Soft searches? help please

RB2012

Hi All,

I'm sure this has been asked on here before but I cant find the thread.

I believe Nationwide and Barclaycard operate these soft searches but what I wanted to know is, are all applications based on soft searches or do you have to specifically request a soft search is carried out?

I am looking to apply for a Nationwide Credit card to take advantage of their 0% balance transfer but am concerned about getting a rejection and having a search on my credit rating.

Any help greatly appreciated
Cheers

Gromitt

The pre-application check is normally a soft search and gives you an idea if you'll be accepted.

The actual application will be a full search, and you might still be rejected.

zen135

RB2012 wrote: »

I am looking to apply for a Nationwide Credit card to take advantage of their 0% balance transfer but am concerned about getting a rejection and having a search on my credit rating.

The nationwide application process would quote you a credit limit and APR based on a soft search first after you have entered your details. If you are happy with the quote, you can proceed with the application, which will only then register as a full search.

Nationwide usually decline applications when the quoted APR and credit limit are 19.9% and less than £1000 respectively. So, I would advise you not to proceed with the application if you are quoted these figures.

RB2012

Cheers - I'll give it a go!

BugsyBrowne

zen135 wrote: »

The nationwide application process would quote you a credit limit and APR based on a soft search first after you have entered your details. If you are happy with the quote, you can proceed with the application, which will only then register as a full search.

Nationwide usually decline applications when the quoted APR and credit limit are 19.9% and less than £1000 respectively. So, I would advise you not to proceed with the application if you are quoted these figures.

I very much doubt anyone would bother going ahead with the application if they are only a grand credit limit with 20% apr.

Gromitt

BugsyBrowne wrote: »

I very much doubt anyone would bother going ahead with the application if they are only a grand credit limit with 20% apr.

Yet, on this very forum, someone accepted a Tesco CC with a £750 limit.

I know someone at work who has a Tesco CC with a £400 limit. I think Tesco are just strict, as they applied to Nationwide a week later and got a £3500 limit. Cue Tesco CC never to be used!

Maestro.

Gromitt wrote: »

Yet, on this very forum, someone accepted a Tesco CC with a £750 limit.

I know someone at work who has a Tesco CC with a £400 limit. I think Tesco are just strict, as they applied to Nationwide a week later and got a £3500 limit. Cue Tesco CC never to be used!

Wow, £400? I'm surprised a prime card even goes that low, to be honest! Tesco are apparently strict, I just don't see the point when as you saw another lender will give many times more.

Venusflytrap

I got a Halifax Clarity CC with just a £600 limit and even after 1 year of good use+repaying in full I got declined a CC limit increase. However in the same year AmEx was happy to approve a £2.6K limit at it's lowest APR and also NW Select approved a 2K limit at 9.9%.

Just to reiterate a point already made that some lenders are more tight-fisted than others.

Gromitt

Maestro. wrote: »

Wow, £400? I'm surprised a prime card even goes that low, to be honest! Tesco are apparently strict, I just don't see the point when as you saw another lender will give many times more.

I don't see the point either, but the card holder is quite happy, as after he got the card, I got him to fill in a friend recommendation form and we both got 1000 tesco points which we exchanged for £40 in pub meal vouchers for each of us. So it cost Tesco £80 and he has no plans to use the card because of the stupidly low limit!

jason1231972

Maestro. wrote: »

Wow, £400? I'm surprised a prime card even goes that low, to be honest! Tesco are apparently strict, I just don't see the point when as you saw another lender will give many times more.

I applied for a Tesco card recently (got it), and the application process was more lengthy than others. I found myself having to tick boxes to confirm that I understand how credit cards, debt, etc. works. Slightly patronising (and more than likely a mere !!!-covering exercise for them), but pretty rigorous.

Re: low limits...to be fair, I think Tesco's income eligibility is something like £5,000? I don't know, off the top of my head, any other prime cards (with such a good promo, too) that offer to such low incomes.