Barclaycard need more information

anrutpea

My 0% apr on my capitalone card is expiring next month, I have been rejected for 1 0% card so applied for a barclaycard low rate card @ 7.9%.

When I applied the egg timer took a few minutes to come back with a decision and I got a message saying ' we need to get more information first, we'll let you know within a few days'

Does anyone know what this means? What information are they looking in to?

I have only asked for a balance transfer of £2400 and earn £22500 a year.

Is it usually a negative sign if they have to get more information first.

The only thing I can think of that's affected my credit rating is my grandad died last June and I missed a few payments (out of character) but since then I've made payments on time.

Any ideas?

BugsyBrowne

Missed payments=barclaycard decline.

Expect the rejection letter at the start of next week.

anrutpea

Well to be correct not missed just a paid halifax credit card and littlewoods a few days late.

That was 13 months ago now and I thought the damage may have been repaired?

BugsyBrowne

anrutpea wrote: »

Well to be correct not missed just a paid halifax credit card and littlewoods a few days late.

That was 13 months ago now and I thought the damage may have been repaired?

13 months ago isint that long ago as lenders search back a good 6 years and late payments are not going to look good.

Irn-Bru-Kid

I had the same thing when I recently applied for a Barclaycard. A couple of days later, I got an email confirming I had been accepted and I received my card about 10 days later.

Keep an eye on your email, you never know your luck!

izools

Have checked your credit files to see what has been reported about the late payments?

The credit scoring for the Barclaycard Platinum Simplicity is very strict so even old missed payments are likely to have a negative effect on an application.

Check your credit files before submitting any other applications - you may be lucky - if you only paid a few days late you might not even have been reported as paying late.

anrutpea

Yes the June payments to Halifax and Littlewoods were marked late. I did write to both as soon as I realised my error and made payments within 2 working days. I explained the reason and advised as I've a history of paying on time would they be able to not mark it as a late payment. Neither of them considered any circumstances so I put a notice of correction on my credit file to explain to lenders why there is a late payment.

Will wait for Barclaycard response. If this is rejected I'm looking forward to a nice 35% apr on my debt .........not

TastyTeeth

BugsyBrowne wrote: »

Missed payments=barclaycard decline.

Expect the rejection letter at the start of next week.

Not altogether strictly true!

I have recently been accepted for a Barclaycard Platinum with one missed payment from 3 years ago and a couple from 4 years ago. I've had the confirmation email and I'm just waiting for the card to arrive.

Admittedly the APR is a little higher at 19.9% and the credit limit isn't huge at £2k, but it would appear it doesn't always = decline.

I'm sure the cleaner your history the better the chance. But not always as black and white as you'd stated.

mgdavid

anrutpea wrote: »

My 0% apr on my capitalone card is expiring next month, I have been rejected for 1 0% card so applied for a barclaycard low rate card @ 7.9%.

When I applied the egg timer took a few minutes to come back with a decision and I got a message saying ' we need to get more information first, we'll let you know within a few days'

Does anyone know what this means? What information are they looking in to?

I have only asked for a balance transfer of £2400 and earn £22500 a year.

Is it usually a negative sign if they have to get more information first.

The only thing I can think of that's affected my credit rating is my grandad died last June and I missed a few payments (out of character) but since then I've made payments on time.

Any ideas?

less than ave earnings and two-and-a-half grand in debt? sounds like you live beyond your means, and B'card just might not want your business?

BugsyBrowne

mgdavid wrote: »

less than ave earnings and two-and-a-half grand in debt? sounds like you live beyond your means, and B'card just might not want your business?

what are you on about?

zerog

anrutpea wrote: »

Neither of them considered any circumstances so I put a notice of correction on my credit file to explain to lenders why there is a late payment.

Well I think that's the answer, maybe they have seen the notice of correction and a human needs to read it before making a decision.