Will my credit history affect my hubbys chances

faraway101

Hi

I have just returned back from maternity leave. I applied for a Tesco credit card and was declined on affordability. My credit rating is 990 and I have never missed a payment etc.

My hubby and i have a shared mortgage so are linked this way.

His salary is excellent and credit is good will my refusal affect his chances when applying for a credit card

Thanks

lisyloo

The refusal is not shown on your credit record.
The application will be but there will be nothing to indicate the decision.
So in short - no, he will not be affected.

What you should not do is apply for lots of cards, because lots of searches will look bad (it may be interpreted as refusal).

If you are finding it hard to get cards at the moment, then either stick with what you have or get your hubby to get you a card on his account (then buy lots of shoes :rotfl:only joking)

YorkshireBoy

Just to add...

Some providers, eg M&S, place more importance on household income so are particularly suitable for SAHM's.

Also, whilst your 'financial associate' will have been searched when you applied, the (financial associate) search on his record will not be seen by other lenders when they search his file because it's classed as an unrecorded enquiry.

UK007BullDog

It Tescos card fronted by NatWest? If yes then NatWest is very big on affordability.

Are you trying to do a Balance transfer?

Do you already have credit cards? If yes you might have to settle them first before applying for new credit.

mstar

out of intrest... i am in similar situation if i settle my credit card balance in full how long until it shows on a credit score? should i wait a day/week/month????? until i apply for another one?

lisyloo

Balances are updated monthly but you won't know which day, so it would be anything up to one month.

Also despite there being no debit balance, you will still have avialble credit and this may work against you.
You need to close the card for this and this should take up to 2 months to show because the comapny have to do internal admin as well.

YorkshireBoy

mstar wrote: »

out of intrest... i am in similar situation if i settle my credit card balance in full how long until it shows on a credit score? should i wait a day/week/month????? until i apply for another one?

In my recent experience (with HBOS and M&S) the zero balance will be reported on the next monthly update, with with the settled status being reported on the one after.

Worst case scenario therefore 2 months.

mstar

1 month jeez thats a long time so i to wait for a credit card i got to wait :-(