Why can't my partner get credit?

Q My boyfriend has a regular job with a decent salary, he has an overdraft and a credit card like most people, but on applying for loans or new credit cards, he is often refused.

He did obtain his credit rating from Experian but we were unable to see what the obvious problem was. Who can explain what it all means? Can the information be changed or updated?

A It is extremely irritating to be turned down by a credit card for no apparent reason, especially when you have been sold the benefits of that particular card.

I know from personal experience since I was turned down by American Express after being bombarded with sales letters, which are still continuing. I didn't get very far with my investigation as to why I was turned down.

However I received a strong hint from one credit card company that they often turned down applicants because they were too good at paying their bills. To make money, credit card companies like people who don't settle up promptly, rather they prefer customers who become liable to pay the punitive rates of interest, from which they make large profits. They lose money on giving free credit to people who settle up promptly.

Credit card companies are also trying to clamp down on people who switch cards frequently to take advantage of the transfer periods during which no interest is charged. They are, in effect, being hoist by their own petard - offering free interest periods in the hope of capturing gullible borrowers who are then charged penal rates.

If there is any wrong information on the Experian records you can demand changes to be made.