Barclaycard - debt 10% of PA income????

splatt30

rather than pay off my stooze pot when my current 0% deal ends in July I was thinking of applying for a Barclaycard 0% for 20 months. Under the "who does this suit" section it says those with debt to income rate of <10%. I have a very reasonable income and a very high credit score. However due to the stoozing my debt to income ratio is higher than this.

Does anyone know how strictly they apply this criteria? If there's no chance of me getting this card I won't apply and ruin my credit rating. However, if I can shift the balance I want I stand to be >£500 better off over the 20 months so it's a very tempting prospect

YorkshireBoy

You could run a pre-application check. Do you know if all your debt is being reported to CallCredit?

I can't imagine they stick too rigidly to the <10% criteria because £4K debt on a £35K salary isn't too excessive is it?

m00m00

on the other hand, they do seem rather keen to change their minds after the initial decision.

izools

YorkshireBoy wrote: »

You could run a pre-application check. Do you know if all your debt is being reported to CallCredit?

I can't imagine they stick too rigidly to the <10% criteria because £4K debt on a £35K salary isn't too excessive is it?

They search Equifax and Call Credit on the Pre-Application check now, so no need to worry about whether or not debts are / aren't reported to CC

bengalknights

Barclaycard are currently closing accounts even new ones after giving approval.

YorkshireBoy

izools wrote: »

They search Equifax and Call Credit on the Pre-Application check now

Well that must improve it's reliability then, because I understand not everyone searches CallCredit so the data held by them could be 'weaker' than Equifax.