Using nationwide pre-application quote to monitor my credit file?

rodmace

bluedove wrote: »

The first stage (soft quote) of the application process do not involve a credit check, rather nationwide will do an "Internal Credit scoring" using their system and it does not link to Experian hence won’t appear on any applicants credit file.

No, you are wrong here. They do a credit check flagged as 'administrative review' or 'quotation search' on your credit file, which can be seen by you and the CRAs only; Hence, it will not affect your credit score in other credit card issuers. In fact, I have my credit report checked couple of days ago with a nationwide soft search shown on it.

Sometimes, when you are applying credit cards from your own banks or ask for a credit limit increase, they do this kind of soft search as well but not always.

rodmace

izools wrote: »

Nope, that's wrong, they do a credit check on the applicant they just use a type of credit search called a "Soft Search" which isn't visible to any other creditors ergo doesn't affect the applicants credit score.

They will generate an APR of 24.4% with their loan quote tool if you'll fail the actual credit check and a limit of £500 and 19.9% APR with the credit card tool if you'll fail.

If you get offered anything above £500 on the limit or an APR of 15.9% instead of 19.9% on the £500 limit you stand a proper chance of approval

BTW, Nationwide use Experian for their applications and pre-applications, it's Barclaycard who use Equifax and occasionally Call Credit

Oh, I didn't know that! When I did the soft search, it gave me a quote with a limit of £5000 and a 15.9% APR. Seems okay.

bluedove

No, you are wrong here. They do a credit check flagged as 'administrative review' or 'quotation search' on your credit file, which can be seen by you and the CRAs only; Hence, it will not affect your credit score in other credit card issuers. In fact, I have my credit report checked couple of days ago with a nationwide 'administrative review' shown on it.

I did have their soft quote for credit card and a loan just before summer, i never went ahead with the application, however i checked my credit file in September and there was no records of nationwide for "administrative review" or "quotation search".

samwsmith1

izools wrote: »

Nope, that's wrong, they do a credit check on the applicant they just use a type of credit search called a "Soft Search" which isn't visible to any other creditors ergo doesn't affect the applicants credit score.

They will generate an APR of 24.4% with their loan quote tool if you'll fail the actual credit check and a limit of £500 and 19.9% APR with the credit card tool if you'll fail.

If you get offered anything above £500 on the limit or an APR of 15.9% instead of 19.9% on the £500 limit you stand a proper chance of approval

BTW, Nationwide use Experian for their applications and pre-applications, it's Barclaycard who use Equifax and occasionally Call Credit

They gave me £700 and 19.9% but then declined me .
Oh well, I don't need another card anyway, seen as I had already filled the form in I thought I may as well submit it.

Beki88

izools wrote: »

Nope, that's wrong, they do a credit check on the applicant they just use a type of credit search called a "Soft Search" which isn't visible to any other creditors ergo doesn't affect the applicants credit score.

They will generate an APR of 24.4% with their loan quote tool if you'll fail the actual credit check and a limit of £500 and 19.9% APR with the credit card tool if you'll fail.

If you get offered anything above £500 on the limit or an APR of 15.9% instead of 19.9% on the £500 limit you stand a proper chance of approval

BTW, Nationwide use Experian for their applications and pre-applications, it's Barclaycard who use Equifax and occasionally Call Credit

Mine came up at 19.9% for £2500 so would this mean I wouldn't be accepted?

simax

Beki88 wrote: »

Mine came up at 19.9% for £2500 so would this mean I wouldn't be accepted?

Mine was £2,000 and 19.9% APR and passed with flying colours.

Beki88

simax wrote: »

Mine was £2,000 and 19.9% APR and passed with flying colours.

I might go for it, most CC wont look at me because I don't work though the household income is good!

Just out of curiosity are there any places that do loans that do a similar procedure?

Simon7685

Why not just sign up for Noddle and get a free credit report every month for free.

rodmace

Simon7685 wrote: »

Why not just sign up for Noddle and get a free credit report every month for free.

Nationwide uses experian and you have to pay for their credit report at the moment, that's why I am thinking having a quote based on my experian record might be helpful.

I guess not many card issuers use callcredit or only use them as a backup

rodmace

bluedove wrote: »

I did have their soft quote for credit card and a loan just before summer, i never went ahead with the application, however i checked my credit file in September and there was no records of nationwide for "administrative review" or "quotation search".

Were you an existing customer of nationwide when you applied? If so, they might just conduct a internal review as you suggested instead of quotation search. I do not have any account with nationwide and I guess they have to do some sort of search to provide me with a quote.