Nationwide Soft-Search

CreditCrunchie

Why didn't it show me a really high apr and low limit if it was going to just straight out auto decline?

RichL74

I don't know 100% if the soft search checks the electoral roll.

Normally auto-declines come in at £1000 or less and 19.9% APR although there was never any concrete proof that was the case it just seemed to be what a lot of people were getting quote wise in this thread for a while. It was never proved.

How long have you been at your address?

CreditCrunchie

Only 12 months, but have 3 years address history before that. Do you think it's worth a phone call and appeal?

RichL74

If you are 100% sure there is nothing else on Experian then you could contest it yeah.

Alarae

Finally decided to bite the bullet with Nationwide and applied. Got £2500 and 19.9%, went through and accepted, confirmation in post.

Means I can close my Student card with Lloyds that gives me nothing and the Capital One Classic Extra.

Plus the balance transfer offer is nice- might offer that to my sister to help her get her interest attracting debts to 0%. (I know the general consensus is not to take on debt for family, but I know she will pay me back each month with a set amount if I say so. Or if she started to get into trouble I would just transfer it back to her.)

Out of curiosity, if you run an account well will they drop the APR at a later date? I assume my low income at the moment prompted the higher rate.

The apr doesn't really bother me as I pay in full each month, but would be nice to have a lower apr just in case.

MisterBaxter

The soft search seems to throw up different results. I have done a soft search a three times over the past couple of months with no change in my personal circumstances and using the same information each time. All on the 0% purchase card, I don't have a balance to transfer.

Quoted:

£6800 at 17.9%
£5400 at 15.9%
£7500 at 17.9%

zerog

MisterBaxter wrote: »

The soft search seems to throw up different results. I have done a soft search a three times over the past couple of months with no change in my personal circumstances and using the same information each time. All on the 0% purchase card, I don't have a balance to transfer.

Quoted:

£6800 at 17.9%
£5400 at 15.9%
£7500 at 17.9%

Well, given that their deals keep getting better and better, they must be desperate for new customers. I thought that 3% fee and 12 months 0% was good when I applied last year... recently my wife got 2.4% fee and 26 months, which is rubbish compared to their current offering

So maybe they thought £5400 was not enough for you, so you didn't apply, so when you tried again they offered you more credit

Of course the computer doesn't think, but the underwriters would have changed the program so that someone in your circumstances would get offered a higher limit than previously

When the limit decreased, that could be because they recorded the soft-search

I did this multiple times and each time the offered limit would go down, until they delete their records after about 90 days

MinaEskobar

I applied using the soft search with a limit of 1000 and APR of 15.9 but it declined me. Rather frustrating as I have very little credit history so assumed it would be 19.9 if it was a decline. I bank with Nationwide as my main bank, however only held the account for less than a year. Boo soft search!

greenorange

MinaEskobar wrote: »

I applied using the soft search with a limit of 1000 and APR of 15.9 but it declined me. Rather frustrating as I have very little credit history so assumed it would be 19.9 if it was a decline. I bank with Nationwide as my main bank, however only held the account for less than a year. Boo soft search!

I get the same, and also got declined a few months ago. I'm guessing a £1k limit is most likely a decline all the time.

antonymp

I just applied for a Nationwide Flexplus Current Account and was also offered a Nationwide Select Credit Card as part of my application, they've quoted me a credit limit of £2000 and a 19.9% APR also with a 0% Purchase rate of 15 months plus a Balance Transfer term of 26 months, everything seemed to go well and on the final screen it said that my application has been approved in principle, my question is though does that mean I've definitely been approved or is there any reason why I shouldn't?


Any advice would be gratefully appreciated.