Credit and retirement

ghazghaz

i was made redundant in february and because i was 55 i had immediate access to my company pension
i always take out a new credit card every few years once the 24ish month interest free period ends.
i earned 40k, my pension is £27k. 
i have repaid my mortgage in full, excellent credit rating, never any default yet i have been refused credit. i dont understand why

[Deleted User]

Check your three credit files (not the scores or ratings). See what appears.

Remember that lending has tightened considerably, so it may nothing specific, but just that your risk level is too high in the current circumstances.

TadleyBaggie

Your income has reduced significantly, so this may be seen as an affordability issue.

Fighter1986

Try the moneysupermarket credit card eligibility checker.

My mother who's also enjoying a lovely retirement and pension (smaller than yours) has no issue being approved for 0% balance transfer offers and one of those lovely old Barclaycard Simplicity cards with 7.14% on purchases and 11.4% on cash 😳

I wouldn't have thought your employment status or income are the issue. As others have suggested you may want to check your credit files too in case any organisations have made an error in the data they've recorded about you. It happens but is usually remedied by writing to the firm concerned asking they amend the data. 

Depending on how much you owe the income could be an issue, if the balance you're shifting is more than about a third of your new income it might cause the lender to look more closely at your application. 

ghazghaz

Fighter1986 said:

Try the moneysupermarket credit card eligibility checker.

My mother who's also enjoying a lovely retirement and pension (smaller than yours) has no issue being approved for 0% balance transfer offers and one of those lovely old Barclaycard Simplicity cards with 7.14% on purchases and 11.4% on cash 😳

I wouldn't have thought your employment status or income are the issue. As others have suggested you may want to check your credit files too in case any organisations have made an error in the data they've recorded about you. It happens but is usually remedied by writing to the firm concerned asking they amend the data. 

Depending on how much you owe the income could be an issue, if the balance you're shifting is more than about a third of your new income it might cause the lender to look more closely at your application. 

thanks, i dont owe anything. i will check credit files

dr_adidas01

Fighter1986 said:

Try the moneysupermarket credit card eligibility checker.

My mother who's also enjoying a lovely retirement and pension (smaller than yours) has no issue being approved for 0% balance transfer offers and one of those lovely old Barclaycard Simplicity cards with 7.14% on purchases and 11.4% on cash 😳

I wouldn't have thought your employment status or income are the issue. As others have suggested you may want to check your credit files too in case any organisations have made an error in the data they've recorded about you. It happens but is usually remedied by writing to the firm concerned asking they amend the data. 

Depending on how much you owe the income could be an issue, if the balance you're shifting is more than about a third of your new income it might cause the lender to look more closely at your application. 

Your mother must have had a simplicity card already as they haven’t offered that card for new customers for quite a while. 

Fighter1986

dr_adidas01 said:

Fighter1986 said:

Try the moneysupermarket credit card eligibility checker.

My mother who's also enjoying a lovely retirement and pension (smaller than yours) has no issue being approved for 0% balance transfer offers and one of those lovely old Barclaycard Simplicity cards with 7.14% on purchases and 11.4% on cash 😳

I wouldn't have thought your employment status or income are the issue. As others have suggested you may want to check your credit files too in case any organisations have made an error in the data they've recorded about you. It happens but is usually remedied by writing to the firm concerned asking they amend the data. 

Depending on how much you owe the income could be an issue, if the balance you're shifting is more than about a third of your new income it might cause the lender to look more closely at your application. 

Your mother must have had a simplicity card already as they haven’t offered that card for new customers for quite a while. 

Yeah, she's been a customer of Barclaycard pretty much since decimalisation circa 1971 on and off, the simplicity was opened in 2013.

Since writing this TSB have opened her up a credit card with two years interest free with a £6,500 limit. 

OP: Good luck with your credit files. Have you used the Moneysupermarket credit card search tool to see if you're eligible for a card elsewhere?

There may be nothing wrong with your credit profile whatsoever, you might just not have been that particular lenders cup of tea - through no fault of your own whatsoever. 

ghazghaz

yes i did use the moneysupermarket tool

ghazghaz

Think I found out why. I am not on the electoral register for my address. I moved in february and completed a form but it has not yet been updated on the register, so the credit check givens a warning i am not registered

Fighter1986

Glad you got to the bottom of it.

Maybe chase this up with your local authority, make sure they push the data out to the credit reference agencies?