Barclays default removed

farhadhussain

Hey there ppl!
i managed to get an incorrect barclays default removed from my equifax report and the account is now being shown as settled.my rating has shot up from 273 to 385.still in the fair status..however i need some advice on barclay's credit cards.

I opened my first bank account with barclays in Mid 2006.but closed it after a year. then again i opened up an account in march 2008( i dont know what got into me:P) but it was also closed without reason as i was dealing with personal problems and could not operate the account efficiently. they did put like a 8 pound default which was there for a year when finally i checked my equifax report( i use experian regularly) which i have managed to clear with them. both barclays accounts now come as settled on ex and eq.

Now the main question

how likely is it that Barclays will accept my application for a credit card, either with Barclays itself or its partners e.g Skycard as they probably think im a risky customer.

Although i know they check the credit report to score my application, they also use their internal systems to check any additional information which is why im wary of applying..

Any help would be appreciated.

battyboimatt

By the sounds of it the default has not been removed only marked as settled, if it had been removed it would not show on your file at all, if it is just settled I would still think you would struggle to get any credit card from a main lender as a settled account stays on file for six years from the date of default, hope this helps.

Matt

farhadhussain

but it doesnt say anything like DEFAULT..only says settled..then again
if settled accounts are a positive arent they.. e.g when i finished off 2 mobile phone contracts, the accoutns now are settled and will stay there for the 6 years.and my credit rating is being shown as 385, saying all my accounst are upto date and most of the report indicate im worthy for credit.. but my actual question remains un answered.

never-in-doubt

farhadhussain wrote: »

but it doesnt say anything like DEFAULT..only says settled..then again
if settled accounts are a positive arent they.. e.g when i finished off 2 mobile phone contracts, the accoutns now are settled and will stay there for the 6 years.and my credit rating is being shown as 385, saying all my accounst are upto date and most of the report indicate im worthy for credit.. but my actual question remains un answered.

after you see settled, does it have comments such as 'part payment agreed' or anthing? Also, look at the status - is it all little green [0]'s or are any late payments showing? All this will have an impact on whether it is settled in a good way (i.e. closed properly in accordance with the terms - GOOD to future lenders) or whether it was settled with a final settlement or otherwise...

See where i'm coming from on this....?

p.s. don't get drawn into credit score with the CRA's - they mean nothing. Each lender has their own criteria which, unfortunately, is nothing like the ones you get from the CRA's. For example, CRA's do not offer credit, they only assign an element of risk per application so their scores simply show you a basic idea of whether you're likely to be accepted.

Personally, I think your score is way too low. Mine (Experian) was pushing 500 when I got a mainstream card (Equifax was 0 by the way) so it helps picking the lender that only uses a particular CRA when doing searches, see here for details: http://forums.moneysavingexpert.com/showthread.html?t=1033817

System

Hi farhadhussain

Barclaycard use Barclays group records when credit scoring, so this may be a problem for you.

http://www.barclaycard.co.uk/personal-home/credit-guidance/the-application-process-explained/index.html

Regards
UNDERGROUND