Pre approved HERE but then denied credit

13

Comments

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    ehdx wrote: »
    Is the score not based on payment history?

    No. It's based on the phase of the moon and the smell of the wind at high tide on Brighton Beach.

    They're based on nothing.
  • ehdx
    ehdx Posts: 37 Forumite
    First Anniversary
    !!! wrote: »
    No. It's based on the phase of the moon and the smell of the wind at high tide on Brighton Beach.

    They're based on nothing.


    Why are they there then?
  • spadoosh
    spadoosh Posts: 8,732 Forumite
    Name Dropper Photogenic First Anniversary First Post
    ehdx wrote: »
    Why are they there then?

    Have a read through this.

    https://www.moneysavingexpert.com/loans/credit-rating-credit-score

    Basically its a way for them to make money.
  • ehdx
    ehdx Posts: 37 Forumite
    First Anniversary
    spadoosh wrote: »
    Have a read through this.

    https://www.moneysavingexpert.com/loans/credit-rating-credit-score

    Basically its a way for them to make money.


    Thank you - that's so much more helpful than just a sarcastic comment! :)
  • stehouk
    stehouk Posts: 412 Forumite
    First Anniversary First Post
    edited 10 May 2018 at 5:56PM
    It may be that you have had dealings with them in the past or mbna when you had debt ? i applied for an mbna card and was asked to ring them to confirm a few things and it was then they informed me that i had dealings with them in the past via virgin money, something i didn't know about. they did give me the card though.

    I think i would be a bit annoyed if i had been pre-approved 100% for the card and then declined after applying, it hasn't happened to me but i haven't always got the length of deal on offer or i've been offered a lower credit limit.but not actually refused.
  • maxximus75
    maxximus75 Posts: 553 Forumite
    First Anniversary First Post Name Dropper
    It could just boil down to based on your credit profile you are just not the kind of customer they are interested in (at the moment). They are looking to make the most profit they can out of a customer. If they don't think they will then they can simply decline your application.

    It doesn't mean that another company doesn't want your business. There are lot's of others out there to choose.

    If you havn't made many applications for credit in the past then try another. I find that card providers that have their own eligibility checkers on their websites seem to be more reliable.

    As previously mentioned, make sure the details you submit match your credit file... such as name spellings, address matching etc

    Good luck with your quest!
  • Samsung_Note2
    Samsung_Note2 Posts: 774 Forumite
    ehdx wrote: »
    Thank you so much for posting this. You're the only person that has properly read my post!
    I only asked if people had been in a similar situation before.


    Did you wait before applying for another credit card? I've contacted Virgin so just waiting to see if I get a response.


    I've had other credit products since Cap1 declining...bizarre thing is they actually sent me a cheque for £25 as a formal apoligy for messing me about.

    Ive banked the cheque as i advised i would and also advised id carry the complaint onto Ombudsman as i feel they need to be open about why they decline,after all if you know the reason for decline you then have a chance to fix what ever the problem is...why do they need to with hold the information.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Samsung_Note2 wrote: »
    why do they need to with hold the information.

    To reduce fraud and to protect confidential lending criteria.
  • Candyapple
    Candyapple Posts: 3,384 Forumite
    First Post First Anniversary Combo Breaker Intrepid Forum Explorer
    Have you checked your info is correct across all 3 CRAs?

    The free versions to check your credit files are below:
    Experian: https://www.moneysavingexpert.com/creditclub
    Equifax: https://www.clearscore.com
    Call Credit: https://www.noddle.co.uk
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • Samsung_Note2
    Samsung_Note2 Posts: 774 Forumite
    Deleted_User wrote: »
    To reduce fraud and to protect confidential lending criteria.

    Yes i do appreciate that..however like in my case im pretty sure they eventualy refused the application as they as a CRA (all be it a free version) was reporting the wrong information,and they also use that same information to credit check you..lol (They were the ONLY company that fluffed the information..even the firm they get data from had it correct.

    So while i can pretty much work out why i was declined and thank the lord i was,people should be told "Too many searches or income to low ect ect and that way they can work on correcting what ever the issue,even if its we dont want you as a customer.:p

    Yes maybe the above is a bit simplistic but would help people understand what areas need improving.
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