What factors determine getting a credit card?

I have appplied on two sites for a credit card and have on both occasions been declined. I have paid off all credit except for one which is currently direct debited out of my account. I’m full time emplyed and have lived at my current address for 2 years. I lived at the previous address for 24 years. Why can’t I get a credit card?

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4 Responses to “What factors determine getting a credit card?”

  1. Karen B said:

    Different companies use different some use your credit score and others judgmentally lend, if you have no bad credit – it could be how much you already owe – or how much you earn – it is also possible you may have a card with them in the past – a lot of companies issue cards on behalf of other companies for example MBNA issue cards for Virgin and Alliance and Leicester amongst hundreds of others, if you have had a promotional rate with them in the past they’re not going to give you another one

    also you ask them, they may not give a specific reason but they can give you an idea

  2. johnny c said:

    With a record like that you shouldn’t have a problem. The only things I can think of

    1 You applied for 2 at the same time, but to be honest I don’t know why they would decline you
    2 Are you a homeowner? Being in rented property goes against you quite a lot, because you’ve no equity, also people in rented properties can move easier and leave no forwarding address. Having said that you haven’t moved much, so that shouldn’t be much of an issue.
    3, although you’ve paid off your other credit, did you miss any payments in the last year or two? They can check back further but don’t usually.

    You don’t say you have any bad credit, so I assume you haven’t.

    Suggestions:
    1, phone the credit card companies, and explain what’s happened and se if they can tell you why you were declined. If you go through to the sales team, they are trying to get new accounts so will be more likely to persist in helping you get the card than say customer services who may fob you off saying they don’t know.

    2, check your credit record. I do urge you to do this, it’s very easy. You can get a free month’s trial at creditexpert.com (run by equifax), make sure you cancel the subscription before the month is up. There is a chance that if you’ve had mail going to the old address you’ve had your identity stolen, and someone is taking out loans in your name at the old address (or another). If that has happened, get in touch with your current credit card comany and bank, these days they have departments to help people who are being cloned like this.

    Good luck, I presume you are trying o get a 0% balance transfer offer, ther are some good long 0% offers at the moment, and they can really help people who are trying to get out of credit.

  3. Emily S said:

    They will decline you if you have bad credit, or if your debt to income ratio is high.

  4. CLIVE H said:

    Keep on trying.

    http://www.moneysupermarket.com/cards/

    http://www.moneynet.co.uk/credit-card/index.shtml

    http://www.creditsearcher.co.uk/

    http://www.moneyextra.com/

    http://www.mbna.co.uk/

    Apply or as many credit cards as you like. Get a bunch of cards. You only need ever use one of them, the rest you can simply ignore if you like. Getting a credit card costs nothing, but using one costs a lot.

    Visit the site below
    http://www.thisismoney.co.uk/tools-and-calculators/polls/index.html?in_page_id=88&in_poll_id=14292




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