Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

Rejected for a credit card - why?

11 replies

YelloDraw · 11/09/2016 11:54

Hi
I applied for a 0% credit card a cople of weeks ago anbd have been rejected - but I have near perfect credit history. Does anyone know why I would be rejected? The rejection letter is so b land.
Credit history:

  • Experience score of 996
  • Have a CC that I put stuff on most months but pay off in full each month
  • Had a mortgage until a few months ago when sold property. In process of buying a new property and have mortgage arranged on that.
  • No other debts. No finance on car, nothing.

As far as I can see I am a super safe bet?

I'm quite keen to ge ta zero% CC to ge some stuff for new house when I move in, but I don't want to apply for more and be rejected as this damages your credit score doesn't it?

OP posts:
Mybeardeddragonjustdied2016 · 11/09/2016 11:58

When you have nothing on finance it's hard to get finance as there are no real records to show you are good for the repayments! Catch 22!!My dm tried to buy me a car and couldn't get car finance as she had never had anything on credit! Then they told her she couldn't anyway as she hasn't got a driving licence! Confused

hownottofuckup · 11/09/2016 12:02

It might be to do with the mortgage, you can only make si many applications for credit/bank accounts in a given time period so it could simply be that.

Gracey79 · 11/09/2016 12:03

Are you on the voters roll?

Original poster
YelloDraw · 11/09/2016 14:19

Thanks for the responses everyone.

Yeah maybe it is that I just got the mortgage - i'll wait a month or so and try another CC.

I am on the electoral roll, and thought that my existing CC and old mortgage would have been enough to show debt repayment risk but maybe not.

OP posts:
dudsville · 11/09/2016 17:20

I suggest you use online forms and keep trying until you are accepted. I regularly take out 0% interest credit cards. I have a great credit rating but I often have to go through a few applications before I am accepted.

tribpot · 11/09/2016 17:28

I wouldn't keep applying - Experian note repeated applications can be damaging for your credit rating although American Express note that applications made within the same 14 day period will be treated for credit purposes as a single application (i.e. you're shopping around rather than down to your last sixpence).

Paddybare · 11/09/2016 21:59

Use the card eligibility checker on moneysaving expert. These use a soft search of your credit file and give you a percentage chance of acceptance on a wide range of cards before you actually apply.

PieceOfTheMoon · 11/09/2016 22:02

Did they ask you any questions about your income or outgoings? Even with a perfect credit score you can get rejected if you don't have enough disposable income.

Original poster
YelloDraw · 12/09/2016 20:42

Did they ask you any questions about your income or outgoings? Even with a perfect credit score you can get rejected if you don't have enough disposable income.

Nah they didn't ask any questions - I do have a decent disposable income (no kids and associated costs!).

OP posts:
Original poster
YelloDraw · 12/09/2016 20:43

Oooh thanks Paddybare I didn't know about that! Will try that.

OP posts:
Original poster
YelloDraw · 13/09/2016 18:00

Quick update - I did the MSE eligibility thing and have been accepted for one of the 0% cards it recommended. Thanks for the tip.

OP posts:
New posts on this thread. Refresh page