NatWest Balance Transfer Card Application Rejected

2catsandcounting

This morning I applied for the NatWest Balance Transfer Card, the eligiblity checked said I was approved with a £7200 balance, and then proceeded to full application which was rejected with no explanation. 

I have around £4000 on existing credit cards, which I was planning on transferring to this one, but an available balance across them all of over £12k, so not exactly close to the limit. I’ve had a mortgage for around 6 years, never missed a payment in all that time and earn a decent wage (£2k a month after deductibles) so I’m a little perplexed why I was rejected, after being told it was approved, with no explanation

Has anyone had any similar experiences? 

MorningcoffeeIV

2catsandcounting said:

Has anyone had any similar experiences? 

Yes, they have, but that's not important right now. 

Try one more application with another lender. If declined again, leave it a couple of months or so before trying again.

jefaz07

Funnily enough it happened to me. However I had input 1 piece of data incorrectly. When I changed it, it all went through. 

cymruchris

jefaz07 said:

Funnily enough it happened to me. However I had input 1 piece of data incorrectly. When I changed it, it all went through. 

To the OP - Do remember that if you apply again, double checking your data will likely result in a second hard search. Not a major issue in itself - but if applying for any other credit potentially might result in a further decline elsewhere...

Nasqueron

I was "pre-approved" for a Virgin BT card, it went for manual review and after a week they rejected it, wasn't needed, just would have been useful. Left it for 4 months and applied for a Tesco card via TopCashBack after doing a soft check on Tesco site and getting approved and got bigger limit that I had asked for and no issues. I think 3 months is a good time to wait after a rejection as you can pay down debts anyway and make yourself look more attractive to lenders.

Volcane

This same thing happened to me with RBS (part of NatWest group ) but a few months later was then accepted.

martinbainbridge1975

does not shock me with Natwest, I bank with them and they wont give me a card but will approve a 4 grand overdraft at 39.9 apr

as above go elsewhere tesco are decent as are halifax from my experiences 

jefaz07

martinbainbridge1975 said:

does not shock me with Natwest, I bank with them and they wont give me a card but will approve a 4 grand overdraft at 39.9 apr

as above go elsewhere tesco are decent as are halifax from my experiences 

I have 2 credit cards and an overdraft but not allowed pay in 3!!