applied for lloyds credit card refused

2shoes

I have 3 cards John Lewis credit card (10K limit), Tesco club-card (£9K limit) credit card and an American Express Everyday (4k limit), total credit limit of circa £23K. Im retired on about £35k per annum. I hardly use the John Lewis which has £10 limit. I've had the Amex everyday for a year soon and made about £150 cashback. my plan was to get the cashback next month and cancel the Amex and hopefully apply for another in 2 years time. This cunning master plan involved me applying for a Lloyd's Ultra card with 1% cashback. They refused me online saying something like i have too much credit now or similar.

So my latest thoughts are end the Amex when i get the cash back. end the John Lewis so I will have only the Tesco Club-card Credit Card (£9k limit). I thought about asking Tesco to lower my credit limit to say £5k.

This I thought I will appear to a credit agency as a 1 credit card with a £5k limit.

I am unsure of the ways credit agencies advise credit card providers as the Lloyd's Ultra seems to meet my needs but i was refused so I would appreciate the forums advice please.

grannypep

If you close some of your existing credit cards, there is no guarantee you'll be accepted for a new credit card by the provider you closed the existing card with or a different provider. Closing a credit card has a lag effect in that it isn't always immediately reported to credit reference agencies. Also, lending criteria varies between providers and different providers also adjust their own lending criteria from time to time. It's a dilemma. If you bank via an app, many banks/some building societies provide access to your credit file by clicking through to see it and this may give you additional information. Some credit card providers allow customers to apply for an exchange of credit card. For instance, this could mean you have a standard credit card but would prefer their other one that has no overseas transaction fees. It depends what providers are offering at any given time. You are also generally entitled to appeal against a refusal to approve a credit card and have a human eye cast over the decision. You generally have to explain why you disagree with the decline decision and offer reasons why you believe the appeal should be granted. There may now be a "hard" credit check by Lloyds in your credit file. Applying for credit in more than one place in a short period of time can be harmful to your credit rating. I'd probably see what your credit rating is, click the button that says something like "what factors are affecting my credit score" or "how can I improve my credit score" and take it from there. I hope you get this sorted

peteuk

Lloyds may have done a search on your credit file, if you are a Lloyds customer they may have done an internal search. If they searched your credit file, it will be noted as such. As far as I am aware they do not record if the application was successful or not, but obviously if it was successful then a full credit history would be visible on your file.

Sign up for a free trail of your credit file, to see if there is anything else on there that may affect your application. Note that there is three main providers (checkmyfile will access all three) Experian, Equifax and TransUnion. The credit agencies do not advise the credit card providers, this is done internally by the provider.