First time I've been declined a credit card. Moved to new address less than a month ago...

alvaronistal

Hi there!

We moved to our new house less than a month ago and we were planning to get a balance transfer card, but Virgin Money has declined our application. We've got excellent scores on every credit agency, and we have never been declined credit before.

I discovered that when I tried the M&S eligibility check website it would give me a card with my old address, but not with my new one (even though I put down my old address where I lived for over 4 years), so it means that it has to do with the time at the current address.

Should I apply for another card putting down my previous address and then changing the address shortly after? I have my Royal Mail redirection service in place, so that shouldn't be a problem.

What do you think?

[Deleted User]

Don't use fake address, especially now you've used your real one. 

Lenders don't use your excellent credit scores, but assess you on risk.  The current lending climate, your recent move and existing debt will all be counting against you.  Check your credit files for any other negatives.  

You might want to try one more application elsewhere.

2021BJ

alvaronistal said:

What do you think?

I think that's fraud.

alvaronistal

Deleted_User said:

Don't use fake address, especially now you've used your real one. 

Lenders don't use your excellent credit scores, but assess you on risk.  The current lending climate, your recent move and existing debt will all be counting against you.  Check your credit files for any other negatives.  

You might want to try one more application elsewhere.

Fair. I've got no negatives, and the existing debt is very trivial compared to my credit allowance. But also, I haven't received a credit report with the new address yet...

I might have to wait until next month to make an application elsewhere. M&S Bank was one of my possibilities but if they're not offering it on the basis of having moved in so recently, or the credit agencies not having the address on file yet, then I might hold off.

2021BJ said:

alvaronistal said:

What do you think?

I think that's fraud.

Fair point.

cymruchris

You’ve only been there a month - have you got yourself on the electoral roll yet? Have you moved all your old accounts to the new address? It takes a while for everything to catch up - you’d probably be best waiting until you’ve been there at least three months before making another application. 

pbartlett

yes be careful - you don't want to get a marker for application fraud by using an old address

[Deleted User]

Just wait, you don't want to be marked for fraud 

femalemonarchfemalecanine

the only time I got turned down for a credit card was just after I moved house - you need to get on the electoral roll, then if there are no other issues you should be back as you were

maxximus75

They have probably turned you down as they can't see you live at your new address as I doubt you are showing on any electoral information.

If you havn't registered to vote at your new address then I suggest that you do so - this will take seferal months to filter to the credit reference agencies.

As you start to update your existing accounts with your new address (bank, credit cards etc), these will start to show on your reports, too.  Always be consistent with address histories, legnth of time at address etc as this alone, can cause declines along with other problems.

Also, note that credit reporting seems to be several months behind (some lenders even more) - so, it's just a matter of a waiting game.

KoshB5

When a lender does a search the addresses you provide get verified against your credit history entries and they are told how an address match has occurred e.g. account / electoral roll showing as current address, previous address, not found...... 

If you provide an address that can't be verified against you then they may view that as a fraudulent application. You should wait till your accounts / electoral roll start showing your new address. 

Malkytheheed

It likely just your timing, I applied for a new AMEX card just weeks after a move and got a straight decline (my credit history is completely clean and very favourable to most lenders.). I waited 3 months, tried again and got instantly accepted with a healthly limit.