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Trouble With Credit Applications

Many people new to the UK or with no previous credit record struggle with credit applications for important services and loans.

PRLog - Oct. 30, 2012 - With the economic climate remaining challenging across the whole of Europe, many skilled workers in search of jobs in the UK are hitting a brick wall when it comes to obtaining credit. Despite many having full time (even highly paid) jobs, being accepted for credit facilities such as loans, mortgages or credit cards depends on having an established credit record in the UK.

For those who are new to the UK, or have simply never needed to obtain credit before, this can lead to a confusing situation where despite have ample income, applications for credit facilities are turned down by lenders. In many cases the applicant will immediately try to re-apply, thinking there is some sort of error or mistake, but this is exactly the wrong thing to do: each time credit is applied for a check is made on a credit file. Numerous checks in a short space of time will reduce this score and rejections will also damage a credit score, making it even more unlikely a credit application will be successful.

Unless an applicant fully understands the reasons why their application has been rejected and the implications this has for their credit record, this can easily get a new credit file off to a very bad start and sabotage chances for securing loans for cars, homes or cheaper borrowing. Fortunately, there is a website which sets out common problems and issues about credit difficulties, especially for those looking for first time credit cards.

Created by Vanquis, which specialises in providing credit cards to people who would normally struggle with successful applications to high street banks, http://www.oneminuteresponse.co.uk is designed to give a no-nonsense explanation of how credit is calculated, what issues can affect credit score and how this can be improved. Visitors to the site can also use the online application form for the specialist cards on offer (designed for people who may have credit issues preventing them from being accepted for other cards) and expect to receive a quick response as to whether they can be assisted by any of the products featured.

One Minute Response stresses that only by careful and responsible use of credit cards can a credit score be improved, however with more people unaware they fall into a category that could cause issues with a credit application, having some expert information before an application might make the difference between a successful and unsuccessful request for credit.

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Tags:credit issues, credit report, first time credit, credit advice, credit cards
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