barclaycard approval process

[spriggit82]

Hi,

I checked my barclays bank account this morning and it said that I had been preselected for a barclaycard classic with 0% balance transfer. I done the application and put in the amount I wanted transferred £400- have a vanquis card I want to get rid of asap, and it come up that they have to look at more information and will be in touch within 5 days. Does this mean I have been declined? I checked the criteria and I was ok for all of it. Has anyone else had this and still been approved. I got the Vanquis card in June and have payed on time every month.

Many Thanks

[immoral_angeluk]

Basically you've be 'preselected' to be invited to apply for a barclaycard. Much different to being 'preapproved'. Essentially you've gone through the normal application process and been referred, so will receive your decision in 5 days once it's been reviewed by the underwriters. You've got a 50/50 chance basically.

[KingElvis]

I would assume the Vanquis is your first card?

If so, you've only had it since June, so at best, you'll have a maximum of two months history showing and you've (insanely) run up a balance on it already. At 59.9% or something was that wise?

If your account conduct with Barclays is good you may be ok but like above, it's 50/50.

Good luck but if you do get declined, for God's sake pay off that Vanquis balance asap.

[spriggit82]

hi

vanquis is my first card since my iva completed last year. I used to have credit card / loan prior to my IVA. I have a balance on it due to my car falling apart! (cost me money that I didnt have at the time) have a holiday coming up next month so did not pay the balance in full. The reason I want to be accepted on the barclaycard is so i can transfer the balance, close the vanquis card and then pay off the barclays balance in full on return from my holiday. Barclays sent me the message to say that I can apply so they must have done some preliminary checks....???

[stephane]

You would have been pre-selected probably because of your account conduct with them, their internal scoring. They would not do any check without your prior authorisation this is why yu have to formally apply and consent for them to search your credit file with Experian or Equifax. Now that you have apply they will check your credit history and as previous have said you have a 50/50 chance, but if your credit history is limited to a couple of months with Vanquis then your chances are still very slim

[immoral_angeluk]

If you've recently finished an IVA it's unlikely you'll be accepted for mainstream credit...

[spriggit82]

Ive just rang barclays to find out if they mean ive been declined and they said that it had been reffered to their applications department. I asked whether it was the address that was causing the issue as I live in a flat and it repeated the house / flat number when i completed the application. I also didnt know what date to put how many years I have had my account for as it was an old woolwich account that was transferred....

What I dont understand is why they flag up that I have been pre selected for a credit card and then refer it when you apply. all my iva and old credit comes off my credit report next month....

If It hadnt of popped up I wouldnt have bothered. Just thought the 0% balance transfer would help me get rid of the vanquis card..

[izools]

[QUOTE=spriggit82;45912847]I have a balance on it due to my car falling apart! (cost me money that I didnt have at the time) [QUOTE]

What would you have done without your card

[chanz4]

I would of waited a month for the IVA to clear, been honest it will be a decline

[spriggit82]

[QUOTE=izools;45923239][QUOTE=spriggit82;45912847]I have a balance on it due to my car falling apart! (cost me money that I didnt have at the time) [QUOTE]

What would you have done without your card[/QUOTE

hiya,

i would have been completely stuck if i didnt have my card as i use my car for work and cant afford to get another one yet. Its the only thing ive used the card for, unfortunately it was for a large amount.

I wish barclays would have just declined me straight away then I know. Just want to build my credit rating as quick as i can!

[Aparat]

Couldn't be you address because my fiancee( she put flat number as well as house number) applied for Initial on Thursday and received it on Saturday ( just 2 days wow)

[MoneyWasting Expert]

Reading posts like these just make feel really blessed that I have two Barclaycards now used and paid in full. There the only two accounts that were not defaulted on yet I would have no hope in hell of being accepted for these products right now.

Added note and sorry to hijack the thread, I shoudl of posted this in debt free forums, but this is the first period in my life throughout my 20's (now 29) that I have not been charged interest on borrowing. CC paid off just 2 creditors to knock out (dont charge me interest) and debt free

[izools]

Originally Posted by spriggit82

i would have been completely stuck if i didnt have my card as i use my car for work and cant afford to get another one yet

This should be screaming out to you and clanging enourmous bells in the back of your mind...

If this is the case, you're still living beyond your means. That is exactly what gets people into IVAs and Bankruptcies in the first place.

Since I was discharged from bankruptcy there were no circumstances or eventialities I couldn't have handled without a credit card - not because of income; I've found myself in and out of contract work for the last few years, I'm starting my first permanent job in 3+ years on September 17th.

It's because I adjusted my lifestyle to remain within my means.

Methinks you haven't quite got there yet. Keep aiming, or you'll be calling an IP again in a couple of years...

[MoneyWasting Expert]

Originally Posted by izools

This should be screaming out to you and clanging enourmous bells in the back of your mind...

If this is the case, you're still living beyond your means. That is exactly what gets people into IVAs and Bankruptcies in the first place.

Since I was discharged from bankruptcy there were no circumstances or eventialities I couldn't have handled without a credit card - not because of income; I've found myself in and out of contract work for the last few years, I'm starting my first permanent job in 3+ years on September 17th.

It's because I adjusted my lifestyle to remain within my means.

Methinks you haven't quite got there yet. Keep aiming, or you'll be calling an IP again in a couple of years...

Congrats on the new job

[spriggit82]

Originally Posted by izools

This should be screaming out to you and clanging enourmous bells in the back of your mind...

If this is the case, you're still living beyond your means. That is exactly what gets people into IVAs and Bankruptcies in the first place.

Since I was discharged from bankruptcy there were no circumstances or eventialities I couldn't have handled without a credit card - not because of income; I've found myself in and out of contract work for the last few years, I'm starting my first permanent job in 3+ years on September 17th.

It's because I adjusted my lifestyle to remain within my means.

Methinks you haven't quite got there yet. Keep aiming, or you'll be calling an IP again in a couple of years...

i dont think that this is the case at all. my rent has risen since i had my iva so i dont have as much free income that i would have done, i work in the middle of nowhere and need my car to travel to and from work, and the reason i cant afford a new one at the moment is because i dont have the cash to buy one - i would not get it on credit! i do live within my means and just so happened to have an incident with my car which i needed it fixed asap. i budget every month and my only debt is my vanquis card which the only reason i applied for the barclaycard was for the 0% interest to pay off my debt quicker. if i get declined i will pay the vanquis one off over a slightly longer period and be done with it. the only reason i got the card was to build up my credit rating.

yes i have learnt my lesson and have spent the last 5 years paying off 75% of my debt that i had and it was hard.I will never go down that road again.

im sorry if i sound angry but please dont judge me on this one thing.