UK consumers could be declined a credit card if they are not deemed profitable by providers, according to a financial expert.Justin Modray of candidmoney.com claimed that credit cardholders who pay off their monthly balance in full could be rejected by banks as they will not have to pay interest on their account.He said: "If your credit history is OK then the usual reason for being declined for a credit card is that the card company doesn't view you as being profitable."For example, if you repay your balance in full each month they’ll make very little money out of you."Mr Modray advised consumers to go to one of the main three credit agencies - Callcredit, Equifax and Experian – and check out their credit history to ensure all the information is correct.His comments came as comparison website confused.com launched a new credit card checker tool which will allow customers to calculate their chances of being accepted for a specific credit card before making a full application.Posted by Charles BakerCharles is a reputed financial analyst with almost decades of experience under his belt
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated
claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk/search.aspx
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233,
whose head office and registered office is at Suite 2, Unit 25, The Coda Centre,
Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office. Registration number Z1728023
and holds a Credit Consumer License issued by the Office of Fair Trading license
Please note that calls may be recorded and email traffic monitored for the purposes
of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are
no upfront costs to pay. Our fee only becomes payable on a successful outcome of
a claim. A cancellation fee is payable if you decide that having instructed Belmont
Thornton to act on your behalf, and after 14 days of signing your Letter of Authority,
you do not wish to continue pursuing your claim with us. The cancellation fee is
the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described