Barclays - how do I see my "limits"?

sillystudent_2

Hi, was just hoping somebody from Barclays (or anyone in the know really) could help me with this

I keep hearing on here about Barclays' "pre-approved limits" for various products (loans, credit cards) that appear online - however, I've never seen any for myself, presumably because I have a student account. But if I were to upgrade to an Additions Plus account then, would I start to get such 'offers?'

I guess my question is - what are the criteria for these limits, and will I have any on a student account? Obviously the specifics of the limits (e.g. how big an overdraft) are based on money coming into the account etc. but what do you need to get limits in the first place - is it entirely based on what type of account you have or merely account behaviour/how much money going into the account (e.g. a really wealthy student would get some!)

Thanks in advance for the help

p.s. if i do have any pre-approved limits, how can I find out what they are?

Rafter

You can't.

If the bank publicised how it made decisions on lending openly then it would get loads of fraudulent applications.

What barclays will do is write to customers offering 'pre-approved to apply' loan or credit card amounts as part of marketing campaigns. You would still be checked though and potentially declined if your credit rating wasn't up to scratch.

If not, Barclays would be breaching a whole host of FSA rules about treating customers fairly and ensuring that any loan or card payments are affordable to the customer. Since they can only prove this by reviewing a detailed application form with your income and outgoings, they can't possibly 'pre approve' limits.

As a student, the amount you can borrow will depend on whether you have a job with income coming in, what you need the money for and how much barclays think you will earn when you graduate. Upgrading to an Additions plus account won't make any difference.

Good luck

R.

withnell

Halifax have preapproved me for a credit card without an app form...

TheEffect

Barclays show customers what 'pre-approved limits' they have when you login to Internet Banking. Login to Internet Banking using your PIN Sentry (If you have one). Once logged in, click on your current account, and on the left, where it seas Overdraft, BarclayCard etc, it will say 'Pre-Approved Limits'. Click this, and it seas Overdraft = You can have £xxxx BarclayLoan = You can have £xxxx etc...

picardygirl

Rafter wrote: »

You can't.

If the bank publicised how it made decisions on lending openly then it would get loads of fraudulent applications.

What barclays will do is write to customers offering 'pre-approved to apply' loan or credit card amounts as part of marketing campaigns. You would still be checked though and potentially declined if your credit rating wasn't up to scratch.

If not, Barclays would be breaching a whole host of FSA rules about treating customers fairly and ensuring that any loan or card payments are affordable to the customer. Since they can only prove this by reviewing a detailed application form with your income and outgoings, they can't possibly 'pre approve' limits.

As a student, the amount you can borrow will depend on whether you have a job with income coming in, what you need the money for and how much barclays think you will earn when you graduate. Upgrading to an Additions plus account won't make any difference.

Good luck

R.

You can, as The Effect explains above, how you can see what your "pre-approved" limits are .....

Extant

You won't have any limits if you have a student account.

sillystudent_2

You won't have any limits if you have a student account.

So would this change were I to upgrade to a Barclays Current Account Plus? (not planning on doing this, just curious!)

thriftymomma

sillystudent wrote: »

So would this change were I to upgrade to a Barclays Current Account Plus? (not planning on doing this, just curious!)

After some time showing your bank you can run a proper current account, it sounds like it would.

Mightyowl

I have the addition plus account, but because i have only been a customer for 4 months no offers are available at present.

Extant

sillystudent wrote: »

So would this change were I to upgrade to a Barclays Current Account Plus? (not planning on doing this, just curious!)

If you switched to any "regular" current account then you'd start to generate limits if applicable.

It's only the fact that you're marked as a student that prevents you from getting limits generated - as outside of student overdrafts, you shouldn't really be doing anything much for students.

iblametheparents

Rafter wrote: »

You can't.

If the bank publicised how it made decisions on lending openly then it would get loads of fraudulent applications.

What barclays will do is write to customers offering 'pre-approved to apply' loan or credit card amounts as part of marketing campaigns. You would still be checked though and potentially declined if your credit rating wasn't up to scratch.

If not, Barclays would be breaching a whole host of FSA rules about treating customers fairly and ensuring that any loan or card payments are affordable to the customer. Since they can only prove this by reviewing a detailed application form with your income and outgoings, they can't possibly 'pre approve' limits.

As a student, the amount you can borrow will depend on whether you have a job with income coming in, what you need the money for and how much barclays think you will earn when you graduate. Upgrading to an Additions plus account won't make any difference.

Good luck

R.

Completely wrong.