Rejected Credit Card applications

Too many credit searches can have a bad effect on your credit score. how many have you had in the last 12 months?

If you have a large balance(Although you have reinvested it) you could be over committed income wise.

| Too many credit searches can have a bad effect on your credit score. how | many have you had in the last 12 months?

I'm not exactly sure although I'd guess around 6. I'm hoping that the Experian reporting service will show this.

Not being on the electoral register, long periods of unemployment and moving between rented properties frequently can effect your credit rating.

Also, if they expect you to take an interest free loan from them and invest it in an interest paying account elsewhere, with no prospect of other business, you should not be so surprised when they reject the idea.

I can't imagine 6 being that much of a problem, it could be something as small as having high Credit card balances (they wont know what you did with the funds) would eat into available income, and maybe you dont have enough.

| I can't imagine 6 being that much of a problem, it could be something as | small as having high Credit card balances (they wont know what you did with | the funds) would eat into available income, and maybe you dont have enough.

How exactly is it determined what is the correct amount of 'available income'? Is there some sort of formula which is used to work out how much an individual should be spending and saving to be credit worth?

Will vary from company to company I suppose. But a previous one I worked for would take your basic salary (say £25k), look at the net monthly figure (£1500). Look at your outgoings.

EG Mortgage payment £550 Loan Repayment £125 Credit Card £350 (£7000 balance at 5% monthly) Council Tax £100 Any other regular outgoings, DD's, Gym memberships etc,

Total it all up and if you are within 60% of your net income you can afford it, if you are above, you can'

Now different companies will include different outgoings, some may not use Direct Debits, some may not include other balances, some may use a higher percentage than 60%. But you get the principle.

I like it, write as you speak. Your vernacular uses a glo'al stop, I presume.

| Now different companies will include different outgoings, some may not use | Direct Debits, some may not include other balances, some may use a higher | percentage than 60%. But you get the principle.

I've calculated outgoings, which workouts out to around 35 - 40% of my net pay. I guess I'll have to wait until I get my credit report is available. There must be something there to explain.

One more question: How are do corporate cards affect ones credit rating?

Although I got 2 B's at GCSE level English, it was never my strong subject. Not sure if you are complimenting or insulting...I presume the latter :-)

Oh, so you did have a strong subject, then. -- Insulting? Moi?

If, when they told you to dot your 'i's and cross your 't's, they failed to explain this didn't mean crossing your 't's *out*, how can that be

:-)

Nope, you've lost me. A laymans explanation if you please :-)

And yes I do have strong subjects, Masters degree in psychology, CeMap, FPC(done a number of years ago). I'm a thinker, not a writer :-)

Crossing your Ts out was meant to allude to leaving them out.

Masters? They come in two varieties, don't they? One is a kind of "wooden spoon" they give to someone not totally useless but not quite good enough for a PhD, and the other is a 1-year conversion course from a Bachelor's degree in a different discipline. In the case of psychology, that might be basket-weaving, for the obvious reason that psychologists spend a lot of time with basket cases.

Those don't involve thinking, do they? Just following a mental flowchart. Anyway, with all the regulation these days, you've got to document everything, so you *need* to be much more of a writer than a thinker.

Still, it could be worse. You could have done an MBA.

Joking aside, psychology seems an odd background for a finance person. How did that come about?

What did he do wrong? Say "can' instead of can't"? You two give each other your email addresses and carry on with your flame war somewhere else!

Brian

My fingers work faster than my brian, and my fingers think they can type, but they are dsylexic, they just dont know it, so quite often they make mistakes, or get the letters jumbled up, which can get past a spell checker. Or they hit send before I hit spellcheck :-)

Some scottish universities Like Dundee, where I went offer Masters as a first Degree.

Psychology is what I wanted to do. But there is no cash in it. Assistant psychologist, at one of scotlands leading psychiatric prisions (my field) paid less than most low end jobs.

Can work to the advantage, Body language, reading signs from people etc.

Just some harmless banter

In the oldest universities, you progress to your Masters after a qualifying number of terms, provided you pay your fees and get round to taking it, either in person or "in absentia".

Dundee was founded circa 1847 If I remember correctly. 4 year honours course. Cheap beer too :-)

"Phil Deane" wrote

A new one then!

The 4 year honours course arises from the fact that the kids leave school a year earlier in Scotland so they end up doing the same stuff in their first year at uni as kids in an English school do in their last year at the 6th form.

So it's not particularly effective for a kid from an English school to go to a Scottish university because topics are repeated.

DG