Refused CC by BOI, MBNA & AIB - What now?

jockey#1

Hey,

I have a balance of about €1.5k on my halifax credit card which as everyone knows they will be shutting up shop soon.

With this in mind i applied for a BOI card, then MBNA and then AIB, they all turned me down. That was based on me working, since then i have lost my job so i am now unemployed to add to the above.

I know people are saying that if you cannot repay halifax they will convert to a loan, this is all fine but it depends on what interest they will be charging. This is why the MBNA card would have been ideal as there was 10 months interest free on balance transfers however other people would say i have had a lucky escape by MBNA refusing me.

Can someone give me a simple reason as to why i was turned down three times? I pay the min bal every month on my credit card. I had referral fees on my acc recently as there was no money to pay certain DD's such as sky etc but i did pay in the end, does this give you a bad credit rating? Also by getting refused a new CC three times does this also affect my credit rating?

Sorry for the long post but i would be just worried when going for a mortgate in the future that i would be a major risk to a bank given the refusals for credit cards etc.

Jockey

lotsofthegreen

jockey#1 wrote: »

Hey,

I have a balance of about €1.5k on my halifax credit card which as everyone knows they will be shutting up shop soon.

With this in mind i applied for a BOI card, then MBNA and then AIB, they all turned me down. That was based on me working, since then i have lost my job so i am now unemployed to add to the above.

I know people are saying that if you cannot repay halifax they will convert to a loan, this is all fine but it depends on what interest they will be charging. This is why the MBNA card would have been ideal as there was 10 months interest free on balance transfers however other people would say i have had a lucky escape by MBNA refusing me.

By the way, if your balnce is converted to a loan, u'll be paying less interest than you are now - definitely no more
Can someone give me a simple reason as to why i was turned down three times? I pay the min bal every month on my credit card. I had referral fees on my acc recently as there was no money to pay certain DD's such as sky etc but i did pay in the end, does this give you a bad credit rating? Also by getting refused a new CC three times does this also affect my credit rating?

Sorry for the long post but i would be just worried when going for a mortgate in the future that i would be a major risk to a bank given the refusals for credit cards etc.

Jockey

By applying so often It could affect your credit rating but in my opinion it shouldn't. if you have to provided 3 months bank statements, it'll be from the last 6 months. so send them the best 3 month consecutive period

Try Tesco Personal Finance at www.tesco.ie you can apply online

if your balance is converted to a loan, you wont pay any extra interest - the same rate at the worst

Jet Black

jockey#1 wrote: »

Can someone give me a simple reason as to why i was turned down three times? I pay the min bal every month on my credit card.
I had referral fees on my acc recently as there was no money to pay certain DD's such as sky etc but i did pay in the end, does this give you a bad credit rating?

It does yes.

jockey#1 wrote: »

Also by getting refused a new CC three times does this also affect my credit rating?

It wont affect your credit rating but when the underwriters check the Irish credit bureau it will show BOI checked your credit on xx/xx/xxx, MBNA checked on xx/xx/xxxx and AIB checked on xx/xx/xxxx. Banks wont know what product you applied for though. Underwriters may have to take this into consideration.

If your now unemployed you wont be given a credit card as you need to have a regular income.