advice on applications (AmEx, Capital One)

warnski

Hi, just wondering if anyone can offer me some advice based on their own experiences.

I was recently turned down for an AmEx card due to low income. I have since realised that I was considerably underestimating my income, I told them it was around 18,000 (I now know 20 is the minimum), when it fact its nearer 25.

I'm very keen to get a cashback credit card, as I've been using a credit card on a regular basis (but paying it off in full every month) for years.

However, I'm reluctant to reapply to AmEx having been turned down once already. Might they not believe me about my income? Or just turn me down due to the fact I've been rejected before? I've heard that companies are tightening up due to the credit crunch etc.

Similarly, will Capital One and other cashback providers reject me for the same reasons? I don't want to mess up my future chances by repeatedly applying and being turned down.

So... to apply or not to apply? And who with??

thanks in advance

YorkshireBoy

Appeal the Amex and/or Capital One rejections, with a 'good' reason for your income mistake.

Think long and hard before applying elsewhere so soon with exactly the same details (ie employer, position, etc) but quoting a £7K higher salary. This is because lenders cross check your application data with that held by fraud prevention agencies, and Amex/Capital One will have already told them you earn £18K/annum.

Worst case scenario is that the next lender will put an "application fraud: material falsehood, facility denied" CIFAS marker on your credit file.

warnski

ok, so I might think up a good reason for my error and ring up AmEx to explain

otherwise I guess I should forget about getting a cashback card for a while

Kavanne

YorkshireBoy wrote: »

Worst case scenario is that the next lender will put an "application fraud: material falsehood, facility denied" CIFAS marker on your credit file.

How bad is this!? I have a 10K difference in incomes on some of my applications as some CC companies will accept my income from a trust as 'income' and some won't... I had no idea I might get a fraud marker for it! How long does it take to come off?

Garetha

warnski wrote: »

ok, so I might think up a good reason for my error and ring up AmEx to explain

otherwise I guess I should forget about getting a cashback card for a while

"I omitted my income from ..."

• investments
• other half
• part time job

just a few ideas ... Good luck!