Will my credit card application be accepted? - Alfa Romeo Forum
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View Poll Results: Will my card application go thtough?
Yes 6 37.50%
no 9 56.25%
other 1 6.25%
Voters: 16. You may not vote on this poll

 
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EddieGTA
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Will my credit card application be accepted?

Pop quiz, I have just applied for a barclaycard for the 14 months 0% on transfers. I got back the "sorry we could not give you an answer, we will write to you with a decision"

So will my application go through? having had similar before with capital one, and being turned down, when applying for a mortgage I asked what my credit rating was like and the guy reckoned it is as good as it can get. I am fortunate... or maybe tight fisted enough that I rarely go overdrawn, have only missed a couple of card payments due to forgetfullness, and other than the mortgage my only debt is the money on my virgin card.... which was also a now expired 0% deal that I never managed to clear

So what do you reckon, I think no as they won't make enough from me.
 
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Re: Will my credit card application be accepted?

Had similar mate, when you don't borrow money, you don't have a credit rating!!! Got turned down for a mobile phone contract when I was 20 ish cos the only thing I had ever borrowed was a bank loan for my car, which itself was 2 years only and paid off after a year.

People who don't live on their credit card are in the rarity mate, and as such banks have no idea what to do with us.

It will likely be the mortgage refusal giving them the heebies till investigated.
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Re: Will my credit card application be accepted?

Things in the banking world are difficult, check your record with Equifax "or the like" to discover how you are rated. Buy everything on direct debit / standing order and the system will love you. Don't miss payments and challenge any defaults that may affect your rate.
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Re: Will my credit card application be accepted?

Quote:
Originally Posted by EddieGTA View Post
...So what do you reckon...
You don't need the money; you already have a GTA

DJ
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Re: Will my credit card application be accepted?

What about petrol and insurance, don't even consider repairs
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Re: Will my credit card application be accepted?

They'll turn you down and lose a precious customer
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EddieGTA
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Re: Will my credit card application be accepted?

Quote:
Originally Posted by DrJustice View Post
You don't need the money; you already have a GTA

DJ
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Quote:
Originally Posted by James76 View Post
Had similar mate, when you don't borrow money, you don't have a credit rating!!! Got turned down for a mobile phone contract when I was 20 ish cos the only thing I had ever borrowed was a bank loan for my car, which itself was 2 years only and paid off after a year.

People who don't live on their credit card are in the rarity mate, and as such banks have no idea what to do with us.

It will likely be the mortgage refusal giving them the heebies till investigated.
Sorry no, the mortgage wasn't refused quite the opposite it went with no problem at all. It was when they did a credit check, I asked him what my credit rating was like as I had had this sort of thing happen before, according to their check my rating is very healthy. But that is the problem, they want someone that will rack up some debt and bring them some money, not someone who wants to just take advantage of their promotional offer.

As for the GTA... well you gotta feed the thing, and with the price of petrol
 
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Re: Will my credit card application be accepted?

I had the same problem once. Little or no use for credit other than mortgage (which at that time was a company mortgage) so had very little upon which to rate credit.

Cured it when I had to start buying my own cars again.
Borrowed the dosh from Volvo finance then immediately switched to 0% C Card deals 'til it was paid off. After that your credit rating goes up. Pay your hols and stuff on-line and before you know it they are on the phone wanting to increase your limit etc

Prob now is you get tons of junk mail from all the providers. If only they new - I make money out of them not the other way round - Ho, ho , ho
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Re: Will my credit card application be accepted?

Yes. My understanding of the banking sector at the moment is that they want low risk customers.
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Re: Will my credit card application be accepted?

the information held by credit reference agencies (experian & equifax) is purely factual, there is no "score" or "rating" as such held on file about you. each company you apply to will use this information in different ways to give you a "credit score", which will decide whether they will lend to you or not. it's a black art really and i've yet to hear a straight answer as to what exactly companies take into account, and there can be a very big difference from one to the next. don't forget that these firms often target a particular segment of the population so you could even be declined for being "too good" for them.

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Re: Will my credit card application be accepted?

Wait the decline letter !
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EddieGTA
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Re: Will my credit card application be accepted?

Well came home today and there is a barclaycard on the doormat!

Lesson learnt though, this is card number 3 and this time I will just use the 0% transfer offer
 
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Re: Will my credit card application be accepted?

Well done Eddie
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Re: Will my credit card application be accepted?

I'm a poor student, I've been given an Asda credit card.. (to get 2p off a litre of fuel - no good now as they don't do 99 RON )

Anyway, they gave me a £4K credit limit!! This is on top of my £5K overdraft from Nationwide.. All for someone who earns £300 a month. Good job I don't use the credit, card gets paid off by DD at the end of every month
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