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Trouble Obtaining Credit

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  • 04-08-2009 7:12pm
    #1
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭


    Hey everyone!
    New member here & I have a bit of a problem! I have applied for a credit card with my bank (Halifax) twice in the past year, both times I have been rejected. What bothered me more than being rejected was the factthat they couldnt tell me why I was when I enquired the second time. Up until now Ive never had any problems with Halifax but it maddened me that they could not even tell me what would improve my chances of obtaining one in the future. I am 26, am in permanent full time employment and earn around 1900.00 euro a month after tax. I pay all my Direct debits on time and rarely use my 200.00 euro overdraft. I also have nearly 7000.00 euro saved with them too. To be honest I was shocked I was refused one as I have friends that earn far less than me and had no trouble obtaining one. I applied to see my Credit Report with the ICB and it came back completely in the clear as ive never had a loan or credit card before. The only loans I have had in the past were with the credit union and the CU I am with dont report to the ICB.

    I guess Im asking for anyones opinions/help. I am definately planning on switching banks asap and would appreciate help on who to choose. Who is most likely to furnish me with a CC??? Im not even too bothered about a CC, the only reason I want one is because I want to start building a credit history so I can obtain a mortgage in the future as where im working now Ill most likely be for life.
    Thanks for your help!!!!


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    #2
    aphex™
    Closed Accounts Posts: 2,338 ✭✭✭aphex™


    I just have one piece of advice really: apply for a Tesco visa card, it's very easy to get one.


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    #3
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    aphex™ wrote: »
    I just have one piece of advice really: apply for a Tesco visa card, it's very easy to get one.

    Do you have to be a member of tesco clubcard to get one?


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    #4
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    filmbuffboy wrote: »
    Do you have to be a member of tesco clubcard to get one?

    No you dont, but i dont think tesco are the most easiest.. Have you tried mbna, been said they give you the card before you even send the all the documents.


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    #5
    footballcrazy
    Closed Accounts Posts: 82 ✭✭footballcrazy


    aphex™ wrote: »
    I just have one piece of advice really: apply for a Tesco visa card, it's very easy to get one.

    Not if you have a bad credit history?


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    #6
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    footballcrazy wrote: »
    Not if you have a bad credit history?

    I dont have bad credit history. I dont have any cred hist with ICB. thats the problem!


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    #7
    aphex™
    Closed Accounts Posts: 2,338 ✭✭✭aphex™


    Davy wrote: »
    No you dont, but i dont think tesco are the most easiest.. Have you tried mbna, been said they give you the card before you even send the all the documents.

    Mbna have really tightened their belts lately. Tesco is the way to go.. from my experience.

    You don't need a clubcard as is said


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    #8
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    aphex™ wrote: »
    Mbna have really tightened their belts lately. Tesco is the way to go.. from my experience.

    You don't need a clubcard as is said

    cheers man. I just applied for a tesco CC online a few mins ago. Ill post in a few wks on how I got on. If I dont get one ill be baffled as to why!?

    Now anyone have advice on what banks to switch to? I was thinking Ulster Bank as they are startin the visa debit in sept. I am sad to leave Halifax as up until now Ive recieved nothing but great service from them, but the fact that they couldnt even give me any info on why my applic was refused when im clear with the ICB and in no debt whatsoever maddened me to no end.


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    #9
    footballcrazy
    Closed Accounts Posts: 82 ✭✭footballcrazy


    I just applied for a tesco one aswell. First time applying for a credit card, It never asked me for a limit? How is the limit to what you can spend determined?


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    #10
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    footballcrazy wrote: »
    I just applied for a tesco one aswell. First time applying for a credit card, It never asked me for a limit? How is the limit to what you can spend determined?

    determined based on how much you earn, rent/mortgage payments, single/married etc etc etc.

    im told that usually your limit is low enough to start off with and they gradually increase it if you manage your money well.


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    #11
    NotorietyH
    Registered Users Posts: 2,509 ✭✭✭NotorietyH


    aphex™ wrote: »
    Mbna have really tightened their belts lately.

    Yup they actually reduced my credit limit back in January, which I'd never heard of! I think they had a panic attack when they saw my christmas spending!


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    #12
    BOOKWORM.1
    Closed Accounts Posts: 64 ✭✭BOOKWORM.1


    filmbuffboy wrote: »
    I dont have bad credit history. I dont have any cred hist with ICB. thats the problem!

    My sister was told the very same thing. They said they had noting to go on that's why she was refused a card. May I add after several bank statements, payslips etc were issued.


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    #13
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    BOOKWORM.1 wrote: »
    My sister was told the very same thing. They said they had noting to go on that's why she was refused a card. May I add after several bank statements, payslips etc were issued.

    It seems like a very unfair system if they are not willing to give someone a chance if they have never had credit before and have the means to repay it.


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    #14
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    Has anyone else here found themselves in a situation of having no history with the ICB and it going against them??? Or has anyone found themselves in this situation and resolved it somehow? Id appreciate all the help i can get!!!!!


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    #15
    Champ
    Registered Users Posts: 677 ✭✭✭Champ


    It mightn't have anything to do with your history etc... Word is that Halifax has effectively stopped lending in the Irish market due to political pressure from home base in the UK (the government cash injection etc). They have effectively priced themselves out of mainstreaming lending (last I checked) though I didn't think the credit card business was been scaled backed as well. Since there doesn't appear to be any logical reasons for your applications been shot down... seems the best working theory so far.

    You've had your salary mandated to your Halifax current account for some time yes?

    On another note now probably is the most difficult time to get your first credit card. Since most banks were severely hammered by the economic crash, they're fully occupied licking their wounds and thus the criteria for getting a credit card has probably been tightened considerably.


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    #16
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    Champ wrote: »
    It mightn't have anything to do with your history etc... Word is that Halifax has effectively stopped lending in the Irish market due to political pressure from home base in the UK (the government cash injection etc). They have effectively priced themselves out of mainstreaming lending (last I checked) though I didn't think the credit card business was been scaled backed as well. Since there doesn't appear to be any logical reasons for your applications been shot down... seems the best working theory so far.

    You've had your salary mandated to your Halifax current account for some time yes?

    On another note now probably is the most difficult time to get your first credit card. Since most banks were severely hammered by the economic crash, they're fully occupied licking their wounds and thus the criteria for getting a credit card has probably been tightened considerably.[/quote

    Yes I have been lodging my pay to my Halifax current acc every month for the past 2 & half years. Ive always liked the service they have given me but the fact that they couldnt give me a reason as to why my applic has been denied has made me decide to switch banks. Ive applied for the tesco cc, if i dont get it then Im just going to give up on it for a yr or so. keep saving & hope for a better result next year.

    I suppose it is a bad time to be applying for your first credit card. Its only been in the past year or so that ive even realised having a good credit history is necessary for obtaining a mortgage in the future.


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    #17
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    There is talk that Halifax may be winding down its Irish operations - therefore meaning that they may not be accepting credit card applications wholesale.

    I don't think it's you in this instance - it's more likely due to Halifax's internal policies. Try another provider.


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