Can't get any offers with soft checks

HillStreetBlues

Beware of the checkers, I have read on here 100% chance of acceptance and the person was refused, and 0% chance of acceptance and got the card.

hassn48

https://forums.moneysavingexpert.com/discussion/comment/82153117#Comment_82153117

Dunno if I follow you, how does it help me if I just apply to my bank (hoping for the best), get rejected and thus make it even harder to get accepted for another card somewhere else, one which I might have a higher chance with in the first place such as credit builders? This isn't supposed to be a hail Mary, I really do need this card so I want to follow a safe way to apply for one.

hassn48

https://forums.moneysavingexpert.com/discussion/comment/82153133#Comment_82153133

Is there a more reliable or safer method I can use?

flaneurs_lobster

Are you old enough to put a pension into payment?

That would be a regular income.

I haven't had employment income since I retired 15 years ago but since I can quote my income from pensions the CC companies are happy to give me a credit ceiling well over my annual income.

hassn48

https://forums.moneysavingexpert.com/discussion/comment/82153218#Comment_82153218

Not old enough for pension

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/82153194#Comment_82153194

There is no 'safe' way. Sometimes people get '100% acceptance' on eligibility checkers but then get declined at full application and vice versa.

And it's not a 'hail mary' approach, you are making out like one hard credit check is all you are going to get.

As I said earlier I don't think any card provider is going to entertain anyone with zero regular income - irresponsible lending comes into play. However, the only way to find out is to actually make an application, whether that's a credit builder card or your own bank, or you just don't bother - that's up to you.

born_again

https://forums.moneysavingexpert.com/discussion/comment/82152738#Comment_82152738

Afforability. Regulator would have a field day if a company gave a cc to someone with zero income.

CliveOfIndia

https://forums.moneysavingexpert.com/discussion/comment/82153194#Comment_82153194

The main issue is that, with no provable regular income, no mainstream lender is going to offer you credit. As someone else mentioned, affordability complaints have stung lots of lenders in recent years, so they tend to be very wary of opening themselves up to further complaints.

People who don't have a job can often get credit, since any form of regular income can be factored in - pension, benefits, whatever. But with no regular income, I suspect you're going to find it very tricky.

The suggestion about approaching your own bank does have merits. In the absence of anything else, they can at least see how you've conducted your finances with them in recent years. There's no guarantee, of course, but it's often worth a shot. They may or may not perform a hard search on your credit file, but one search in isolation will have a negligible effect in the grand scheme of things. It's when you have several searches in a short space of time that it starts to become an issue.

hassn48

How many searches in a week (or a month, or whatever) could I get away with before there's an adverse effect? Also does it make a difference to the credit file if the result is acceptance or rejection?

And I still dont get how people who are living on investments but not yet drawing a pension get credit cards? At the very least, I shouldn't be in a worse position than someone on benefits because if I ran out of savings I would then become eligible for them?

hassn48

If I change my investments so that they pay out dividends instead of re-investing them, and maybe switch some of then for income generation instead of growth, would this improve eleligibility?