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Hard checks when applying for credit card

Chris_N35
Posts: 6 Forumite

in Credit cards
Firstly i have really good credit score and have never been delined for credit in my life.
I have also never had a credit card and today i decided to apply for a virgin atlantic credit card to use to earn points for flights as i use virgin atlantic all the time.
Anyways i went onto their website and chedked to see if i would be acepted (i always do this ) and sure enough i got a pre approved and guranteed i would be accepted if i applied on the same day. This is what i fully expected to see,
So i applied and to my shock i was declined??? this threw me as like i said i have really good score on all checks (experian, clear score etc) and even more so as they had said i would not be declined. So i thought i must have done something wrong on the form and re-aplied, same thing! .....i ended up doing it 4 times before eventually i got another answer saying they will check and get back to me in 5 days.
To be honest im not even botehred if i get the card now as it was just an idea, however i am now more concerned about "hard checks" affecting my credit score.
My question is, will this be classed as 4 hard seaches? or will it be only 1 with it being the same lender ?
If it is 4 will this massively affect my credit score now and stop me getting any credit in the future??
I have also never had a credit card and today i decided to apply for a virgin atlantic credit card to use to earn points for flights as i use virgin atlantic all the time.
Anyways i went onto their website and chedked to see if i would be acepted (i always do this ) and sure enough i got a pre approved and guranteed i would be accepted if i applied on the same day. This is what i fully expected to see,
So i applied and to my shock i was declined??? this threw me as like i said i have really good score on all checks (experian, clear score etc) and even more so as they had said i would not be declined. So i thought i must have done something wrong on the form and re-aplied, same thing! .....i ended up doing it 4 times before eventually i got another answer saying they will check and get back to me in 5 days.
To be honest im not even botehred if i get the card now as it was just an idea, however i am now more concerned about "hard checks" affecting my credit score.
My question is, will this be classed as 4 hard seaches? or will it be only 1 with it being the same lender ?
If it is 4 will this massively affect my credit score now and stop me getting any credit in the future??
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Comments
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Credit scores are meaningless. Your credit history is what counts. I suspect all searches will appear on your history now so suggest you wait some time before applying for anything else. And while you wait check that you are registered to vote, don't have any CCJs or massive overdrafts (even if not used).
Do you have credit with anyone? Even a mobile phone contract might help prove your credit worthiness. (but go for sim only as it's cheaper....) You say you've never been declined for credit so perhaps you have a loan/mortgage/HP for a car? If this makes you look like you are at the upper limit of your credit ability then you will get declined.
So tidy things up and then apply for one of the credit builder cards and you can work your way up to something more helpful at some point.
(wondering how you have paid for flights if you don't have a card.....)
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Chris_N35 said:If it is 4 will this massively affect my credit score now and stop me getting any credit in the future??
Also, pay more attention to your credit history than to some imaginable credit score.0 -
Scores are a marketing ploy from certain companies, no one lender sees the ones you buy (hence Experian was able to offer an "instant boost" for a price a couple of years ago). Lenders apply their own methodology to your credit history.
Only someone with knowledge of Virgin Money's systems will know if they've done one or four checks based on four applications in quick succession however typically speaking another lender will typically count multiple applications from the same other lender in a short period of time as if it was one check as normally it'd be additional checks on one application being done rather than someone thinking they may have mistyped their name 4 times.0 -
Brie said:Credit scores are meaningless. Your credit history is what counts. I suspect all searches will appear on your history now so suggest you wait some time before applying for anything else. And while you wait check that you are registered to vote, don't have any CCJs or massive overdrafts (even if not used).
Do you have credit with anyone? Even a mobile phone contract might help prove your credit worthiness. (but go for sim only as it's cheaper....) You say you've never been declined for credit so perhaps you have a loan/mortgage/HP for a car? If this makes you look like you are at the upper limit of your credit ability then you will get declined.
So tidy things up and then apply for one of the credit builder cards and you can work your way up to something more helpful at some point.
(wondering how you have paid for flights if you don't have a card.....)
I always pay for my holidays in cash, just use debit card and pay them off as i have the funds in the bank
So this has baffled me
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Chris_N35 said:Brie said:Credit scores are meaningless. Your credit history is what counts. I suspect all searches will appear on your history now so suggest you wait some time before applying for anything else. And while you wait check that you are registered to vote, don't have any CCJs or massive overdrafts (even if not used).
Do you have credit with anyone? Even a mobile phone contract might help prove your credit worthiness. (but go for sim only as it's cheaper....) You say you've never been declined for credit so perhaps you have a loan/mortgage/HP for a car? If this makes you look like you are at the upper limit of your credit ability then you will get declined.
So tidy things up and then apply for one of the credit builder cards and you can work your way up to something more helpful at some point.
(wondering how you have paid for flights if you don't have a card.....)
I always pay for my holidays in cash, just use debit card and pay them off as i have the funds in the bank
So this has baffled me
Also check your files to see if there is anything erroneous on them.0 -
im thinking of getting in touch with them and asking them to remove any searches.
Their own website told me i was 100% guranteed to be sucesful after doing the soft check but then they refuse with the same information put in.0 -
I would check your files to see if anything erroneous on them.
If you have done without credit cards until now then maybe it would be best to continue that way - I for one wish I had not started on my credit card journey0 -
It may seem odd for someone with quite a financial history, but generally people have to start with a credit builder card.
Prime cards with perks are often fussy.0 -
Chris_N35 said:Brie said:Credit scores are meaningless. Your credit history is what counts. I suspect all searches will appear on your history now so suggest you wait some time before applying for anything else. And while you wait check that you are registered to vote, don't have any CCJs or massive overdrafts (even if not used).
Do you have credit with anyone? Even a mobile phone contract might help prove your credit worthiness. (but go for sim only as it's cheaper....) You say you've never been declined for credit so perhaps you have a loan/mortgage/HP for a car? If this makes you look like you are at the upper limit of your credit ability then you will get declined.
So tidy things up and then apply for one of the credit builder cards and you can work your way up to something more helpful at some point.
(wondering how you have paid for flights if you don't have a card.....)
I always pay for my holidays in cash, just use debit card and pay them off as i have the funds in the bank
So this has baffled me
If not then that mat affect their decision. As they have very limited information on you.Life in the slow lane0
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