Paging any Barclays experts...

Extant

moneysavingallday wrote: »

Barc Man, do you have a Barclays Premier account?

Not anymore. I used to have the Premier Life account when the proposition first rolled out, but I've switched it to another account since then.

Why do you ask?

moneysavingallday

I was just wondering whether the Premier Life is any good.

Extant

moneysavingallday wrote: »

I was just wondering whether the Premier Life is any good.

As with all these paid for accounts, they're only worth it if you use or would use the features it provides. There's a lot in there, so it's worth sitting down with either the website or a brochure from the branch, and seeing what you would actually use, or what might save you money (interest free overdraft etc.)

moneysavingallday

Barclays Manager, what factors do Barclays take into account in offering a customer pre-approved limits from time to time? How does all of that work. Presuming I handle this account extremely well - what sort of things might I be offered in 3 months or so?

Extant

moneysavingallday wrote: »

Barclays Manager, what factors do Barclays take into account in offering a customer pre-approved limits from time to time? How does all of that work. Presuming I handle this account extremely well - what sort of things might I be offered in 3 months or so?

As much as I love my job, I do sometimes regret moving into risk, since it's sodding complicated and an absolute pain to deal with most of the time.

For a really simplified answer, we're going to look at account credits (how much you get paid) and account debits (how much you spend).

How much you get paid is going to affect what you can afford to repay, and so is how much you spend. We look at the ratio between income to expenditure. In simple terms, if you pay in £10,100 and only spend £100, we'd likely agree a £10,000 loan.

We're going to look for no unauthorized borrowing, no reserve fees, no unpaids etc. On top of all this there's a bunch more stuff that we consider (or rather the computer considers) and we pull batch credit files, as well.

moneysavingallday

BarclaysManager wrote: »

As much as I love my job, I do sometimes regret moving into risk, since it's sodding complicated and an absolute pain to deal with most of the time.

For a really simplified answer, we're going to look at account credits (how much you get paid) and account debits (how much you spend).

How much you get paid is going to affect what you can afford to repay, and so is how much you spend. We look at the ratio between income to expenditure. In simple terms, if you pay in £10,100 and only spend £100, we'd likely agree a £10,000 loan.

We're going to look for no unauthorized borrowing, no reserve fees, no unpaids etc. On top of all this there's a bunch more stuff that we consider (or rather the computer considers) and we pull batch credit files, as well.

Thanks BM. What are 'batch' credit files? That's interesting re the no reserve fees as i get the impression a lot of Barclays customers dip into this personal reserve thing. I don't even think Barclays have given me a personal reserve yet.

So_Sad_Angel

BarclaysManager wrote: »

How much you get paid is going to affect what you can afford to repay, and so is how much you spend. We look at the ratio between income to expenditure. In simple terms, if you pay in £10,100 and only spend £100, we'd likely agree a £10,000 loan.

quote]

HI BM....guess that would be the FHR then....how wrong can they be !!!!!

I`ve seen pre approved limits based on these things that stretch the `we are a responsible lender` term to the extreme to say the least!!!

Angiexx....never ever, ever believe what you see on a financial history report!!!! (first rule of risk)

Extant

So_Sad_Angel wrote: »

HI BM....guess that would be the FHR then....how wrong can they be !!!!!

I`ve seen pre approved limits based on these things that stretch the `we are a responsible lender` term to the extreme to say the least!!!

Angiexx....never ever, ever believe what you see on a financial history report!!!! (first rule of risk)

I'm assuming you work in Barclays, otherwise some of this might sound like gibberish...

ERA limits and the like are far, far from perfect. They're a nightmare, in fact. Our primary job is to get them to work 90% of the time and let GCR pick up the rest. Unfortunately that 90% goes both ways.

Most of the characteristics are based off entries as opposed to FHR - and if you look at FHR on AOR3/4 or CM, you'll know how rubbish it is at dealing with savings accounts etc.

Back in the day of Area Lending Teams and lending officers, they used to look at FHR, RP bal, etc. but it's now rarely used for that. It's supposed to be used by A-COMs to ensure adequate DEC for sellers, but I doubt that most of the time.

When limits don't exist or there's an appeal based off a change in circumstances around existing limits, all GCR really do is look in a book with all the decline reason codes. Then there's a list of acceptable appeals for that reason code, etc.

As for responsible lending, we have to rely on the sellers to actually make the call as to whether it's responsible. It's in the sales standards, and they're given the B3 grade as some indication of responsibility, too.

moneysavingallday

BarclaysManager wrote: »

I'm assuming you work in Barclays, otherwise some of this might sound like gibberish...

ERA limits and the like are far, far from perfect. They're a nightmare, in fact. Our primary job is to get them to work 90% of the time and let GCR pick up the rest. Unfortunately that 90% goes both ways.

Most of the characteristics are based off entries as opposed to FHR - and if you look at FHR on AOR3/4 or CM, you'll know how rubbish it is at dealing with savings accounts etc.

Back in the day of Area Lending Teams and lending officers, they used to look at FHR, RP bal, etc. but it's now rarely used for that. It's supposed to be used by A-COMs to ensure adequate DEC for sellers, but I doubt that most of the time.

When limits don't exist or there's an appeal based off a change in circumstances around existing limits, all GCR really do is look in a book with all the decline reason codes. Then there's a list of acceptable appeals for that reason code, etc.

As for responsible lending, we have to rely on the sellers to actually make the call as to whether it's responsible. It's in the sales standards, and they're given the B3 grade as some indication of responsibility, too.

Can we have all this in normal English please? We don't all work at Barclays:rotfl:

So_Sad_Angel

You are correct in many assumptions there BM..

Where I agree the computer generated `answer` is based on ERA (electronic limits)& a range of computer based info, ...I must admit that the `old school` of properly assessing a case , knowing your client & using more than just the computer to come to a lending decision would offer the Bank a stronger `safety net` to avoid bad debt rather than lending where it is just the computer generated output. I guess its the `cut costs & leave it up to the computer` brigade rule in the real world these days..

Still I`m out of it now thankfully but having worked at higher level I can appreciate what the sellers are going through right now .

Great to meet you on here anyway!!

Take care, Angiexx