barclaycard changed their mind?!

chocola_2

Hi
First time posting but we've used this site for years - thank you!

Basically I applied for a barclaycard 0% bt card on sunday as my virgin card is almost out of promotional rate.

Post arrived today and the first letter I opened was the new card saying I'd been approved for £8600 limit etc. Then opened the next letter which said they "frequently review their accounts and have decided we no longer meet their criteria', so have closed the account!

Feel really confused about this, annoyed to have been messed around and have had a credit check for no reason. When I phoned to ask for more info, they were reluctant to explain why, but said their lending criteria changed on 15th March, but can't tell me why I no longer meet it.

Does anyone know why this happened? And what should I do now? I believe I have a good credit score and a good income.

Thanks for any help

[Deleted User]

It appears to be a habit of Barclaycard's at the moment.

Best to move on to something else.

PNPSUKNET

not that good rating or why decline you

chocola_2

PNPSUKNET wrote: »

not that good rating or why decline you

They didn't decline though, they sent the card with a huge (in my opinion!) limit, then changed their mind. Felt so happy one minute, then gutted next.

I just hope we can get accepted elsewhere before paying interest to virgin

themull1

MBNA have a good rate at the moment.

chocola_2

Thanks, but i don't think I can bt though as it would be from a virgin card, is that the rule?

thenudeone

I think the comment:

PNPSUKNET wrote: »

not that good rating or why decline you

was more trollish than the OP!

beansoup

Yes Virgin is an MBNA card and they do not transfer across products.

chattychappy

Sounds like BC are in a bit of a mess. It's one thing to turn people down, but to carry on like this just antagonises people and can't do anything for their reputation. (Perhaps banks have given up on reputations these days.)

BugsyBrowne

thenudeone wrote: »

I think the comment:

was more trollish than the OP!

What was trollish about that its true,barclaycard have accepted the OP then on additional checks the OP's credit rating(criteria) have been unsuccessful.

thenudeone

The comment:

star-fire wrote: »

not that good rating or why decline you

challenges the OP's ability to manage credit and is a gross over-simplification of the complicated, arbitrary, conflicting, and incomplete lending criteria used by different card issuers (or even for different cards issued by the same card issuer).

It is definitely not true that anyone who is declined or has credit withdrawn is necessarily a poorer credit risk than someone who is accepted. It's just more likely that you will be declined if you are a poorer risk.