Accepted for RBS MasterCard but question....

inline4

Hi folks

Last night I applied to RBS for a credit card. I was accepted with a credit limit of £1300 and signed up online. My credit score with Experian was 949 before I applied however checking this morning it has dropped to 801 as the search RBS made updated Experian overnight which now says I have 3 searches in the past 6 months.

My question is, will RBS pick up on this and lower my credit limit before sending the card or shouldnt it matter and they will instead base it on usage of the card instead?

Many regards

dtaylor84

inline4 wrote: »

Hi folks

Last night I applied to RBS for a credit card. I was accepted with a credit limit of £1300 and signed up online. My credit score with Experian was 949 before I applied however checking this morning it has dropped to 801 as the search RBS made updated Experian overnight which now says I have 3 searches in the past 6 months.

My question is, will RBS pick up on this and lower my credit limit before sending the card or shouldnt it matter and they will instead base it on usage of the card instead?

Experian's "credit score" is a meaningless number. It is not used by any lender to make a decision on a credit application. It is calculated based on many of the same factors, but each lender has it's own "scoring" algorithm that weights factors differently.

RBS will not change their mind as a result of their own search being recorded on your credit application! They know that will happen when they make the original decision, anyway.