Pre selected online barclays loans and overdraft increase

ANTWAR72

Hi All
Please could any of you take time to clear things up for me regarding this :

Barclays online banking has now pre selected me for a loan of upto £10,000 and overdraft increase from £100 up to £900,also pre selected for a barclay card but does not say which one!
Does this mean i would be accepted if i applied?Or are there further credit checks involved as i dont want to have a negative footprint, as i have already fell into the trap of a negative spiral applying for a creditcard.Equifax report says score of 334 with 2 searches at current address and 2 at previous address.By October all seaches should be clear.i have no adverse history and no missed payments on my 2 credit account.
Any help would be much appriciated as i need to get credit to up my cedit score!!

stephane_2

Pre-selected does not mean automatic acceptance....they will conduct a full credit search before reaching their decision.

stephane_2

Having only 2 searches at your current address which are dropping in October is very low and I would not worry too much about that...

BugsyBrowne

stephane wrote: »

Pre-selected does not mean automatic acceptance....they will conduct a full credit search before reaching their decision.

Not true as Barclays PRE-approved me on loan and no searches were made.

I also had the 10k approved like the OP but didn't ask for 10k.

ANTWAR72

Hi thanks for the above.Do you know if the pre selected credit card offer will follow in time and will they offer a specific card?
Thanks

AMG762

There is a difference between pre-approved and pre-selected

I used to have pre-approved offers for a loan and overdraft. I accepted the overdraft. I only had to tick a box to say my circumstances had not changed, no credit check was performed, and the overdraft was active immediately.

With pre-selected offers, you will be put through a full credit search, and you could be declined.

Previously i have had a pre-approved loan and overdraft but only pre-selected for a Barclaycard.

iluvsaving

stephane wrote: »

Pre-selected does not mean automatic acceptance....they will conduct a full credit search before reaching their decision.

This is true

BugsyBrowne

iluvsaving wrote: »

This is true

Yep my mistake on that I thought the OP was PRE-approved not PRE-selected.

richard734

Barclays and Barclaycard use different credit assessment criteria. As far as I know, a pre-selected offer from the bank side to the Credit card side will just result in the application form being pre-populated with data when you click the button for an online application.

Cash_Flow

ANTWAR72 wrote: »

Hi All
Please could any of you take time to clear things up for me regarding this :

Barclays online banking has now pre selected me for a loan of upto £10,000 and overdraft increase from £100 up to £900,also pre selected for a barclay card but does not say which one!
Does this mean i would be accepted if i applied?Or are there further credit checks involved as i dont want to have a negative footprint, as i have already fell into the trap of a negative spiral applying for a creditcard.Equifax report says score of 334 with 2 searches at current address and 2 at previous address.By October all seaches should be clear.i have no adverse history and no missed payments on my 2 credit account.
Any help would be much appriciated as i need to get credit to up my cedit score!!

The loan and O/D are both pre approved and no credit search will be needed.

The credit card is pre selected and a full credit search will be carried out.