Unable to get a credit card. help please

penyekz

How would the card companies (from different family of companies) know how much my current credit limit is if all they get is my credit file which shows the number of searches and how do other companies get this information if I were to lower my credit limit? I now understand if scottish widows refuse to approve it due to the number of lloyds cards I hold.

Is the lloydstsb amex card good in terms of its cashback? i can't find any information on the amount of cashback. Is it better than 0.5% currently offered by other companies?

Joe_Bloggs

Most credit companies, but not all, pool their data on their customers with a credit reference agencies. The big two credit reference agencies are Experian and Equifax. Often when you apply for credit you are invited to mention other sources of credit and the limits/balances on credit cards. By applying for credit you invite the lender to look at your file. Perhaps you should take a look at your files for the statutory fee of £2 per agency to make sure that they have your details correct and have not made a mistake.
In any case you should ask why you were refused credit and appeal if necessary.

There must be a finite amount of credit limit that can be allocated to one person. Card companies regulary bump up limits because they know it will reduce the likely limits that a new lender would give at more advantageous terms. Get rid of unused credit limits as they restrict your opportunities. However you can sometimes exchange these limits between competing arms of the same parent bank and extend or improve a credit deal.
J_B.

Rajeev

your nationality should not be a problem as long you are resident here in UK. Just get your detailed Credit File from Credit Reference agencies to see if they are showing correct balance amounts for your credit cards. Also as mentioned before, close any CC which you are not using. Hope this helps . .