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Why Would I Be Turned Down For A Credit Card I Wonder?
38 Answers
Been with the same bank almost 50 years, never had HP, bills always paid in full and on time.
Home owner with no mortgage, credit score of 999.
And yet, when I applied to my bank for a Credit card (just to use for larger purchase protection) I was turned down. Wrote back and asked for an explanation - nothing. Did the credit score thingy, with the above result
What other reason could they have to reuse, any ideas please?
Home owner with no mortgage, credit score of 999.
And yet, when I applied to my bank for a Credit card (just to use for larger purchase protection) I was turned down. Wrote back and asked for an explanation - nothing. Did the credit score thingy, with the above result
What other reason could they have to reuse, any ideas please?
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Thank you all, I have read all the replies, not quite taken everything i yet. Will read again carefully.
Yes, I do have an Amazon account.
The 999 score was from Experian after filling in all personal and financial details.
I will try and go to my bank and ask why, though I have written over 10 days ago back to their Credit dept, with a ps saying "It's quite easy to change banks these days" thinking that may get me a response, no.
Meanwhile I'll try with one of the others mentioned. It was only really for major purchases in case anything went awry.
As mentioned, may be my age (74) maybe just that they will make nothing from it.
Thanks again for all responses.
Yes, I do have an Amazon account.
The 999 score was from Experian after filling in all personal and financial details.
I will try and go to my bank and ask why, though I have written over 10 days ago back to their Credit dept, with a ps saying "It's quite easy to change banks these days" thinking that may get me a response, no.
Meanwhile I'll try with one of the others mentioned. It was only really for major purchases in case anything went awry.
As mentioned, may be my age (74) maybe just that they will make nothing from it.
Thanks again for all responses.
/// I strongly suspect that '999' is just a code used to mean "nothing is known about this applicant's credit history", which is what one would expect to see if you've never had credit.///
Not the case, my score is 999 yet the record includes detailed copious data about my borrowing/repayments, and has done so for at least the last twenty years.
Not the case, my score is 999 yet the record includes detailed copious data about my borrowing/repayments, and has done so for at least the last twenty years.
If you decide to go for one of the cards like Capital One or Vanquis, don't keep it for 'just in case'. Use it to make some purchases and pay it off by the due date, that way you start to build up a credit history which will make things easier for the future. I am afraid that no credit history is as bad as a bad history. Although when Banks give someone a card they are hoping that you will pay interest, they have no idea how you will use it, they know they will get their percentage from every transaction. The retailers also have to pay the Bank to be supplied with machines that process the transaction.
I haven't paid interest on a credit card or any kind of loan or overdraft for over 20 years. Mortgage paid off 25 years ago and I never have a problem getting a credit card. I get one every so often if I have a planned big spend coming up and I use it for the promotional x months of interest free credit. My credit score is also 999.
Maybe the difference is that I have always used a credit card and use it for absolutely everything - a minimum of £1500 a month. I may not pay interest on it because I pay it off in full every month but the credit card company still gets its payments from the retailers and the companies I use the card with. They still make money out of me. I have a credit history, you don't, ferlew.
Maybe the difference is that I have always used a credit card and use it for absolutely everything - a minimum of £1500 a month. I may not pay interest on it because I pay it off in full every month but the credit card company still gets its payments from the retailers and the companies I use the card with. They still make money out of me. I have a credit history, you don't, ferlew.
Just had a quick look at it, it is a Mastercard so should be acceptable everywhere. Interest rates seem pretty average at the moment, but if you are going to pay it off, no problem. There is a points system which restricts you to Amazon but if you shop with them regularly the vouchers will save you some money.
Plus point:
It's a Mastercard, which is accepted almost everywhere in the UK and abroad.
Fairly neutral point:
The interest rate (should you ever need to pay interest) is roughly in line with that charged by other 'reward card' providers. (e.g. it's only very slightly higher than M & S charge for using their Reward Card).
Plus point:
Important, and as already stated, there's no annual fee for holding it.
Potential plus point:
If you use the card a lot, you'll work your way towards free Amazon gift cards. (Don't expect to make a fortune out of it though. You need to spend £1333.33 on Amazon, or £4000 elsewhere, in order to earn a £10 reward).
Big plus point:
You get a £20 Amazon gift card just for signing up.
Possible minus point:
The card is actually operated by a financial services company called NewDay, which doesn't always get good reviews for their customer service. (However very few card providers do anyway!)
It's a Mastercard, which is accepted almost everywhere in the UK and abroad.
Fairly neutral point:
The interest rate (should you ever need to pay interest) is roughly in line with that charged by other 'reward card' providers. (e.g. it's only very slightly higher than M & S charge for using their Reward Card).
Plus point:
Important, and as already stated, there's no annual fee for holding it.
Potential plus point:
If you use the card a lot, you'll work your way towards free Amazon gift cards. (Don't expect to make a fortune out of it though. You need to spend £1333.33 on Amazon, or £4000 elsewhere, in order to earn a £10 reward).
Big plus point:
You get a £20 Amazon gift card just for signing up.
Possible minus point:
The card is actually operated by a financial services company called NewDay, which doesn't always get good reviews for their customer service. (However very few card providers do anyway!)
^^^ Crossed posts. My answer above (probably obviously) refers to the Amazon card, not the Vanquis one.
I know nothing about the Vanquis card but I've held a Capital One card for years and I'm happy enough with it.
My Capital One card is a Visa card but I note that their website is now showing the Mastercard symbol. Vanquis appears to use the Visa network. Within the UK, or for online shopping worldwide, it doesn't really make much difference as to whether you're with Visa or with Mastercard; they're both accepted almost anywhere. The only time that you might encounter a difference is when making purchases in stores (or, say, at railway station ticket machines) overseas, as in some countries it's hard to get Visa accepted, whereas in others in hard to get Mastercard accepted.
I know nothing about the Vanquis card but I've held a Capital One card for years and I'm happy enough with it.
My Capital One card is a Visa card but I note that their website is now showing the Mastercard symbol. Vanquis appears to use the Visa network. Within the UK, or for online shopping worldwide, it doesn't really make much difference as to whether you're with Visa or with Mastercard; they're both accepted almost anywhere. The only time that you might encounter a difference is when making purchases in stores (or, say, at railway station ticket machines) overseas, as in some countries it's hard to get Visa accepted, whereas in others in hard to get Mastercard accepted.
Don't know much about vanquis, their interest rate is exorbitant. There doesn't seem to be any rewards at all. You will always have to spend a lot to benefit from any rewards system, but I put nearly everything on the card and pay off at the end of the month, the points do seem to mount up quite quickly.
One point, don't do too many applications which result in a search registered on your credit file, that will eventually work against you., Lenders will be concerned that you are obtaining too much credit.
One point, don't do too many applications which result in a search registered on your credit file, that will eventually work against you., Lenders will be concerned that you are obtaining too much credit.
I've got a Barclaycard Cashback card. I put everything I can on it, pay it off in full every month, always. I have never paid a penny in interest but get 0.5% cash back every month onto my account, paid to me once a year. Barclays make their money from the retailers where I make my purchases. Haven't looked at my credit score lately but I think it's usually about 995. I have noticed the more I put on my credit card the lower my score goes. Odd, as they know I always pay it off!
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