Barclaycard Decision Referred

goaroundnow

Hi Guys

I probably know the answer to this question but maybe you can help / confirm?

I recently used Barclaycard's pre-application tool and it returned the result "Good news...etc."

It said I had an 80-90% chance of success with all the cards except for Barclaycard Initial which was 90%+. I have access to my Equifax report and this is what they had enquired against. I know they also check CallCredit at this stage (it, too, would have been fine).

On making the full application (for Barclaycard Platinum) the decision was referred. I believe that at this stage they also search Experian -which I know holds some of the same information as Equifax (but not all). The "issue" is that Experian shows other searches; 1) my recent house purchase (3 months ago), 2) car purchase (5 months ago) and 3) bank's credit card (3 months ago). Equifax show no searches.

I assume, therefore, that it is these searches from Experian which have made this an almost certain (80-90%) approval to now a likely decline?

Would you agree? More importantly, is there any chance that the underwriter will look at it and approve if the referral is just because of these searches?

Cheers.

opinions4u

Unless you're going to get one of the handful of Barclaycard underwriters posting commercially sensitive information, you're not going to get an answer.

If it's not been declined automatically, assume there's a 50% chance of manual underwriting offering it. If they had a policy of declining all referred applications they'd have just told the system to decline them automatically.

izools

Also to note is that Barclaycard dont always search experian, they often use Equifax alone, so there's a good chance they haven't seen the searches.

But as o4u says, no one can give you an answer other than Barclaycard in a couple of days. Good luck! :beer:

goaroundnow

I assume that they have searched Experian as I couldn't understand why a 80-90% chance of success (pre-application using Equifax) transpired into a referral on full application.

The information on the full application is almost identical to the pre-application checker. The only extra informtion seemed to be the type of business I worked in. Maybe that could set something off. It's an airline.

Cheers

chanz4

The very large amount of new credit is likely to go against you.

goaroundnow

I am sure the new credit doesn't help. Barclaycard, however, would have been aware of it from the pre-application as it shows on my Equifax and CallCredit reports. In fact, Experian do not report all of my credit accounts but show all of the searches.

blacksta

Dont worry about it - i got 80 to 90% on the pre check thing but my case was also referred and 5 days later got the agreement in the post and was told by the telephone operators that my limit was 10k ( I was so shocked - i thought we were in recession - how can they give out such limit ) honestly i was expecting around 6k

opinions4u

blacksta wrote: »

Dont worry about it - i got 80 to 90% on the pre check thing but my case was also referred and 5 days later got the agreement in the post and was told by the telephone operators that my limit was 10k ( I was so shocked - i thought we were in recession - how can they give out such limit ) honestly i was expecting around 6k

Britain came out of recession at the end of 2009.

goaroundnow

Cheers Blacksta.

We'll see what they say. I certainly do not want, or need, a £10k limit, though!

richard734

I am not a Barclaycard Underwriter, but I do work with clearing and approval systems in general.
As a rule, a card agency will have 3 settings on 'instant' decisioning engines. Accept, Decline and Refer.
You can trigger a refer for a number of reasons, teh most common being that teh credit reference agancy did not respond in time, IE the service sends a request for info, the reference agancy takes more than 30 seconds to process and respond, triggering a Refer message while the case is worked in teh background, either by an overnight btach process or a manual handler(AKA a human!)

Other reasons can be teh issuers fraud rules, IE you live in a postcode where there has been a high rate of fraudulent activity, your name and DOB match with an existing customer etc - The list is long and varied

Finally, if the credit limit you have requested is more than the one that is estimated, but by less than a set amount (you want 10% more than they would normally issue) depending on teh logic set, the application may well get passed to an agent to work.

I know it does not help your case specifically, but it might help lessen teh stress of why you got a refer.

FYI, a well know card issuer I have consulted for declines 55% of applications, and refers 30% - its not that uncommon and you should not stress.