I can't even get a Barclaycard Initial!

DazedConfused_2

Dr_Cuckoo3 wrote: »

Do you have a bank account (current account) ?

Have you approached your bank ? :idea:

The stupid thing is I have plenty of savings - I'm financially about as safe a bet as you can get (as I'm a saver, not a spender), but of course savings/ISAs/investments don't count towards credit.

I'll definitely give the bank a call, though.

Dr_Cuckoo3

I think all Credit card application forms ask whether you have a current account

Vanquis ask this https://www.vanquis.co.uk/apply

Are you saying that you don't have a current account anywhere ?

DazedConfused_2

I have a current account - the application didn't ask me, or ask how much was in it.

Dr_Cuckoo3

Some current accounts have pre-approved offers for credit cards (or the applications are weighted in favour of account holders with a good behaviour score)


The sub-prime credit thread may be of interest https://forums.moneysavingexpert.com/discussion/2558071

If your own bank declines your application - then try Metro Bank , they manually assess applications and will look at bank statements etc - they are a small bank so you have more chance of a personal decision

Metro Bank only use Equifax , therefore Credit Expert's score will be irrelevant

Dr_Cuckoo3

In your other thread https://forums.moneysavingexpert.com/discussion/3192526 (which I should have read before relpying to this one) you say that you already have a VISA credit card from a small, relatively unknown bank - but do not name the bank

That suggests Coutts , Adam & Co , Laiki Bank , Bank of China , BBVA or a Northern Ireland bank (assuming that the bank you hold a card with still issues credit cards)

book12

Barclaycard's criteria for the Initial is quite tough. Others card mentioned above is not.

If you bank with Barclays, check if you have a pre-approved credit card when going to branch (it won't be an Initial card though). If so, go for it. You will get a high chance of acceptance, with a credit limit at the end of the application. If you are not banking with Barclays, try your bank and do the same thing (i.e. check to see if you have pre-approved offers) before applying for Vanquis, Capital One, etc...

pearls_of_wisdom

book12 wrote: »

Barclaycard's criteria for the Initial is quite tough. Others card mentioned above is not.

If you bank with Barclays, check if you have a pre-approved credit card when going to branch (it won't be an Initial card though). If so, go for it. You will get a high chance of acceptance, with a credit limit at the end of the application. If you are not banking with Barclays, try your bank and do the same thing (i.e. check to see if you have pre-approved offers) before applying for Vanquis, Capital One, etc...

book 12 would you kindly clarify above i have a current account with barclays done online search(ONE THAT DOESN'T REGISTER WITH AGENCIES) and quoted 70/80% for an initial card(NOT YET APPLIED) so my point is i don't understand you're comment pre-approved card (not initial) you obviously know something i don't please clarify many thanks

[Deleted User]

I think what book12 is saying is that your own bank will have a good idea of whether they'd offer you a card without doing a full search. It may not be entirely pre-approved - ie 'give us a shout and we'll pop it in the post', but a safe bet, as in 'yup, you can have one as long as when we run a final check on you we don't find out that you owe £400k to Ladbrokes'.

Your 70/80% acceptance guide for the initial should, in all likelihood, be higher than that in practice if you're already a customer.

pearls_of_wisdom

Deleted_User wrote: »

I think what book12 is saying is that your own bank will have a good idea of whether they'd offer you a card without doing a full search. It may not be entirely pre-approved - ie 'give us a shout and we'll pop it in the post', but a safe bet, as in 'yup, you can have one as long as when we run a final check on you we don't find out that you owe £400k to Ladbrokes'.

Your 70/80% acceptance guide for the initial should, in all likelihood, be higher than that in practice if you're already a customer.

thankyou zx81 the 70/80% was approx 2 months ago and i've only been with bank 3 months so i'm hoping in the near future this % will improve,my instinct was the lack of the other 20/30% was more damning than the 70% likely acceptance many thanks

book12

pearls_of_wisdom wrote: »

thankyou zx81 the 70/80% was approx 2 months ago and i've only been with bank 3 months so i'm hoping in the near future this % will improve,my instinct was the lack of the other 20/30% was more damning than the 70% likely acceptance many thanks

I think being for the bank a little bit longer helps, like 6-12 months.

pearls_of_wisdom wrote: »

book 12 would you kindly clarify above i have a current account with barclays done online search(ONE THAT DOESN'T REGISTER WITH AGENCIES) and quoted 70/80% for an initial card(NOT YET APPLIED) so my point is i don't understand you're comment pre-approved card (not initial) you obviously know something i don't please clarify many thanks

I would go into branch and see what cards are on offer. If you have any cards on offer (anything from Initial to Platinum. pre-approved - high chance of acceptance usually), go for it. You will have an instant decision (if accepted, a credit limit will be given at the same time), and sign paperwork. If you don't want the card offered, and want Initial, say that to them.

Applying online will slow things down, as there won't be any instant decision.