Nationwide Soft-Search

BugsyBrowne

wizzywig27 wrote: »

I did this soft search 15 mins ago, it offered me 19.9% APR and let me choose my credit limit up to £1000, so I went ahead then declined me. What are the point in these soft searches if they give you the impression you will be accepted, then let you go ahead and be declined. Sooo annoyed!

Soft searches do not take in your debt to income, available credit & balances it's just CCJ's Defaults late/missed payments.

Hitme

BugsyBrowne wrote: »

Soft searches do not take in your debt to income, available credit & balances it's just CCJ's Defaults late/missed payments.

Soft search does appear to check financially linked people with defaults either

Cash_Flow

BugsyBrowne wrote: »

Soft searches do not take in your debt to income, available credit & balances it's just CCJ's Defaults late/missed payments.

Can provide a source for what you are saying?

Why would the soft search give you a quotation on how much it would cost you to borrow without taking into consideration key elements of risk?

BugsyBrowne

Cash_Flow wrote: »

Can provide a source for what you are saying?

Why would the soft search give you a quotation on how much it would cost you to borrow without taking into consideration key elements of risk?

I am talking barclaycard.

BugsyBrowne

Hitme wrote: »

Soft search does appear to check financially liked people with defaults either

Not sure if your financially liked help.

Cash_Flow

BugsyBrowne wrote: »

I am talking barclaycard.

You forgot to mention that in your previous post, wizzywig27 was talking about Nationwide.

BugsyBrowne

Cash_Flow wrote: »

You forgot to mention that in your previous post, wizzywig27 was talking about Nationwide.

Ahh Right that will teach me for joining in the thread half way through without reading what the actual post was about.

giblet10

I seem to recall when I was declined by NW during my first application the final screen stated, along with the decline, that due to the agreement they have with the CRA that they couldn't decline me on the soft search even though they knew they were going to decline at that point.

My suspicion (that's all it is) is that this has to do with creditors liking to know how many other credit products you've applied for ie the dreaded number of searches we talk about on here all too often..because a soft search is designed to reduce the number of searches as one of its main selling points, I reckon the industry doesn't like this being used as a way of declining applications.

IMHO the whole credit application process needs an overhaul.

giblet10

Cash_Flow wrote: »

Balance transfer completed today.

The whole process took six days from date of application and no further ID verification required.

Well done Nationwide.

That's impressive! Have you received your card yet and did you get the same message as me when you applied "accepted in principle subject to final checks.."

I'm on holiday right now so don't know if mine has gone through ok - I applied last week and got the message mentioned..

Cash_Flow

giblet10 wrote: »

That's impressive! Have you received your card yet and did you get the same message as me when you applied "accepted in principle subject to final checks.."

I'm on holiday right now so don't know if mine has gone through ok - I applied last week and got the message mentioned..

Yeah I got the same message as you.

I have not received my card yet although I'm not to concerned as it was the balance transfer I was after.

With regards to your application - I'm sure you will be fine