Credit Crunch Credit Card Declines?

clio

Volcane did you may all them applications listed below in March ??

galileo

Also what limits were you given in respect of each of those cards Volcane?

Volcane

Hi,

Yes they were all done in March but not all on the same day. Every single one of them was an online application.

I applied in the following order

Tesco Club Card Credit Card & Amex Nectar on same day : Declined

Post Office & Virgin on another day : Virgin confirmed by email and text message I was accepted. Post Office asked for more info (copies of payslip, bank statements, passport and utility bill). Virgin gave me £2000 and Post Office gave me £2200

Egg Money : Accepted by instant decision and £1100 credit limit

Alliance & Leicester : Advised I was accepted by a letter after approx 1 week. £4000 credit limit - the fact I've had my old current account (now upgraded) a savings account and my ISA with them may have helped.

Goldfish - The first I heard was my pin number after a week and a half. £3000 credit limit.

I understand these are low limits for the MBNA backed cards (unsure of rest but I understand Egg Money cards don't go high) but all are fine for me. To be honest the A&L and Goldfish cards I don't think I'll use... it was the quidco incentive!

Moggles_2

Originally Posted by EmptyCouch
Can I still apply for another card or is it best to wait a few months?

I suspect most of the hitches stemmed from your electoral status and the inconsistent addresses on your credit files. This is very common, especially where flats are concerned.

If your answers on future credit applications are consistent with what is now recorded on your credit files and this reflects line for line what's on the electoral register, there should be no need to post any documents, as your details can all be verified electronically

Very best
M

EmptyCouch

Thanks for the help. I've cleared up Experian now, so all details are up to date. Equifax said I have to pay to see whats on my file as I'd previously used the 30 day free trial. So I couldn't update that, but the rep said that they update everything automatically every month, so electoral role info should be updated as well.

I've decreased my limits on both cards and ended up switching £1500 to my virgin card as its 0% until November. So I have less available credit to me now.

I guess I'll have wait at least a month to ensure all details are updated. Ignorance about how this whole credit lark works has definately been my downfall!!!

Volcane

Volcane wrote: »

In March 2008 I went into a "what the hell" mode and applied for a few cards that offered bonuses as wasn't bothered about a decline as not intending to apply for any other credit in next 12 months (at least) with the following results :

Tesco Club Card Credit Card : Declined
Post Office : Accepted
Virgin : Accepted
Amex Nectar : Declined
Goldfish : Accepted
Egg Money : Accepted
Alliance & Leicester : Accepted

I also upgraded my current account to an A&L Premier Direct and was accepted.

I'm now seeing (out of interest as much as anything) how far I can push this as a few (!) credit applications/declines won't really affect me for the next 2 years and have now applied for :

Nationwide Gold Card : Referred
Amex Platinum Cash Back : Referred (definately don't hold out much hope)
Barclaycard Platinum Cashback : Instant Accepted
Ulster Gold Card : Got to the last page and was told there's a problem with the server and to try again at a later date!!!!

If anybody's got any suggestions for the next phase of my "experiment" please shout up!

YorkshireBoy

Volcane wrote: »

If anybody's got any suggestions for the next phase of my "experiment" please shout up!

If you're going to trash your credit rating, at least get paid for it...use Quidco or one of the other cashback sites.

Volcane

YorkshireBoy wrote: »

If you're going to trash your credit rating, at least get paid for it...use Quidco or one of the other cashback sites.

I am indeed already doing that.

YorkshireBoy

Volcane wrote: »

I am indeed already doing that.

Co-op & HSBC then?

EmptyCouch

I've heard that Barclaycard has now bought Egg. Does that mean I shouldn't apply to Egg now as I was turned down in Feb? Or is he change over still in progress?

I think I'm running out 0% cards!