James
Hi, I've been turned down on a credit card application (Smile Bank). I have reviewed my report and score (999) and cant see anything wrong, is this common?
Victoria, Abergavenny
Victoria,
While a high Experian Credit Score shows that your credit report is in great shape, it is still no guarantee that you will get credit. This is because lenders’ scores also take account of other information, such as the credit histories of your financial associates (anyone you have linked up your finances with), information you gave them on your credit application form (such as your job and wages), and information they have about you already if you’ve been a customer in the past. A lender can refuse an application simply because you don’t fit the profile of customer they are looking for at that moment in time. Importantly, only the company that refused your application can tell you the reason why. It’s always worth asking because it might give you clues on how you can improve your creditworthiness even further.
James