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Credit Crunch Credit Card Declines?

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  • Volcane
    Volcane Posts: 325 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Volcane wrote: »
    Update :

    Barclaycard now arrived with a £14990 credit limit (why it's not a round £15k is baffling me though)

    Nationwide : Refused and you can't appeal! "...and our decision is final" in the letter!

    Amex : Still no news

    Ulster : Have not yet re-tried.

    Update :

    Amex declined!

    Not surprised, am gonna stop now as I've got all the deals I want/need.
    Best Regards,

    V
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    After eight years in the wilderness and having to put up with high APR card I applied for three cards over the weekend in order to get one with a lower APR. Not carrying any debt so don't need a balance transfer deal.

    PayPal - Immediate acceptance 16.9% - £2500 limit
    Post Office - Had to wait for decision 15.9% - £3800 limit
    Egg - Waiting Result
    Applied for a Nationwide Flex Account with debit card - Accepted.

    The credit reference file has taken a battering as all these were applied for within two days. I will close the PayPal straight away and see what Egg offers me. I will definitely keep the Post Office for holidays and take advantage of the 0% commission.

    Made £20.50 on the Post Office one through Quidco.
  • clio
    clio Posts: 3,345 Forumite
    Jimbo
    How long did you wait for the nationwide flex account/post office card answers. Why not wait to se what Egg says before you close PayPal down.
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Applied for Flex Account on Sunday. Letter arrived yesterday. Applied to Post office on Saturday got reply today.

    I don't need all the cards so PayPal will definitely go. If Egg doesn't beat the Post Office not sure what I'll do. Maybe keep it for the cash back (applied for Egg money).

    All I require is one card with the lowest APR possible. I normally pay off the balance each month, but there are occasions when it may roll over for a month or so. To be honest I don't even need the £3800 limit so will get it reduced when the card comes through.
  • clio
    clio Posts: 3,345 Forumite
    Yeah Egg money rate is good if you get the lower of the 2 rates. I was hoping for the 7.9 % but got 16.9%.

    Is that nationwide flex account any good, what do you get with it??
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    The main benefits are:-

    Up to 37 times more credit interest
    Pay 40% less interest when you're overdrawn
    Free card use abroad

    I wanted to change my account because my current one still won't give me a Maestro card. I've paid my dues, and they are still punishing me.

    Also get loads more interest on credit balance which suits me as the accounts are always in credit.
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Bloody hell just had a reply from Egg

    7.9% with £3700 limit!

    I couldn't even get a bank account last year.

    PayPal will definitely go. It goes to show it's worth shopping around. I was content with the 16.9% offered by PayPal (anything was better than the 34.9% with Cap 1)
  • clio
    clio Posts: 3,345 Forumite
    well done jimbo you go a better rate than i did :)
  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    This leaves me in a dilemma now. I want the Post Office card for my hols, but will keep the Egg Money card for everyday use.

    As I only go abroad once a year the Post Office card will not get used much. How long do CC companies keep accounts open if there isn't much activity? The obvious solution might be to stick something on it every other month or so.
  • spinningsheep
    spinningsheep Posts: 1,051 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I just applied to Monument online for one of their cards and it declined me on credit score! They use Callcredit so I immediately signed up for my report with them and can see 2 things negative:

    1 is 3 defaults that are SATISFIED from 2007.

    2 is a late payment on my credit card 3 months ago.

    Now for a card that is designed for people with credit histories that require some improvement, this seems a big harsh. Seems their new owners are getting picky!! I called and was basically told "tough titty" and that there is no appeals process.Dont bother with them.

    CC limits £26000


    Long term CC debt £0

    Total low rate loan debt £3000

    Almost debt free feeling, priceless.

    Ex money nightmare, learnt from my mistakes and never going back there again, in control of my finances for the first time in my adult life and it feels amazing. 
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