Barclays - internal score

book12

What's the measurement of the internal score? Is it like LTSB where they use a score from 1-9 for example?

When does Barclays update its internal scoring?

When applying for products, how much emphasis is put on internal scores? Or is it base mostly on external sources, or a bit of both?

jen245

I used to have a Barclays account, and as far as I can remember, they have a pre-approved offer section on internet banking where they will give you the amounts you can borrow on overdrafts, loans, and I think credit cards aswell, and as far as I know they dont do external searches on pre-approved offers. I had 2 loans with them, and they didnt credit search me for either, but this was about 7 years ago, not sure if its changed since then

Si_Guy

I opened my account with barclays 11 months ago. At that time they would not give me a small loan or an overdraft. After 11 months of running my account (no charges, wages approx 1300 pm, normal spending, not going overdrawn) i looked on the pre approved offers online and i could have upto £10k loan and £1035 OD! Today i took 4k loan to pay off credit cards, applied about 9am and had money by lunch, credit cards now paid off! no more credit card rates bending me over!!!! Have to update my signature on here soon...

Forgot to add, the pre appoved offers mean you will get them if you apply!

SpudGunner

Pre approved limits are updated on the first Monday of every month.

Based on details held on the system (employment, residential status etc), an automated assessment of how you run your accounts with us (including how much the computer thinks you have spare and could therefore afford on a loan etc) and also credit checks are done but not ones that leave a trace as such.

You can have preapproved limits for overdrafts, loans, Barclaycard and Mortgages. All are subject to application, generally speaking the only ones that still might decline are the Barclaycard (doesnt always go thru even tho shows preapproved) and Mortgages are more of a guide.

Could still be declined for instance if in branch (as part of the application process) we do your budget planner and find you cannot afford the repayments.

Sometimes limits are hidden so always worth a chat with a Personal Banker, or can be subject to proof of income