credit scores and credit availability; this was on an American site. The logic seems sound enough...

"Your payment history makes up 35 percent of your [credit] score, while your total debt owed amounts to 30 percent of your final [credit] score. Making up the final 15, ten and ten percent of your [credit] score are the length of your credit history, any new credit that you have taken on, and the type of credit you have used."

Not knowing how peer reviewed this is, does it seem logical enough? I know the whole area of getting credit is a dark art and that CC companies like it that way. I'm asking about the veracity of the above in the context of getting CC credit so if you're inclined to beat me with a spade for daring to mention the words 'credit+score'... please: resist the urge!😂

eskbanker

IrishSean said:

I was reading a bit about credit scores and credit availability; this was on an American site. The logic seems sound enough...

"Your payment history makes up 35 percent of your [credit] score, while your total debt owed amounts to 30 percent of your final [credit] score. Making up the final 15, ten and ten percent of your [credit] score are the length of your credit history, any new credit that you have taken on, and the type of credit you have used."

Not knowing how peer reviewed this is, does it seem logical enough? I know the whole area of getting credit is a dark art and that CC companies like it that way. I'm asking about the veracity of the above in the context of getting CC credit so if you're inclined to beat me with a spade for daring to mention the words 'credit+score'... please: resist the urge!😂

It seems perfectly logical in the context of the entirely different (and more transparent) American system but is unrelated to how it works here....

unclebatman

This exact same thing happened to me. 

I appealed and 48 hours later got given the card with a £10k limit 

ste_coxy

unclebatman said:

This exact same thing happened to me. 

I appealed and 48 hours later got given the card with a £10k limit 

How did you appeal? Did you provide supplementary evidence?