Credit???

[HRG.]

WTF

I've just applied for a credit card as I haven't had one for a while, I wasn't really bothered about having one (another form of credit I haven't had for a while) but it would have helped the gf's monthly target.

Now I've got a very healthy bank balance, a house that's fully paid for, no loans whatsoever and yet I got turned down

The only fly in the ointment that I can see is that I am a company director and only pay myself £5220 PA.

I know the say credit is hard to come by but WTF is going on?

[Vipers]

If you were up to your eyeballs, they would give you one no doubt. My wife, (retired) no income was sent a card from her bank with a £9000 limit on WTF.

A ploy to get her in debt no doubt. Me the earner, good income only has a current limit of 6k.

[HRG.]

I used to have a limit >£10K but I cleared it down.

I haven't had any credit whatsoever for three years or so. I didn't want a card and I've never been refused credit but of course now I can't have it I really want it

Perhaps it's a cunning ploy on behalf of the banks to make credit somehow more desirable

[Vee]

How are they going to earn money from you ?

They don't think they can based on your credit profile so no point wasting time and money on adminstration of your account.

[camp freddie]

I got offered one with a £15k limit the other day which is strange

[ringram]

Sign up with a new bank with a package deal like A&L. Though perhaps now you have been refused you may have issues.

[Menguin]

Vee said:

How are they going to earn money from you ?

They don't think they can based on your credit profile so no point wasting time and money on adminstration of your account.

Don't the merchants that accept your card pay a percentage of each transaction? Or does that go directly to VISA/Mastercard?

[a_bloke]

HRG. said:

I used to have a limit >£10K but I cleared it down.

I haven't had any credit whatsoever for three years or so. I didn't want a card and I've never been refused credit but of course now I can't have it I really want it

Perhaps it's a cunning ploy on behalf of the banks to make credit somehow more desirable

I'd say they reckon its either not worth your while or they've been unable to find evidence of any other loans / cards to check against. Also have you registered with credit expert to check your history? They offer first month free, afterwhich you can cancel if required.

[HRG.]

a_bloke said:

HRG. said:

I used to have a limit >£10K but I cleared it down.

I haven't had any credit whatsoever for three years or so. I didn't want a card and I've never been refused credit but of course now I can't have it I really want it

Perhaps it's a cunning ploy on behalf of the banks to make credit somehow more desirable

I'd say they reckon its either not worth your while or they've been unable to find evidence of any other loans / cards to check against. Also have you registered with credit expert to check your history? They offer first month free, afterwhich you can cancel if required.

I registered with Credit Expert a while back and did a check and there's nothing untoward on there whatsoever. You're probably right about it being because I don't use credit any more they can't check I've spoken to my own bank and I'll see what they can do for me.

[scotal]

HRG. said:

You're probably right about it being because I don't use credit any more they can't check.

That'll be what it is. No mortgage, no cards, no loans = no history. No history = no new credit.