Just wondered of anyone can tell me if i might have been refused a credit card because i already have one with Abby...basically i tend to transfer a lot when my 0% interest rate runs out, but i do cancel old cards as well, i tend to keep my main 2 cards whichare tesco and tsb advance.
Anyway the only other 2 i have running at the minute are Abby and postoffice, abby no balance, PO about 600, the card i applied for was virgin, i used to have one with them, cant find my card, so assumed i must have cancelled hence applying again to get the 0% BT for 16 months.
I have never in years and years been refused credit so find it wierd.
Michelle
hi
the reason i believe you may be refused is because you already have the virgin card, the reason i say this is because i tried to open today a new tesco credit card on-line and was rufused, when i rang up and questioned this i was told i could not apply until after 8 months of cancelling my first credit card. Im actually still very keen to open so will see if i can open in DH name and me be a additional card holder, will try and see if that works
Is your Abbey card underwritten by MBNA or Santander?
If the former and there's a balance on the card, particularly if it's still charged at 0%, you could certainly be turned down or handed a lowish credit limit by MBNA
(That said if, as in your case, there's no balance on your existing card, this lender is sometimes prepared to switch your credit limits around to give you a higher limit on the
new card.)
If your Abbey card is now operated by Santander (some accounts were taken back in-house circa July 2007), none of the above applies.
Have you looked at your credit reports lately? This after all is the information UK lenders see when you apply for a new credit card. (For help, see page 1 of the *How to obtain credit reports* sticky.)
Once you have your credit files, you'll be able to check your Virgin card account. If it's marked settled, you can safely assume the account has been closed down. Virgin/MBNA will consider applications from former cardholders in the period following closure.
Thankyou, both of you, i will have to check who itis underwritten by, but there was definetly no balance on the Abby card, as i have just rang and got a 0% on it now untill june...better than nothing, so i will leave it at this for now, and get a credit report before i decide to do another BT next year.
Thanks again
Today, I tried to open a new Tesco credit card on-line and was refused. When I rang up, I was told I could not apply until after 8 months of cancelling my first credit card. I'm actually still very keen to open, so will see if I can open in DH's name with me an additional card holder. Will try and see if that works
Yes, it should work.
Some lenders (eg. HSBC) will not consider applications from former cardholders in the 6 months following closure. The Royal Bank of Scotland stable (which includes Lombard Direct, Mint, NatWest, Tesco & Ulster Bank, as well as RBS itself) makes former customers wait 8 months and in the case of Egg, it's 12 months.
At the other extreme is MBNA, which runs Virgin. This lender accepts applicants a month or so after closure.
In all cases, it's advisable to check your credit reports to make certain the account is actually closed down and marked "settled" before you re-apply ;)
I have checked the terms and conditions leaflet which came with my new abby card and it said on there santander, so i think i will ring virgin to check that i did close the account down, thanks
