You are here: Home >> Credit Card Questions >> Why Can't I Get Credit?

Why can’t I get credit?

Your One Minute Response...

1
You may have managed credit poorly in the past. Missed payments, CCJs or a bankruptcy on your Credit Record would count against you.
2
You may not be on the electoral roll. Being on the electoral roll allows lenders to verify where you live and you’re very unlikely to obtain credit without it.
3
You may have been the victim of identity theft. This could have a negative effect on your Credit Record without your knowledge.
4
You might not be able to prove a regular income, or your income may not be high enough.
5
You may have made several recent applications for credit. This might be interpreted by lenders that you are desperate to borrow money.

What's stopping you from getting credit?

Every lender has their own system for identifying who they will and will not accept for a credit card. This list may help explain why you haven’t been able to get credit.

Common reasons for credit refusal are:

You may have County Court Judgements (CCJs) against you.
You have been declared bankrupt.
You are unable to prove a regular or high enough salary. This may suggest to the lender that you can’t afford the credit you’re applying for.
You have been late in making payments or missed them altogether on existing credit agreements. This will be noted on your record.
If you’ve moved home recently or changed addresses frequently, the lender may not be able to verify the address details you’ve given them.
Similarly if you have not registered to appear on the electoral roll, this could create problems for you as lenders won’t be able to find you.
You may also have made multiple applications when you were turned down by one lender but decided to re-apply with another lender straight away. This can be damaging to your credit score. Every time you make an application for credit, a credit search is conducted by the potential lender and this search is recorded as part of your credit report.
You may have been the victim of identity theft. Someone may have used your personal details to obtain credit cards using your name.

You may be able to find out why you’ve been refused credit by checking your Credit Report. For more information on how to do this, go to the ‘Checking My Credit Record.’ section. Your Credit Report will show you the information that lenders can see when they check your Credit Record. If the information is wrong you can demand that it is changed or removed.

You can check your own credit file as often as you like, but any third party doing the same will leave a record of that search.

If you have applied for a number of credit cards recently, your credit rating will suffer. So stop applying for cards for 3 to 6 months to give you time to repair your credit rating. In the meantime, continue paying your bills and making your repayments on time, stay within your credit limits and your credit rating will start to recover.

Compare All Cards

Need more information to help you decide which card is best for you?

Compare credit cards »

The Right Card
For You

You may be surprised to find you are not alone. We may be able to recommend a solution to your problem.

Find the solution »

Aquis Credit Card

Aquis is designed for people who’ve had minor setbacks in their recent credit history — or have maybe been refused credit from high street banks. We will look at your situation as an individual and give you the chance to get back on track with a new credit card and build your credit rating.

Representative

29.8% APR (variable)

1 minute response

Vanquis Credit Card

Vanquis specialise in helping people to build or rebuild their credit rating. Maybe you’ve been turned down for a Credit Card or a loan in the past. We understand that situations change, so we look at your position now — not just your past history. We help you to carefully manage your account and to increase your available credit over time.