Ffs been turned down for credit card!!

[whymewhyme]

I'm fuming!! I went in to money saving expert did the eligibility check it came up Barclay card , I've just applied and its been declined!!! I'm so angry!! Will this show up in my credit score?? Can I apply for other cards?? My cars in need of some work and I only need about 500 quid!!

Before you apply anywhere else, its worth getting a copy of your credit report and seeing why you might have been refused.
If you don't and there's an issue that isn't addressed then you could be refused again and it will spiral.
I got a free credit report from the giffgaff website and one from MSE.
The giffgaff one showed I had a credit account open with a store card. I thought I had closed it over a decade ago.

We saw a mortgage advisor last week and they recommended Noddle for your credit report. It's free. I signed up and it's very easy to use. I'd absolutely second SuperLoud's advice.

I did my credit report on Equifax and it's in the green and says excellent!! I literally can't believe it!

Can I apply for another credit card strait away? A friend of mine said that I've got to wait three months!

You can apply but it would be better to find out why you were declined, in case it happens again.
Surely your bank would give you a loan or overdraft?

You can apply straight away although if they use the same lending criteria you may have the same result

What other borrowing do you have ?
Do you have any savings that could pay for the car repair?

It is worth asking the credit card company that rejected you as to why they rejected you. I particularly remember M&S rejecting me and I called them and they told me why. At the time I didn't meet their criteria but also recommended I tried with my mortgage bank. It worked.

When you do that eligibility check on MSE it gives a percentage chance you have of getting the credit card.

My credit score is poor and the card offered to me on that website was HSBC with a 40% chance of being accepted. I applied and got accepted (which was just as well coz I urgently needed to do a balance transfer).

On the other hand, my own bank, Lloyds, who I have banked with for 35 years, has never accepted me for a loan, credit card or mortgage. Go figure.

There must have been other cards offered too. Try them.

Always best to try a credit card with your own bank.

You can apply for another one, but applying for lots of credit quickly ia a red flag for lenders

I've spoken to Equifax and they have confirmed my score is excellent and it's likely to be typing error which has contributed to being declined a card. They have told me to ring Barclays and ask for a manual review of my report! Sounds like a lot of effort!

If they’ll reconsider so you can have a barclaycard that would be great. I’ve had numerous credit cards over the years, and this is my preferred card. After being with them a while they offered a “cash transfer” rather than a balance transfer which I’ve found much more useful.

Off topic slightly - I know that Halfords Autocentres offer interest free finance on car repairs over £200 BUT you’ll need to pay 25% of the balance upfront.

I was rejected for a loan by my own bank, when I spoke with them we ran it again and I was accepted. They did warn me I ran the risk of refusal again, but I couldn’t see why I would be, so chanced it

Could it be because your credit score indicates that they are unlikely to make much money out of you in interest charges?

I once got refused because the data entry bod (this was a long time ago!) typed in my surname as Smith instead of Smythe, so I didn't exist when they did their credit checks.

They acknowledged their mistake with very ill-grace months later, by which time I'd found another card provider anyway.

I've spoken to Equifax and they have confirmed my score is excellent and it's
likely to be typing error which has
contributed to being declined a card.

You do that no one apart from you and Equifax sees this mythical score, right? They see your history, that’s all.
I’m quite surprised they told you it’s likely down to a typing error, how on earth would they know that?

All lenders have individual algorithms which will decide who they want to lend to, that’s all. No one can advise why you’ve been rejected, but I really doubt it’s down to an admin error!

I don’t mean to sound harsh but if finance providers are going to lend to people then they want to see that they can manage their outgoings against their income, and if you don’t have a small amount saved to cover essentials then there may be other factors that suggest you’re not a great candidate.

@19lottie82 yes they did actually say it may be due to a typing error and I did up until January have a lot of money set aside of essentials but I've just brought a house and my last 5yrs of savings has gone on that.

Maybe, or likely to be? Your 2 posts say different things.

@19lottie82 I don't know why you bothered replying tbh

If you've just bought a house then your credit will take a hammering with a new mortgage. I was told not to apply for any credit for at least 6 months post new mortgage

I thought my post was pretty helpful, in regards to why you might have been rejected, even if you don’t like it.

This happened to me! I'd spelt my name wrong not kidding either such a dumb mistake but it was a decline. Went elsewhere thoroughly checked my application and was approved there and then