Applying credit card

finnteme

What are the general requirements for applying credit card.
I applied 1 month ago, and got denied.
Earning 33k per year, permanent contract since 2 years, BOI customer 11 months, no other loans or credit cards. Living in the same address past 4 years. Registered as voter in my current address.

My weekly salary goes to my BOI account.

Seems little strange that i get denied. I normally would not need the credit card, but it would be handy when renting a car etc abroad.

Is there anyway i can appeal to this decision?

Bank of Ireland: Linda

Hi finnteme,

Thank you very much for your query, I am going to double check this for you and will get back asap.

Thanks
Linda

KoolKid

I was told by BOI before its the banks policy not to discuss loan/credit refusals.
Has this policy now changed?>

cookie1977

While maybe it wont help BOI will launch the visa debit card soon which for all intensive purposes can behave like a credit card although you have to have funds in the account, so you should be able to use it abroad too.

finnteme

cookie1977 wrote: »

While maybe it wont help BOI will launch the visa debit card soon which for all intensive purposes can behave like a credit card although you have to have funds in the account, so you should be able to use it abroad too.

Yes, i know that, put when renting a car etc, Visa Debit is not accepted widely, and companys usually put a hold to the money, that is not released until later etc. Visa Debit is not so handy for this purpose.

Bank of Ireland: Linda

Hi finnteme,

A credit card application is done on a case by case basis; it is never one thing alone that determines the outcome of an application for credit. The decision is made by looking at all details of the application in order to protect you as a customer.

There are basic requirements that you have to have in place around age, income, employment and financial history. There are also other things that are considered including a customer's repayment capacity and evidence of good account management. There are also some key pieces of documentation and information that may be required to support an individual application for credit - again, it is never jut one thing and it is difficult to assess your decline without specific detail.

You are welcome to appeal the decision, please contact your local branch and they can appeal it on your behalf.

I hope this helps.
Thanks
Linda

finnteme

Bank of Ireland: Linda wrote: »

Hi finnteme,

A credit card application is done on a case by case basis; it is never one thing alone that determines the outcome of an application for credit. The decision is made by looking at all details of the application in order to protect you as a customer.

There are basic requirements that you have to have in place around age, income, employment and financial history. There are also other things that are considered including a customer's repayment capacity and evidence of good account management. There are also some key pieces of documentation and information that may be required to support an individual application for credit - again, it is never jut one thing and it is difficult to assess your decline without specific detail.

You are welcome to appeal the decision, please contact your local branch and they can appeal it on your behalf.

I hope this helps.
Thanks
Linda

Thank you, will pop in to my local branch for an appeal with lots of supporting documents

Bank of Ireland: Linda

Hi KoolKid,

The policy regarding loans/credit refusals is still the same. The OP was in relation to what criteria a customer would need to apply for a credit card and how to appeal the decision. We would make this information readily available to customers when applying for a credit facility.

Thanks
Linda

KoolKid

Thanks Linda, but there is an appeal procedure?
I was given the impression decisions are final & without any further discussion.

Bank of Ireland: Linda

Hi KoolKid,

Yes, there is an appeals procedure; it is done through the branch. You would need to provide extra information, like saving account information with another financial institution, so we can review the application.

I am sorry that you were not advised that this is the case.

Thanks
Linda

KoolKid

Many thanks for the clarification Linda.

peterjohn12

If you are going to apply for a credit card .There are some basis details you need like your name, address ,date of birth and work details. Then credit card company will check that how trustworthy you are financially, and whether it would be a safe investment to lend you the money or not. Then bank will ask you for your diving license details, criteria, details of your outgoing.
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eCommerce credit card processing

Bank of Ireland: Linda

Hi all,

Just to confirm that peterjohn12 is correct that you would need your personal details on hand to apply for a credit card and then our underwriters would have a look at the details before an offer letter is sent.

Thanks
Linda