Why was I declined credit?
Your One Minute Response...
1Each creditor will evaluate your application for credit based on your individual circumstances. We’ve listed some possible reasons for your application being declined below.
2If you’ve had difficulty managing credit in the past.
3Lenders make judgments about whether to give you credit based on your Credit History. If they can’t see a long enough history or you haven’t used credit before, they may well decline your application.
4If you are eligible to vote, make sure you are on the electoral roll, otherwise the lender may not be able to verify your address and will be less likely to accept you.
5If you have a County Court Judgment (CCJ) or Bankruptcy against your name, most lenders will decline your application.
Why you may have been refused credit
There are several different reasons why your application for credit may have been turned down. Credit card issuers look at your individual circumstances and credit history and assess your ability to manage a credit card account and repay a credit card debt.
You may have been turned down because:
- You missed a repayment on a credit card, loan, mortgage, catalogue, mobile phone or similar account
- You exceeded your credit limit on a credit card, loan, mortgage or similar account
- You may be new to credit and have no previous credit history
- You may be new to the UK and have no credit history here
- You may not be on the electoral roll and therefore not traceable
- You have a County Court Judgement against your name
- You may have provided incorrect information on a previous application for credit