Application denied!

DominicY

Not a huge problem but I'm interested to know why I was turned down for an MBNA 25 month 0% balance transfer card yesterday.
A soft check suggested my chances of getting it were 95%
My fiance and I bring in a good wage each but we're renovating a house so some interest-free borrowing is a bonus.
I have 2 cards already - a Santander with a limit of £7K but I clear it monthly. The other is a Virgin Money card with 11K limit and I have £3.5 K on it at 0%. More than minimum paid off month and will be clear before offer end.
We have a mortgage on our house which isn't horrific.
We have low outgoings.
We have no other debts.
Any ideas?

cymruchris

Nobody will know the answer. Sometimes even 100% chance or pre-approved still get declined at the final stage. As long as all the data on your credit reports is accurate - then there's nothing much you can do. It might have been something small that was enough to tip the balance - maybe something on your payment history in terms of minimum payments, or too much credit utilisation - like I said it's  all pure guesswork, and they won't tell you the reason. 

If you haven't - re-check all your reports for accuracy - and then try again (or with another provider) in a few months time. 

[Deleted User]

Unfortunately you fell into the 5% 

You could try a second application or your fiancé could try one, no harm in another application