Barclay's Pre-approved offers

Bosie

Do Barclay's still do pre-approved offers? Do you have to have been with the bank say at least 12 month's?
Also, I guess you would have to pay in all your income? My OH has an account, it's around 9 months now.

Thanks
Bo

withabix

They do, but you probably need an excellent profile.

You still have to apply and be credit-scored, so pre-approved offers can still turn into refusals, because 'pre-approval' is based on the info they have on you without doing a credit check.

Any pre-approved offers will be shown when you log in to online banking.

I can currently apparently borrow far more than I have any intention of doing!

Bosie

withabix wrote: »

They do, but you probably need an excellent profile.

You still have to apply and be credit-scored, so pre-approved offers can still turn into refusals, because 'pre-approval' is based on the info they have on you without doing a credit check.

Any pre-approved offers will be shown when you log in to online banking.

I can currently apparently borrow far more than I have any intention of doing!

Is there a minimum time you would have to have been with the bank?

book12

Probably around 6 months the minimum.

I guess you can go into branch sometime and check to see if you have ny pre-approved offers.

iblametheparents

Bosie wrote: »

Do Barclay's still do pre-approved offers? Do you have to have been with the bank say at least 12 month's?
Also, I guess you would have to pay in all your income? My OH has an account, it's around 9 months now.

Thanks
Bo

It usually takes around 6-12 months from account opening to build up enough history to 'pre-approve' overdrafts and loans. If you've not been pre-approved (ie have no limits for a loan/overdraft) you can still apply in branch, but it's not worth it in my opinion.

Even if you have been pre-approved and apply for an overdraft/loan in branch or over the phone, it can still be declined/referred - monthly income/expenditure has to be checked, as does the the reason for applying for the loan/overdraft. Also, if you don't have a monthly BACS payment into the account you can only apply for a loan in branch.

Pre-approved offers change every month and are based on how you've ran your account, account turnover and how much Barclays has it the pot to lend that month.

Tell you husband to check on internet banking or ring telephone banking up to see if he has limits. If he still doesn't have enough history then he'll be a Full App customer, and a full application needs to be done in branch with a credit check (this is different than having no limits, which I mentioned in my first paragraph).

book12

I only have saving account products when I check online. Never had other products advertised to me.

Do you think I don't spend enough for it to disply loans/overdrafts/credit cards?

iblametheparents

book12 wrote: »

I only have saving account products when I check online. Never had other products advertised to me.

Do you think I don't spend enough for it to disply loans/overdrafts/credit cards?

You have a Higher Education account don't you? You don't get pre-approved offers on that account as overdrafts are interest free and have different criteria when applying.

Bosie

iblametheparents wrote: »

It usually takes around 6-12 months from account opening to build up enough history to 'pre-approve' overdrafts and loans. If you've not been pre-approved (ie have no limits for a loan/overdraft) you can still apply in branch, but it's not worth it in my opinion.

Even if you have been pre-approved and apply for an overdraft/loan in branch or over the phone, it can still be declined/referred - monthly income/expenditure has to be checked, as does the the reason for applying for the loan/overdraft. Also, if you don't have a monthly BACS payment into the account you can only apply for a loan in branch.

Pre-approved offers change every month and are based on how you've ran your account, account turnover and how much Barclays has it the pot to lend that month.

Tell you husband to check on internet banking or ring telephone banking up to see if he has limits. If he still doesn't have enough history then he'll be a Full App customer, and a full application needs to be done in branch with a credit check (this is different than having no limits, which I mentioned in my first paragraph).

Thanks for that information, makes things a lot clearer.

egghead

sorry to jump on this thread, does anyone know what day of the month the new offers come on?

what day of the month they update if any?

thanks

iblametheparents

First Monday of each month.