BarclayCard Initial

TheEffect

I'm 18, poor credit rating as I have no credit history.

I applied for a Lloyds TSB Airmiles CC (Turned down) and a Capital One Classic CC (Turned down). My last resort was a BarclayCard initial.

I applied for one on Monday, however have heard nothing yet. I've checked my credit report on Experian just now and Barclays haven't done a credit search.

Why would this be, as most companies run a credit search when you apply and they appear instantly on your credit report.

When I applied online for the initial, it said 'Awaiting response' then 'We need more time, we'll write to you letting you know the decision. If you are accepted, you'll receive a card, if you're declined, we'll write and let you know'.


Why would they not have done a credit search?
If I ring them, would they be able to tell me if I was accepted or declined?
Also, I've seen two pages for the initial CC, one seas £3000 annual income and one seas £10000, I put £6500 on my application (which is what I'm earning), could they have turned me down instantly on my income and not do a credit search?

Thanks

enook77

There are 3 credit reference agencies. Experian, Equifax and Call Credit.

Some use 1,2 or all of the above. So it depends on the bank.

enook77

Also applying (and getting rejected) can have a negative impact on your credit rating, if the applications are all undertaken in a short time period.

cifpower

Barclaycard search Equifax which is why it does not show up on your Experian report. Be warned that too many searches in a short amount of time will affect your credit score. Why not try your bank as they have a history of you financially?

Cash_Flow

TheEffect wrote: »

I'm 18, poor credit rating as I have no credit history.

I applied for a Lloyds TSB Airmiles CC (Turned down) and a Capital One Classic CC (Turned down). My last resort was a BarclayCard initial.

I applied for one on Monday, however have heard nothing yet. I've checked my credit report on Experian just now and Barclays haven't done a credit search.

Why would this be, as most companies run a credit search when you apply and they appear instantly on your credit report.

When I applied online for the initial, it said 'Awaiting response' then 'We need more time, we'll write to you letting you know the decision. If you are accepted, you'll receive a card, if you're declined, we'll write and let you know'.


Why would they not have done a credit search?
If I ring them, would they be able to tell me if I was accepted or declined?
Also, I've seen two pages for the initial CC, one seas £3000 annual income and one seas £10000, I put £6500 on my application (which is what I'm earning), could they have turned me down instantly on my income and not do a credit search?

Thanks

Yes they can decline you on the basis of your application alone, Why would they incur the cost of a credit search if thay can allready tell what you have submitted on your application, that you don't meet the required criteria.

All the best;)

TheEffect

cifpower wrote: »

Barclaycard search Equifax which is why it does not show up on your Experian report. Be warned that too many searches in a short amount of time will affect your credit score. Why not try your bank as they have a history of you financially?

I was with Lloyds TSB for a few years. When I turned 18 (Last month), I applied for a credit card with them and they said no as my credit score was to low. They also refused to give me a standard adults current account as I wasn't earning enough (£6.5k).

I left them 3 weeks ago and moved to HSBC Plus. I haven't been with HSBC long enough to get a credit card with them. CapitalOne refused me I think due to the fact that I put my bank account as HSBC and account help for 2 months.

When applying for BarclayCard, I used my Lloyds TSB account number and sort code as I've been with them longer.

I've got 4 credit searches on my report within the last month (yer, I know that's terrible.).

• HSBC Current Account Search (Accepted)
• HSBC Overdraft Search (Declined)
• Lloyds TSB Credit Card Search (Declined)
• CapitalOne Credit Card Search (Declined)
• BarclayCard Initial Credit Card Search (Don't know where this is?)

Whether I get accepted or declined for the BarclayCard Initial, I'm not applying for any more credit for at least 6 months so that these credit searches are wiped off.

Should I ring Barclays or just wait a few more days (It's been 4 days)

moneysavingnoobie

i applied for a barclaycard platinum last week. Got the 'we need more time' reponse from them when i applied online. Checked equifax online and they had done the credit search, but still hadnt heard anything a week later.

Got home last night and the credit card was there waiting for me...... Also, recieved an email today saying i'd been approved and the card was in the post (it was actually already in my hand!)

Hope it works out for you.

TheEffect

moneysavingnoobie wrote: »

i applied for a barclaycard platinum last week. Got the 'we need more time' reponse from them when i applied online. Checked equifax online and they had done the credit search, but still hadnt heard anything a week later.

Got home last night and the credit card was there waiting for me...... Also, recieved an email today saying i'd been approved and the card was in the post (it was actually already in my hand!)

Hope it works out for you.

Thanks. I'm just hoping that not receiving anything in the last 4 days is a good thing, as DECLINED letters are usually sent out very quickly and cards take a while. (I hope :P)

TheEffect

Update: Phoned them today and they said my application had been declined because of my credit rating.

I guess I'll have to not apply for any credit for the next 6 months and get my credit rating improved.

PARIS_5000

You can try vanquis and Aqua because they are for people with adverse credit and I managed to get them as well as capital one with defaults on my credit file.

One or two more credit checks would not make any difference to your credit score.

If you are successful in getting one of these cards spend a little every month and pay it off in full will help to build your credit history.

Good luck:T

seeya23

why not try flybe card http://www.flybe.com/card/default.htm