I've been offered a 'guaranteed credit card' ...

danothy

I thought they didn't exist, as did uswitch apparently.

Other than the fact that I would be given a Halifax Clarity CC without a credit search the details have been very thin on the ground, which make me feel like this is less than legit, but it's what I'm being told to my face by Halifax employees which I would have thought would mean (in theory) that it is on the level.

Has anyone else had this? Is there some other motive or catch to this offer that I'm overlooking?

I invite all serious and conspiracy theories on this one.

chattychappy

They are talking nonsense.

[Seems I was talking nonsense!]

rb10

It is absolutely true, if you have a current account with them they have access to your credit reference agency data anyway, so have no need to do an additional check for the credit card.

danothy

chattychappy wrote: »

They are talking nonsense.

That is a bold statement ...

chattychappy

danothy wrote: »

That is a bold statement ...

Regulation means that they have to search if nothing else to avoid allegations of irresponsible lending.

Perhaps it was too bold - if they have up-to-date access to your record for another purpose then maybe they won't need to search again. rb10 seems sure of this point.

In the case of Nationwide they searched me when I applied for a Visa card even though I had a current account with them. It's not unusual for credit card divisions to operate at arms length even when the card is issued by the same bank.

opinions4u

Halifax have been offering guaranteed credit cards based on internal scoring for about 10 years.

They also ensure applicants who they believe are likely to be accepted, but do require credit scoring, are highlighted to sales staff.

If you think the card is right for you, go for it.

chattychappy wrote: »

Regulation means that they have to search if nothing else to avoid allegations of irresponsible lending.

Which regulation insists that a card issuer credit searches every applicant?

danothy

opinions4u wrote: »

Halifax have been offering guaranteed credit cards based on internal scoring for about 10 years.

They also ensure applicants who they believe are likely to be accepted, but do require credit scoring, are highlighted to sales staff.

If you think the card is right for you, go for it.

As I expect to travel for my research and this is appears to be a good card for overseas spending I will make an appointment to take this further (making sure I am fully informed about what I am being subjected to).

chattychappy wrote: »

Regulation means that they have to search if nothing else to avoid allegations of irresponsible lending

This is the side of things that makes me think there's something undisclosed ... If I was guaranteed a card but the search was only to determine the rate and limit I would be happy too as it's not a wasted footprint.

chattychappy

opinions4u wrote: »

Halifax have been offering guaranteed credit cards based on internal scoring for about 10 years.

OK thanks, won't argue with that. My guess is one day this policy (of not doing an external search) will change cos that's the way regulation is going.

rhcp

I had one of these through Lloyds. I had a current account with them and they kept sending me letters guaranteeing a credit card. I wasn't working at the time and thought now way would they give me a credit card, but they did, with a £2,500 credit limit!

YorkshireBoy

opinions4u wrote: »

Halifax have been offering guaranteed credit cards based on internal scoring for about 10 years.

Indeed, my last 3 Halifax cards (Halifax 'One' and Charity simultaneously with £10K limits on each, and latterly another 'One' card with a £7K limit) have been offered without a credit search, but based on their Early Credit Decisioning (ECD*) system.

And before those, both my wife and I were each given cards on the back of current account applications...with only "search type: current account" searches being recorded with the CRAs.


* I understand (from a HBOS employee on here) this has now been replaced by another similar system.

gazelle8760

Lloyds TSB offered me their Credit Card on the back of a search for their Current Account, along with an Overdraft, the only time I knew I had these available, was by an off chance visit to branch one Saturday, when the advizor was busy messing on the system with my account, I noted that they were sitting on my account, with the words, "Offer not taken up", within ten minutes, the offers were taken up, and the facilities in place, but they certainly never rushed themselves to tell me I could have them.