Credit Card Declined

km991148

Hi,

Looking for advice - Got a Tesco CC declined unexpectedly. I have got my credit report and all looks fine (had a PL paid off last year, got an AIB cc that gets paid off in full every month etc) nothing unusual.

Called tesco and they told me to write to appeal the decision - I will do this to try and find out why I got knocked back - but any other reasons someone can think of?

I don't own a house, but have steady income etc The only small discrepancy in the application is that I stated my CC bal was 0, but the payment hadn't came off and still showed a small balance on the credit report - but surely they would query this with me rather than a flat refusal?

km991148

meant to say tesco CC application..

Atlantic Dawn

Why would you want another card, why not just look for an increase on the AIB one?

km991148

Atlantic Dawn wrote: »

Why would you want another card, why not just look for an increase on the AIB one?

Thanks, but I don't need any increase at all - Tesco cards are one of the few cards in Ireland that give benefits to users of the card. I spend on and pay my card off in full every month, so reckoned I may as well get clubcard points as well..

I didn't think applying for it would be any issue at all, but now I have a search added to my credit file, which kinda p!sses me off as otherwise I would have thought I had a good credit file!

coylemj

km991148 wrote: »

Thanks, but I don't need any increase at all - Tesco cards are one of the few cards in Ireland that give benefits to users of the card. I spend on and pay my card off in full every month, so reckoned I may as well get clubcard points as well..

How many clubcard points will it take to justify paying the annual Govt charge on credit card accounts of €30?

dobsdave

coylemj wrote: »

How many clubcard points will it take to justify paying the annual Govt charge on credit card accounts of €30?

The op already has a cc. Maybe it was a switch as opposed to getting an extra card?

km991148

coylemj wrote: »

How many clubcard points will it take to justify paying the annual Govt charge on credit card accounts of €30?

No Idea (off to check.. ~500points per month-therefore 6month?) but I pay that anyway - the idea was to swap one card that gives nothing for another that gives something..

Clubcard points are fairly sh!tty as a reward - but I cant help that the Irish market is stagnant..!

So in ref to the original post..any suggestion on what I can do to not be declined for basic credit - particularly interested with anyone who has experience with this product.

3DataModem

km991148 wrote: »

No Idea (off to check.. ~500points per month-therefore 6month?) but I pay that anyway - the idea was to swap one card that gives nothing for another that gives something..

Clubcard points are fairly sh!tty as a reward - but I cant help that the Irish market is stagnant..!

So in ref to the original post..any suggestion on what I can do to not be declined for basic credit - particularly interested with anyone who has experience with this product.

It's not that the market is stagnant, is that credit card fees are so low. In the U.S. the card issuer gets maybe 1.6% of the translation to pay rewards from. In Europe a lot lot less.

hognef

3DataModem wrote: »

It's not that the market is stagnant, is that credit card fees are so low. In the U.S. the card issuer gets maybe 1.6% of the translation to pay rewards from. In Europe a lot lot less.

That may be true, yet the number of cards with (more significant) awards are much more common in other European countries such as the UK and Norway. No doubt the lack of competition here is a significant contributor.

km991148

ye - a bit of both - I know a lot of the rewards cards in the UK offer far fewer rewards now than 5-7+ years ago - but its definitely better than whats available here..

Trish56

Are you not entitled to be informed why your application was declined? I think you are so I would contact Tesco and ask for an explanation. If you have a good credit rating and are switching from your existing card with AIB there should be no reason for you to be knocked back.