No credit credit cards fuck app

22-Jul-2017 21:23

The result could be more tinkering with their scoring systems. Card providers use scoring benchmarks to turn down an estimated 5 million applications each year.As lenders adjust, applicants will continue to be left in the dark over their chances of success, consumer groups warn. found that nearly eight in 10 people turned down for a card since 2011 were given a non-specific reasons for the rejection. While it is a lender’s right to decline anyone for credit, every recent application shows on a borrower’s credit report for three to six months. A frustrated borrower hit by a series of rejections will earn a longer-lasting black mark.The husband could not be a secondary name on the account because of his age. Only a few companies, such a Nationwide and Barclaycard, perform a “pre-check” to see whether you will meet their requirements before processing a full application and sending the data to an external referencing agency.A major reason for a rejection is incorrect data on your credit file.Credit card providers are rejecting “perfect” borrowers because they don’t fit secret scoring profiles designed to filter out unprofitable customers.The applicants’ credit files are damaged in the process.These can pay 5pc cashback on spending, or offer valuable Nectar points or Airmiles.But a source at one major provider told The Sunday Telegraph that because these cards were not as profitable for lenders, applicants were even more unlikely to get one.

He had a perfect borrowing history, stable address and job.The married father of two challenged the decision, arguing that the supermarket bank had pursued his custom at the checkout, but received a bland letter suggesting that he had too much “secured debt”.It later emerged that his £2m buy-to-let portfolio had counted against him.To add insult to injury, lenders then won’t admit the real reason for their refusal.

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In most cases decisions are taken by computers programmed to exclude certain borrowers.This can put a spanner in the works where, for instance, applicants have multiple sources of income.