Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Willywonga
    • By Willywonga 12th May 17, 9:23 AM
    • 1Posts
    • 0Thanks
    Rejected. Twice. Why?
    • #1
    • 12th May 17, 9:23 AM
    Rejected. Twice. Why? 12th May 17 at 9:23 AM
    I am confused by how credit card application decisions are made.

    I have only been stoozing for three years now and have done so carefully. My first card was a Lloyds 0% Purchase card with a £12k limit, which I used the majority of. When that came to an end I applied for a Santander 0% (and 0 fee) BT card, with a £5,200 limit which I used to BT from the Lloyds and then paid down the remaining Lloyds debt and closed the card.

    Six months later I applied for another 0% purchase card with Lloyds, granted, this time with a £8k maximum limit. When Santander ended, I paid it down and closed it.

    Then I applied for a Tesco 0% purchase card which only gave me a limit of £3900 (which Iím still using). However my Lloyds card is coming to an end and my plan was to BT to another 0% card (with another provider).

    So I recently applied for a Sainsbury card Ė rejected. I then applied for a another (canít remember the provider) on the same day Ė rejected again. I have been forced to pay down the whole of the debt on the Lloyds card as I canít BT and don't want to aply for another for fear of being yet again rejected.

    My credit report was gleaming prior to these two rejected applications and it will now have left two black marks and I wonít be able to apply for another card. My total gross income is £55k / outgoings £25k.

    Why have I been rejected? When I was rejected my credit utilization rate was 78% - was this possibly the reason? If so, but I thought this was the point of stoozing?!

    How long should I now wait to apply for another card?

    Why did one provider give me £12k credit but another only £3,900?

    How long do rejected applications last on your credit file?

    How often does your credit file get updated? What am I doing wrong?

    How can I predict a) if I will be accepted and b) how much limit they will grant?

    Any advice would be appreciated.
Page 2
    • edinburgher
    • By edinburgher 15th May 17, 8:37 AM
    • 11,120 Posts
    • 59,700 Thanks
    Really? Actually I think I have grasped the right end of the stick.
    This newbie with a username which sounds like a payday loan company who has never returned to the thread after making his one and only post has opened and closed so many accounts and transferred this balance so many times over the 3 years that he has allegedly been stoozing that he cannot possibly have made any profit whatsoever on this so-called stooze. In fact with all the bt fees he must have paid he has clearly made a loss.
    Reading the OP it would appear that he opens accounts gets a very short bt period, probably something like 6 months, pays the fee and at the end of the short bt period pays another fee to transfer the balance again. This looks much more like debt than stoozing to me.
    Originally posted by Ben8282
    Ok, so I'll admit that I was a little quick to assume that you were passing judgement on the OP without reading their comments fully, but there is only one mention of a 6 month BT. So I stand by the comment that you may have grasped the wrong end of the stick, you're coming up with hypothetical information for several points
    • Chrysalis
    • By Chrysalis 15th May 17, 10:05 AM
    • 2,214 Posts
    • 1,056 Thanks
    my credit rating hasnt been harmed by 0% cards.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,166Posts Today

6,909Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin