Tried for a nationwide credit card, was offered the best card during quotation BUT

ebook

Tried for a nationwide credit card quotation online (so it wont leave anything on my credit report), was offered the best card during quotation (0% for 6 months, etc), and when I clicked the "Apply" button, fully aware that this now will leave the search on my credit report BUT also fully expecting to get the credit card since I passed the initial quotation with flying colors (was offered £2500 limit - greater than their usual £1200 limit, etc, and more months on 0% interest free as well). I also work fulltime for same employer for many years, salary over 30k, homeowner, etc. But after applying for the card, I am taken to a screen saying they cant offer me the credit card, that they check experian and credit reports to make their decision, which is final.

I am worried that now if i apply for a credit card with another company, they may reject may cos of the trace left by nationwide on my credit report.

Why are they allowed to do this? First they offer something better than their best deal, so you are obviously expecting to get at least their best deal, and then on next screen, boom! They offer nothing and leave a trace on credit report.

MrSilk

The quotation given is based on the information you provided in the quotation form, only after you commence with applying for the card will they then take a look at your credit profile.

Are there any nasties on there?, late payments? defaults?

ebook

MrSilk wrote: »

The quotation given is based on the information you provided in the quotation form, only after you commence with applying for the card will they then take a look at your credit profile.

Are there any nasties on there?, late payments? defaults?

non, none of that sort. I have a big mortgage though. But I am in full-time employment and thought a credit card for christmas shopping is beneficial for many reasons, mainly security. I have no credit cards at the min.

jpb77

MrSilk wrote: »

The quotation given is based on the information you provided in the quotation form, only after you commence with applying for the card will they then take a look at your credit profile.

Are there any nasties on there?, late payments? defaults?

The quotation also looks at your credit report with Experian also known as a soft search, they done this when I applied then a hard search was recorded after accepting the quotation which resulted from the soft search.

[Deleted User]

ebook wrote: »

was offered £2500 limit - greater than their usual £1200 limit

£1200 isn't their normal limit. That's the illustrative limit for the representative APR.

And without doing the full search, they can only give you an indicative decision, as you've found out.

jpb77

ebook wrote: »

Tried for a nationwide credit card quotation online (so it wont leave anything on my credit report), was offered the best card during quotation (0% for 6 months, etc), and when I clicked the "Apply" button, fully aware that this now will leave the search on my credit report BUT also fully expecting to get the credit card since I passed the initial quotation with flying colors (was offered £2500 limit - greater than their usual £1200 limit, etc, and more months on 0% interest free as well). I also work fulltime for same employer for many years, salary over 30k, homeowner, etc. But after applying for the card, I am taken to a screen saying they cant offer me the credit card, that they check experian and credit reports to make their decision, which is final.

I am worried that now if i apply for a credit card with another company, they may reject may cos of the trace left by nationwide on my credit report.

Why are they allowed to do this? First they offer something better than their best deal, so you are obviously expecting to get at least their best deal, and then on next screen, boom! They offer nothing and leave a trace on credit report.

Your allowed a maximum of 3 searches with in a 6 month period. So if you only have one you search after Nationwide, you could apply for another but not guaranteed acceptance.

MrSilk

Maybe your mortgage is the issue, if you do have a substantial amount owing, debt to salary ratio.

ebook

MrSilk wrote: »

Maybe your mortgage is the issue, if you do have a substantial amount owing, debt to salary ratio.

thats what i think as well. But I make my payments regularly and no defaults and more importantly, never had a credit card. Surely, I am entitled to one credit card even if I have a huge mortgage.

jen245

Its probably more to do with the fact you have never had a credit card before. You will probably be better applying for one of the sub prime cards, Aqua, Vanquis or Barclaycard Initial, to allow you to build up some proper credit history.
Mortgages are viewed differently by lenders, to unsecured credit (credit cards, loans etc) as they are secured on your home, so as far as they are concerned, they dont know if you can be trusted with a credit card, as you have no history of being able to manage one.

BugsyBrowne

ebook wrote: »

Tried for a nationwide credit card quotation online (so it wont leave anything on my credit report), was offered the best card during quotation (0% for 6 months, etc), and when I clicked the "Apply" button, fully aware that this now will leave the search on my credit report BUT also fully expecting to get the credit card since I passed the initial quotation with flying colors (was offered £2500 limit - greater than their usual £1200 limit, etc, and more months on 0% interest free as well). I also work fulltime for same employer for many years, salary over 30k, homeowner, etc. But after applying for the card, I am taken to a screen saying they cant offer me the credit card, that they check experian and credit reports to make their decision, which is final.

I am worried that now if i apply for a credit card with another company, they may reject may cos of the trace left by nationwide on my credit report.

Why are they allowed to do this? First they offer something better than their best deal, so you are obviously expecting to get at least their best deal, and then on next screen, boom! They offer nothing and leave a trace on credit report.

You failed their final search due to you being a high risk.

Tixy

ebook wrote: »

thats what i think as well. But I make my payments regularly and no defaults and more importantly, never had a credit card. Surely, I am entitled to one credit card even if I have a huge mortgage.

Nobody is entitled to a credit card.

But if you want one and haven't had one before then it may be worth applying with your own bank.
Do you have any other credit agreements on your credit reports other than the mortgage? Do you have an overdraft? Do you use it every month? occasionally? never?

Once single recent search is unlikely to effect a potential lenders decision, so the nationwide search shouldn't be an issue. Lenders tend to get wary of multiple searches, so if you are declined a second time perhaps leave it a while before trying again.