I got declined by Barclaycard Intital! Why?

Rose123

Coming to think about it, barclaycard initial only searched my equifax report which only showed 3 searches in the last 6 months, one being littlewood in march and I got accepted and one being a loan in Jan which was declined and one from themselves, so it could not have been the multiple searches as the 5 searches this month only show on experian!!!

It must be my missed payments then

They were over 6 months ago, i didnt even think they would bother about that!

Bloody credit! So complicated! lol

thriftymomma

I think 5 searches in a month is quite a lot. Could be that.

Rose123

thriftymomma wrote: »

I think 5 searches in a month is quite a lot. Could be that.

5 is quite a lot but my point is that the 5 searches showed on my experian file which the never searched,

they searched my equifax report which showed 3 in 6 months and those three searches includes their search, One in Jan (loan), one in March zand one in May

debtdestroyer007

5 searched is bad........ go into hiberation for 6 months mate.....

Rose123

debtdestroyer007 wrote: »

5 searched is bad........ go into hiberation for 6 months mate.....

Hun I know that, hence SOS club number in my signature

naijapower

Well if you ask me, i suspect it's got nothing to do with your credit file. Like you stated, they searched Equifax which shows 3 searches in last 6 months. Not bad in my opinion.
They must have declined cos they dont wish to lend, pure and simple. Take note Baclaycard has cut down people's limit in recent past. An indication of their unwillingness to lend.,
I have seen time and time beofre where lenders send you refusal letters which look like template stating you have been refused bla bla bla....check experian etc...
By the time you check CRA, you find nothing wrong.
So where does that leave you?
I have in my own case proceeded to apply to a different provider and have been accepted which clearly confirms it may not be a credit file issue but an internal decision by the lender that declined me

Moggles_2

There's a difference between late payments and missed payments. Fortunately, it sounds as though yours are the former.

Payments which are missed altogether can wreck your credit rating for years, but late payments are viewed as negative, only if you attract more than two in a short space of time. Even then, the effect is fairly short-lived.

The actual late payment drops off your file after 36 months, but it's your payment history with all your creditors over the last 6 years that counts, with particular emphasis on the most recent 12 months.

Rose123

Moggles wrote: »

There's a difference between late payments and missed payments. Fortunately, it sounds as though yours are the former.

Payments which are missed altogether can wreck your credit rating for years, but late payments are viewed as negative, only if you attract more than two in a short space of time. Even then, the effect is fairly short-lived.

The actual late payment drops off your file after 36 months, but it's your payment history with all your creditors over the last 6 years that counts, with particular emphasis on the most recent 12 months.

It was a late payment so equifax and experian noted a 1 in one month and a 1 in the following month for one creditor and 1 for another creditor in 1 month! So im guessing that will drop off in 36 months?

Thanks for ur post, very informative

Rose123

naijapower wrote: »

Well if you ask me, i suspect it's got nothing to do with your credit file. Like you stated, they searched Equifax which shows 3 searches in last 6 months. Not bad in my opinion.
They must have declined cos they dont wish to lend, pure and simple. Take note Baclaycard has cut down people's limit in recent past. An indication of their unwillingness to lend.,
I have seen time and time beofre where lenders send you refusal letters which look like template stating you have been refused bla bla bla....check experian etc...
By the time you check CRA, you find nothing wrong.
So where does that leave you?
I have in my own case proceeded to apply to a different provider and have been accepted which clearly confirms it may not be a credit file issue but an internal decision by the lender that declined me

Sounds fair enough

never-in-doubt

mikeyboy1980 wrote: »

Does anyone know how long National Hunter 'store' any information they hold?

I know the the main CRAs delete info (or should do) automatically after 6 years, but cannot find info about this on the National Hunter website.

It is 6yrs, conforms with the rest under DPA which stipulate a maximum of 6yrs. The only info you'd ever want removing is if it has the words 'applicant refer' which basically means to other lenders to refer the case to the originator as something is not right (i.e. genuine changes such as change of employer/bank or fraudulent things).

Basically, it's a black list mate - easiest way to explain it. Against you and you alone, not the address or family - but you.