M&S Credit card rejected with excellent credit

Ckayy

I’ve just been rejected for an M&S credit card even though I have an excellent credit score low debts and pass all pointers so must be M&S algorithm think I’m not worthy..?

I pass all of the “How to get a good credit score” etc and my ClearScore account shows I have no issues.

completely perplexed at being refused ?

would like to know why but no idea how to chase?

TadleyBaggie

you have discovered that the mythical credit score is meaningless.

eschaton

Forget about the bingo score and try another provider.

HSBC/M&S are one of the more fussy providers. Sometimes they say yes and other times they are not so keen.

flaneurs_lobster

You can't chase them for a reason for the refusal - they won't tell you.

Would this be your first credit card? Maybe start with an application to your current bank or one of the credit cards recommended as a Starter card. Both would allow you to build some more credit history.

Do you have a mortgage? Utility/mobile accounts in your name? All will help.

Worried_fool

https://forums.moneysavingexpert.com/discussion/6676668/m-s-credit-card-rejected-with-excellent-credit

Probably there is no reason. Their algorithm sees your profile as being different from that of their most profitable customers.

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82073736#Comment_82073736

They can't be that fussy, they have me as a customer! 😆

Ckayy

https://forums.moneysavingexpert.com/discussion/comment/82073771#Comment_82073771

https://forums.moneysavingexpert.com/discussion/comment/82073809#Comment_82073809

I am thinking maybe they know they won’t make any profit out of me as I pay on time and always move or pay off before interest kicks in..

Ckayy

Yes im in my 50s so have all these financial products and no problems with credit or finance on last 30 years.
I think they know that they won’t make any profit from me as I move providers of pay off the balance before interest kicks in

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/82073868#Comment_82073868

If that were the case my recent application would have been rejected.....it wasn't.

marcia_

HSBC are terribly fussy. I was rejected by them even though I've banked with them since I was a teenager and manage credit well nothing on credit file untoward.

Emmia

https://forums.moneysavingexpert.com/discussion/comment/82073868#Comment_82073868

Are you essentially shuffling debt from one 0% to another, without actually paying it off? Only making minimum payments??

If this is the case, perhaps the carousel of cheap credit has stopped.