Credit card companies confuse me!

Frontera2

Hi..

I have a less than perfect credit history, 18 months ago I ran into some problems with my Barclaycard and have had a few hiccups with my Capial One card (Note: If you get into problems, talk to them otherwise they will ring you seven days a week at home and at work, they simply won't leave you alone)..

Anyway, for the last 18 months I have had no problems with Barclaycard, they "suspended" my account and I have been repaying the balance at £65 a month and luckily my credit file does not show either an arrangement to pay or a default. In addition in the last 3 months or so I have managed to pay CO each month and all of my other credit commitments are ok..

3 months ago my other half and I applied for, and were accepted, a mortgage with HSBC, and we moved into our new home at the end of June..At the time, to help me along I applied for a couple of new CC's with the 0% BT rate so I could have some hope of clearing my CO card in the near future..All of them declined me..

However, some 6 weeks or so on, I again applied for a Virgin Card (the second application in 2 months)...Received a 'phone call from them this afternoon and after answering a few questions was told they have approved my application and have a 5k limit!

Now my question is this, what is it that has suddenly made them change their minds? It is the fact that my status has now changed to a homeowner? If so, why did they decline my application in the first place. In addition upon speaking to Barclaycard this evening, they are now saying they are happy to reopen my account, yet again when I asked a month ago they said no...

Same thing happened with HSBC..After being accepted for the mortgage and it going through, I applied to consolidate my loan and overdraft...Computer said "No"..Yet when asking for the same thing 4 weeks later they said yes and wanted to offer me even more than I had asked for, even asking if I wanted a CC as well!..

To say I'm confused would be an understatement!

John

Reaper

If you applied as soon as you moved house then almost certainly you were not on the electoral role at your new address. That makes it very hard to get credit. I'm guessing that you are now and that made the difference. Being a homeowner helps too, a fact which had probably not had time to be registered on your history when you first applied.

However I still think you are lucky. Making multiple applications in a short space of time will affect your credit rating, and to do so by applying again to companies that had previously rejected you seems foolhardy. Nevertheless you seem to have got away with it.