Any chance of a credit card at all?

bwgames

So I've kind of mucked my credit rating up.

Applied for several CC cards in June (Natwest (my bank), Egg, Barclaycard Initial, and Capital One. All refused me, except C1, but they wanted a £140 deposit, so no thanks. Next month applied for Aquacard, nope.

Few months later, (last month), I'm off to Uni, so I go in to Natwest (already got an account with them), they approve my overdraft for the next day of £1250 interest free for 4 years, and they get me to fill in another Natwest CC card (£500 credit limit as standard on student CCs) application. Got a letter back "we see you applied recently, and we have a policy of limiting the number of cards we issue to each customer, so we cannot proceed with your latest application", even though I didn't get a card from them, I don't have a card at all....

I just don't get how they can approve me next day for a £1250 overdraft, but refuse a £500 CC :S

Any ideas for how to improve things?
I'm tempted to ring Natwest and explain things, would that help?

DJ1UK

Yes I would suggest phoning or going into Natwest and exlain things. It shouldn't be too hard to get a student credit card from them.

DJ

jonesMUFCforever

Do you really need a credit card now? After all you have just been given a free o/d of £1250!
The fact that you applied to all companies and have been turned down smacks of desperation. Have you any debts not highlighted in your posting or defaults or other loans/finance outstanding?
When you first applied to Nat West did you have a job or means of repaying any spending on the card?
Eric

Fatboy_NSS

bwgames wrote:

I just don't get how they can approve me next day for a £1250 overdraft, but refuse a £500 CC :S

They've approved you for £1250, not £1750. Show them that you can use the overdraft wisely and not just spend it all on beer at the SU in your first term and you should easily be able to get the credit card. Remember credit has to be earned, it's not just there automatically.

bwgames

I don't need a credit card no, but I want one, not for the credit, but for the fact Visa/Mastercard is more widely accepted than solo, and for the Consumer Credit Act protection against insolvency etc, as I do a lot of internet buying.
I'd settle for a visa debit, but getting one that doesn't require £1000/month seems to be hard. I'd use it quite a bit, by transferring money from my natwest account, but wouldn't directly pay loan/income etc into it.
I don't have any other debts/loans outstanding at all.

When I first applied, I had an income yes just from benefits, but now I've got more income, what with loan, job, benefits etc.

Looks like I'll ring NW tommorrow

jonesMUFCforever

bwgames wrote:

I don't need a credit card no, but I want one, not for the credit, but for the fact Visa/Mastercard is more widely accepted than solo, and for the Consumer Credit Act protection against insolvency etc, as I do a lot of internet buying.
I'd settle for a visa debit, but getting one that doesn't require £1000/month seems to be hard. I'd use it quite a bit, by transferring money from my natwest account, but wouldn't directly pay loan/income etc into it.
I don't have any other debts/loans outstanding at all.

When I first applied, I had an income yes just from benefits, but now I've got more income, what with loan, job, benefits etc.

Looks like I'll ring NW tommorrow

To correctly answer my question - you did not have an income to pay back a credit bill when you first applied to Nat West.
So now you have a Student loan, a job, and BENEFITS?
I dread to think what the etc. is!
Eric

InsuranceLiability

bwgames wrote:

... as I do a lot of internet buying.

If you are a student perhaps you should cut down on this

Pay the £140 to capital one (you get it back after 6 months) if you are so desperate for a card otherwise do without

bwgames

Thanks for the info

I've just been accepted for a mobile phone contract without any deposit or anything, so not sure what NatWest are playing at, but I'll give them a ring and see

I didn't know you got the C1 deposit back after 6 months, I figured they held on to it for ages, but then I tend to be quite cynical. If I'd known that, I'd've paid the deposit, they cancelled my app now because I didn't pay... No point applying for any more for a while now anyway, unless NW change their minds on appeal.