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Credit score problems

i have just called natwest, regarding my application for a current account, and they told me that it was declined because of my credit score.
i have a step account with them for almost 5 years now.
i had a credit card with them with them 3 years ago with a £350 limit, i was late on my payments, it got canceled after a while, and repaid the money straight away in 24/02/2006 to intrum justitia
i have no other debts, of any kind, no overdrafts.
why my credit score is bad now?

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