Refused credit card - why?
Discussion
loggo said:
For all the input
As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
Credit card companies don't for the most part like people who pay their balance monthly. As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
Barclaycard and I agreed a deal some years ago where I would use them solely in return for a credit limit the sum of my other cards.
A couple of years ago they slashed my limit by 1/3. They had "no record" of any agreement with me.
So I opened an AMEX and now have a total limit of about 150% of my previous Barclays one. I also get cashback. So the Amex gets used whenever possible.
Barclaycard's revenue through their card is down about £80kpa. I am sure the boss of Barclays isn't laying in bed worrying about that, but they will have lost revenue as a result of doing it to me.
loggo said:
For all the input
As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
So when you say you have been refused a credit card, have you actually applied for any? Or have you just tried using some "checker" type websites ?As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
Barclaycard can be a bit fussy, I suspect it may be because they won’t make much money out of you, or your credit limit on your other credit cards is too high.
I’m a Barclaycard Premier current account holder, and Barclaycard have been declining me for years. Dont take it personally, plenty of other card providers out there.
I’m a Barclaycard Premier current account holder, and Barclaycard have been declining me for years. Dont take it personally, plenty of other card providers out there.
snuffy said:
loggo said:
For all the input
As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
So when you say you have been refused a credit card, have you actually applied for any? Or have you just tried using some "checker" type websites ?As an update I have just run my experian rating and I score 983 out of 999.
Even with that m&s don't want to know me !
By the way I am using money saving experts "likelihood of being accepted" checker to run a few "what if" scenarios and if I change my employment from working part-time and receiving a pension too retired I am getting some 100% probability offers including Capital 1 and Virgin money so all is not completely lost !
Banks are pretty shoddy. Have raised three complaints in the last year on three banks, they all deny anything, they are all poor in my opinion.
Last one was a chaps ( same day transfer) for almost 300k between two banks both my own accounts.
Took 8 days to appear in the receiving bank, despite calling both of the them every day to ask where my same day transfer was, neither had any idea.
Raised two complaints, both declined, the first bank said we did the transfer same day, not our fault, the second one said, they cant trace the money during transactions, it might be undergoing checks in the missing 8 days, they have no way of knowing.
So they are as bad as each other, I'm with four banks, all of which in the last year have cocked something up.
So as far as Barclaycard, they are probably no worse than any other institution. Their rewards card is amazing, zero foriegn fees worldwide and amazingly you can use it at an atm with no charges. Use it all the time when I travel. Only downside is they do not connect to google wallet if you are android.
Like you though. I have no debts, only the phone is my monthly debit , always pay on time, never had a loan in my life apart from the mortgage, which is long gone.
Last one was a chaps ( same day transfer) for almost 300k between two banks both my own accounts.
Took 8 days to appear in the receiving bank, despite calling both of the them every day to ask where my same day transfer was, neither had any idea.
Raised two complaints, both declined, the first bank said we did the transfer same day, not our fault, the second one said, they cant trace the money during transactions, it might be undergoing checks in the missing 8 days, they have no way of knowing.
So they are as bad as each other, I'm with four banks, all of which in the last year have cocked something up.
So as far as Barclaycard, they are probably no worse than any other institution. Their rewards card is amazing, zero foriegn fees worldwide and amazingly you can use it at an atm with no charges. Use it all the time when I travel. Only downside is they do not connect to google wallet if you are android.
Like you though. I have no debts, only the phone is my monthly debit , always pay on time, never had a loan in my life apart from the mortgage, which is long gone.
Credit card companies have to make money. Most do so on the backend through interest. AMEX customers, on average, earn 3x of those with visa and Mastercard. As a result, AMEX makes a fraction of revenue through interest as most pay off their balance in full. In fact, AMEX corp cards were charge cards which charged a fee if it wasn’t paid off in full.
AMEX make their money from the vendor by charging a lot more than Visa and Mastercard. Thats why so many vendors do not accept AMex. They also make money from the cards by charging a high annual fee to the user.
AMEX make their money from the vendor by charging a lot more than Visa and Mastercard. Thats why so many vendors do not accept AMex. They also make money from the cards by charging a high annual fee to the user.
Edited by h0b0 on Sunday 26th May 16:40
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