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  • FIRST POST
    • TheShape
    • By TheShape 4th Nov 17, 5:13 PM
    • 1,113Posts
    • 868Thanks
    TheShape
    Lloyd's Credit Card Application
    • #1
    • 4th Nov 17, 5:13 PM
    Lloyd's Credit Card Application 4th Nov 17 at 5:13 PM
    It has been suggested that before making an application for a Lloyd's credit card it is worth talking to someone in branch as they can usually see on their system/your customer records whether you are eligible. I had reason to be in branch last week and asked about the possibility of obtaining a card. The cashier said that I would be eligible with a credit limit of £4000 and 'did I want an appointment to complete an application?'.

    I was about to apply online today but thought I'd have a quick check of my eligibility with the MSE eligibility checker which stated that Lloyd's have supplied details of their current account holders to aid with eligibility checking. Result came back 0% chance for all Lloyd's cards and most others. The eligibility checker on the Lloyd's site also indicated that I am ineligible.

    ps. I've posted here as although this is related to stoozing, that thread sub forum is not visited often.

    I do hold 7 cards already (only 1 with Lloyd's banking Group) with available credit in excess of my income and a balance of around 75% of my income.

    Is their in branch/customer record system likely to give the best indication of acceptance?

    I'll add that a previous declined application resulted in no credit check being done which suggests tht at least some decisions are made without reference to or at least a full check with the CRAs.

    I could do with another 0% BT card to rebuild my stooz pot (it's dimished since earlier in the year) and currently have an offer from MBNA which will allow me to do so.
Page 1
    • jonesMUFCforever
    • By jonesMUFCforever 4th Nov 17, 10:52 PM
    • 24,185 Posts
    • 11,458 Thanks
    jonesMUFCforever
    • #2
    • 4th Nov 17, 10:52 PM
    • #2
    • 4th Nov 17, 10:52 PM
    The in branch information (same in internet banking) is subject to a credit check - pass that and you should have no problem.
    What goes around - comes around
    give lots and you will always receive lots
    • Rich7111
    • By Rich7111 6th Nov 17, 9:54 AM
    • 50 Posts
    • 37 Thanks
    Rich7111
    • #3
    • 6th Nov 17, 9:54 AM
    • #3
    • 6th Nov 17, 9:54 AM
    Don't pay too much attention to the Checker, I tried both MSE and Lloyds checker both came back as 0% and not eligible, I do have 2 very old defaults (dropping off this month) and one from 2013 (settled) but wanted to try and clear some of my Sub Prime cards so I just went ahead and applied. I was approved and with a very high credit limit (although the APR was 27%) I still got 18 months 0% balance transfer.

    So don't worry too much about the eligibility checker, to be honest I can't remember when they have ever been right for me, they claim I had a 95% chance of a card and was rejected, and they have said 0% for LLoyds, Bank Of Scotland and Barclaycard and all have given me cards with over £5k in credit limits.

    Go ahead, apply in branch or online
    • Candyapple
    • By Candyapple 6th Nov 17, 11:43 AM
    • 2,481 Posts
    • 1,851 Thanks
    Candyapple
    • #4
    • 6th Nov 17, 11:43 AM
    • #4
    • 6th Nov 17, 11:43 AM

    Is their in branch/customer record system likely to give the best indication of acceptance?
    Originally posted by TheShape
    This is just from my experience - I currently hold 2 credit cards one with Halifax and one with Lloyds. I too went into a branch and enquired about limit etc and was shown what that limit would be on their screens. I then went home and applied online (I think there was cashback available at either Quidco or TCB for doing so) and was accepted for the card I applied for and the limit was exactly the same as what I had been shown in branch. I have done this twice with Halifax and Lloyds and both times the limit has matched what I was shown in branch.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • TheShape
    • By TheShape 6th Nov 17, 12:56 PM
    • 1,113 Posts
    • 868 Thanks
    TheShape
    • #5
    • 6th Nov 17, 12:56 PM
    • #5
    • 6th Nov 17, 12:56 PM
    This is just from my experience - I currently hold 2 credit cards one with Halifax and one with Lloyds. I too went into a branch and enquired about limit etc and was shown what that limit would be on their screens. I then went home and applied online (I think there was cashback available at either Quidco or TCB for doing so) and was accepted for the card I applied for and the limit was exactly the same as what I had been shown in branch. I have done this twice with Halifax and Lloyds and both times the limit has matched what I was shown in branch.
    Originally posted by Candyapple
    When asked what limit would be useful to you, did you enter the same amount as indicated in branch?
    • Candyapple
    • By Candyapple 6th Nov 17, 2:01 PM
    • 2,481 Posts
    • 1,851 Thanks
    Candyapple
    • #6
    • 6th Nov 17, 2:01 PM
    • #6
    • 6th Nov 17, 2:01 PM
    When asked what limit would be useful to you, did you enter the same amount as indicated in branch?
    Originally posted by TheShape
    I probably would have rounded it up to the nearest thousand (as in my limit given in branch was £6.5k and I would have asked for £7k).
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • starM
    • By starM 6th Nov 17, 7:39 PM
    • 1,301 Posts
    • 176 Thanks
    starM
    • #7
    • 6th Nov 17, 7:39 PM
    • #7
    • 6th Nov 17, 7:39 PM
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.

    MSE eligibility checker is only accurate if you apply for a credit card with the bank who you don't already hold a bank account with.
    • TheShape
    • By TheShape 6th Nov 17, 11:02 PM
    • 1,113 Posts
    • 868 Thanks
    TheShape
    • #8
    • 6th Nov 17, 11:02 PM
    • #8
    • 6th Nov 17, 11:02 PM
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.
    Originally posted by star25M
    I'm not sure what I'm looking for?

    MSE eligibility checker is only accurate if you apply for a credit card with the bank who you don't already hold a bank account with.
    Originally posted by star25M
    That will make it rather inaccurate for me.
    • Somerset La La La
    • By Somerset La La La 7th Nov 17, 4:12 PM
    • 439 Posts
    • 122 Thanks
    Somerset La La La
    • #9
    • 7th Nov 17, 4:12 PM
    • #9
    • 7th Nov 17, 4:12 PM
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.
    Originally posted by starM
    Wow their source code is an absolute mess. At least Nationwide is easy to see!

    I cant find it either on 1st or 2nd page. Clicked through to the 2nd page (one before the credit search, where you consent to data sharing etc) and searched the code for decline (since that what it'll be....) and nothing appeared.
    Ex-Bankrupt, Discharged 09/2015
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    Rebuild for Mortgage (10/2018)
    • starM
    • By starM 7th Nov 17, 9:42 PM
    • 1,301 Posts
    • 176 Thanks
    starM
    Wow their source code is an absolute mess. At least Nationwide is easy to see!

    I cant find it either on 1st or 2nd page. Clicked through to the 2nd page (one before the credit search, where you consent to data sharing etc) and searched the code for decline (since that what it'll be....) and nothing appeared.
    Originally posted by Somerset La La La
    I think the way it works - when you view source code it will tell you if it is "Guaranteed credit card offer". If it does then no credit check will be applied.

    If it says "Credit card application" then it is not guaranteed offer however when you submit application full credit check will be carried out.
    • starM
    • By starM 7th Nov 17, 9:49 PM
    • 1,301 Posts
    • 176 Thanks
    starM
    That will make it rather inaccurate for me.[/QUOTE]

    This is because MSE or Lloyds eligibility checker does not take into account the history and running of your Lloyd's account. Your Lloyds accounts creates a risk band and depending on your internal score you are offered the facility.

    See some old forums regarding this http://forums.moneysavingexpert.com/showthread.php?t=4156561

    If you close your Lloyds account and then apply for Lloyds credit card then your application more likely be declined.
    • 20aday
    • By 20aday 8th Nov 17, 7:56 AM
    • 2,061 Posts
    • 867 Thanks
    20aday
    If I remember rightly Lloyds Bank have 1-10 (one being the 'best') and CPD meaning credit policy decline (or words to that effect).
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • TheShape
    • By TheShape 8th Nov 17, 9:21 AM
    • 1,113 Posts
    • 868 Thanks
    TheShape
    I will get around to applying for this card by the end of the week and will update with the result.

    While making a payment in the app yesterday, a 'you are highly likely to be accepted for a credit card' message was displayed.
    • zerog
    • By zerog 9th Nov 17, 7:36 AM
    • 2,302 Posts
    • 782 Thanks
    zerog
    Hmm, no credit check with Experian was carried out when a branch staff told me I was guaranteed a CC back in 2011 and I subsequently applied online.

    But I applied for another Lloyds CC in October, and the eligibility checkers all said yes, and I got the limit I asked for (should have asked for more!) but an Experian search was recorded.

    I've had a Lloyds current account since 2009
    • EachPenny
    • By EachPenny 9th Nov 17, 11:55 AM
    • 2,907 Posts
    • 5,259 Thanks
    EachPenny
    It has been suggested that before making an application for a Lloyd's credit card it is worth talking to someone in branch as they can usually see on their system/your customer records whether you are eligible. I had reason to be in branch last week and asked about the possibility of obtaining a card. The cashier said that I would be eligible with a credit limit of £4000 and 'did I want an appointment to complete an application?'.
    Originally posted by TheShape
    I had the same thing when I went to a Lloyds branch a couple of weeks ago. I just asked about eligibility in passing and was told they could check on the system. The answer was 100% guaranteed. I queried this, but was assured there would be absolutely no problem. Made an appointment to go back later.

    The appointment lasted 2 minutes - the first question was 'what do you do for a living?'. Despite Lloyds knowing my employment status and income (I was shown it on the screen) what they accept as income for credit card purposes is more limited. Employment, pension, property or benefits counts. Savings and investment income doesn't.

    I was told that they need the customer to have a regular income to repay borrowings. When I pointed out to the CSA that her 'regular' salary might stop at any time, whereas my income will only fail if there is a total banking meltdown, it was explained that the latter was a possibility they had to consider

    I didn't waste my time pointing out if the latter happens then the former was very likely too, and would probably happen first

    So don't believe the 100% or 'very likely' claims... it is still subject to application and checks.

    Hope you are more successful
    "In the future, everyone will be rich for 15 minutes"
    • jonesMUFCforever
    • By jonesMUFCforever 9th Nov 17, 6:20 PM
    • 24,185 Posts
    • 11,458 Thanks
    jonesMUFCforever
    You mean a banking meltdown such as happened in 2008 when Lloyds Bank lost 90% of its value and shareholders had no dividends for 8 years?

    Things like this can and will happen however 'safe' you think your investments are.
    What goes around - comes around
    give lots and you will always receive lots
    • EachPenny
    • By EachPenny 9th Nov 17, 8:59 PM
    • 2,907 Posts
    • 5,259 Thanks
    EachPenny
    You mean a banking meltdown such as happened in 2008 when Lloyds Bank lost 90% of its value and shareholders had no dividends for 8 years?

    Things like this can and will happen however 'safe' you think your investments are.
    Originally posted by jonesMUFCforever
    Of course, but the income I'm talking about is from FSCS protected savings deposits. If we get to the point that is lost then it will be because of a banking meltdown orders of magnitude greater than 2008. At that point I'm pretty sure Lloyds wouldn't be that bothered about recovering a £100 credit card debt. On second thoughts....
    "In the future, everyone will be rich for 15 minutes"
    • TheShape
    • By TheShape 11th Nov 17, 5:09 PM
    • 1,113 Posts
    • 868 Thanks
    TheShape
    Successful Application
    Applied successfully for the 33 mth 0% BT card. 0.57% BT fee but the £20 cashback will cancel much of that out.

    In branch indication of credit limit was £4000 so I put £5000 in the 'What limit would you find useful' box. Actual limit offered was £6450. Will BT balance from my Nationwide card and make use of the latest no-fee MT offer from MBNA to fill to the limit.
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