Just When You Think Your Credit Worthy...Wham!!!!!!

pauldobie1966

Hi Guys,

I have been trying to build my credit up for some time now. I use creditexpert.co.uk (which is experian) as way to view my score and find out if I am eligible for credit deals.
Last time I checked my score I was pleased to see that I had moved from poor to fair(721).
Credit expert informed me that I could be eligble for a Barclaycard Gold credit card.
Needless to say I applied online and was shocked when the message came "Congradulations your application has been successful".
The message went on to say that I would recieve my card in the next 5 days simply phone to activate it I was so pleased.
I have a Capital one card but to have a Barclaycard, I thought I am definately moving in the right direction.
3 days after this happening I recieved a letter from Barclaycard informing me that my new credit card account had been closed (I havnt even got my card).
What the hell is going on. I immiediately checked my credit score again to find it had decreased by 150 points and am now back in the poor category.
Can any body tell me whats going on, can I appeal and if so is it worth it!
Can I have my score rectified?
I am at a loss as to whats happened and have managed my finances with care for so long to improve my score and then WHAM!!!
Punch in the face from Barclaycard:mad:

chexum

Apparently they want to send a card so quickly that they do some of the background checks only only after the initial message, in some cases even after the pin or the card has been sent. Chances are they based the immediate decision on Equifax, but your Experian history is somewhat different from what they expected (hence the criteria).

Unfortunately they have every right for it, and you had to agree to the terms that they can record your credit request, regardless of the results. It's mighty annoying though.

Barclaycard does that to a lot of people, it's not you:

Help! Barclaycard treatment is disgraceful
https://forums.moneysavingexpert.com/discussion/3147712

Barclaycard Accepted but 1 week later they closed my account?
https://forums.moneysavingexpert.com/discussion/2204645

Barclay Card Account Closed for No Reason!! Grrr
https://forums.moneysavingexpert.com/discussion/2803930

barclaycard changed their mind?!
https://forums.moneysavingexpert.com/discussion/3118108

Barclaycard application
https://forums.moneysavingexpert.com/discussion/2712403

Barclaycard accepted then rejected?!
https://forums.moneysavingexpert.com/discussion/1969669

Barclaycard said yes and then no after card issued.
https://forums.moneysavingexpert.com/discussion/3069872

To be fair (no pun intended), a fair rating is one step below good, do you consider someone not "good" to be credit worthy? And as usual, you should not base your decision on Experian's scoring, they don't lend money directly - the banks can and will do score you differently.

Fruit_and_Nut_Case

Excellent list chexum. You have been busy!

duckass

I had a 0% deal with them but when it ended 18months ago I BT'd and closed the account.
I'm tempted by the Barclaycard deal but does anyone know if there is a minimum time before you can return to them?

Tixy

duckass wrote: »

I had a 0% deal with them but when it ended 18months ago I BT'd and closed the account.
I'm tempted by the Barclaycard deal but does anyone know if there is a minimum time before you can return to them?

6months (to be treated as a new customer and eligible for new customer deals).

pauldobie1966

Chexum sorry for the late thanks but i am new to this.
Your info is both reassuring and comforting, just for the record I recieved an email today 4 days after recieving the closed account letter to say that I have been approved by Barclaycard!! Welcome!! Your Credit Limit is 2000 pounds.
What a Con!!!!!!!!!!!!!!!!!!!!!!:beer:
I will continue to manage my credit and will have an excellent one day will I have a barclaycard then? I dont think so!!!!!!!!!!!!!!!!!!!!!!!!!