Nationwide Soft-Search

Vikkii

Thanks - fingers crossed!

Vikkii

Oh dear.

My husband has just informed me that today he was wandering around town and applied for a loan with the Co-op 'just to see' :mad: Which is now recorded as a search on my Experian record as we're financially linked with the mortgage and one bank account (which altho is in joint names only he uses, I have my own).

My score has gone down from 970 'excellent' to 942 'good' since lunchtime when I applied for the Nationwide card

Really hope this doesn't !!!!!! up my chances of getting this card *sigh*

RichL74

Forget what Experians score says okay?

zerog

If you already have a Nationwide card, can you use this as a way of assessing your credit score for another application (bearing in mind that different banks will have different criteria)?

notmyrealusername

Just wondering what people think the chances are...

History:

100% clean credit file with no defaults/past IVA showing (defaults dropped off two weeks ago). Lots of green dots for current credit cards, mobile phone etc 30k salary, electoral roll for 4 years, same job for 7 years, same bank for 6 years.

Did the soft search back in May (when 4 defaults were showing) and got quoted £1000 @ 19.9%

Now that all defaults are off my file I have done another soft search and got quoted £1800 @ 19.9%

I recently applied for a £500 overdraft with my bank (Natwest) and got declined - despite having had account for 6 years and having never gone a penny overdrawn. Strangely enough they don't appear to have searched my credit files so I'm still showing as 0 searches though.

Now I don't 'need' a credit card, I'm just looking to replace the sub-prime, which I always pay off in full on receipt of the bill, with prime but after all this time of rebuilding my credit history it would be a blow to be declined mainstream so am happy to wait if people think the £1800/19.9% is likely to be a decline!

jpb77

notmyrealusername wrote: »

Just wondering what people think the chances are...

History:

100% clean credit file with no defaults/past IVA showing (defaults dropped off two weeks ago). Lots of green dots for current credit cards, mobile phone etc 30k salary, electoral roll for 4 years, same job for 7 years, same bank for 6 years.

Did the soft search back in May (when 4 defaults were showing) and got quoted £1000 @ 19.9%

Now that all defaults are off my file I have done another soft search and got quoted £1800 @ 19.9%

I recently applied for a £500 overdraft with my bank (Natwest) and got declined - despite having had account for 6 years and having never gone a penny overdrawn. Strangely enough they don't appear to have searched my credit files so I'm still showing as 0 searches though.

Now I don't 'need' a credit card, I'm just looking to replace the sub-prime, which I always pay off in full on receipt of the bill, with prime but after all this time of rebuilding my credit history it would be a blow to be declined mainstream so am happy to wait if people think the £1800/19.9% is likely to be a decline!

This could be a decline. Nationwide like to see you having a CC elsewhere to see how you've managed this account. Could be a refer but people have been accepted with £1000 with 19.9% before but thats a small chance i.e 9 out 10 with that quote will be declined. But it looks promising in your case that the new soft quote is £800 more than your previous quote with the defaults!

notmyrealusername

jpb77 wrote: »

This could be a decline. Nationwide like to see you having a CC elsewhere to see how you've managed this account. Could be a refer but people have been accepted with £1000 with 19.9% before but thats a small chance i.e 9 out 10 with that quote will be declined. But it looks promising in your case that the new soft quote is £800 more than your previous quote with the defaults!

Thanks, when you say that "Nationwide like to see you having a CC elsewhere to see how you've managed this account" do you mean having credit cards with other providers? I have three credit cards - two creation and one Vanquis with 6k limits between them. Only ever spend about £300 on each one every month and pay the bill off in full on receipt.

If it's looking more likely to be a decline that a pass I'd rather leave it as don't think I could cope with the rejection - six years of hard graft since I started my IVA and I am now a saver rather than a borrower but would still like a mortgage in the future so trying to go mainstream with the cards to help with that.

RichL74

I dont think £1800 at 19.9% is a decline, £1000 at 19.9% would be - but please dont take my word for it, decision is yours!

butterbeanmash

I'm pretty sure I know the answer but do you think that £500 at 15.9% would be an immediate decline? Just asking because every other time I've tried the interest rate has been 19.9%.
Thanks.

BugsyBrowne

butterbeanmash wrote: »

I'm pretty sure I know the answer but do you think that £500 at 15.9% would be an immediate decline? Just asking because every other time I've tried the interest rate has been 19.9%.
Thanks.

Remember nationwide gives out APR's and credit limits to everyone which means its always best to check your credit files first.

Have you anything on your credit files that you see as a negative defaults,missed/late payments,past credit history,etc...