Nationwide credit card, decline or acceptance?

Hunterz1_2

Hi guys, I've applied for a nationwide card I earn 22,000 a year, lived at the same address for over 17 years, with parents. Hold two credit cards...

I am 19 years old, never missed a payment, no defaults, ccjs.

I went on the phone today to upgrade my nationwide basic account to a full current account. no problems.

went online to apply for their - http://www.nationwide.co.uk/creditcard/credit-card/offer-deals.htm?ex=Purchase_Overview

low balances on my current cards..

soft quote came back with an apr of 15.9 with a credit limit of 2800, i reduced it to 2400, set up the direct debit, choose to plan in full each month..

subbmited the application, came back with the following.

Confirmation
Thank you, your application has been safely received.

Your application reference is zxxxxxx

We will need to carry out some further checks before we can complete your application and will contact you in the next 10 working days to advise you whether we can progress your application.

If we need to make changes to the terms we can offer you we will let you know in writing.

Got a question?

chances of being accepted?

izools

Well given they quoted you 15.9% APR and the highest they offer is 19.9% APR, you stand a very good chance of acceptance.

Lots of people have posted about being turned down for a Nationwide card here but that's only ever been when they were offered either a 19.9% APR, or a £500 limit (or both).

No one who's been offered a 15.9% APR with a four figure credit limit has posted on here about being turned down.

They may just want to manually review it due to limited credit history or having just applied for another Nationwide product, but all things being in order I reckon you'd have a pretty good chance

You should receive a credit agreement to sign and return in a week or so.

Hunterz1_2

izools wrote: »

Well given they quoted you 15.9% APR and the highest they offer is 19.9% APR, you stand a very good chance of acceptance.

Lots of people have posted about being turned down for a Nationwide card here but that's only ever been when they were offered either a 19.9% APR, or a £500 limit (or both).

No one who's been offered a 15.9% APR with a four figure credit limit has posted on here about being turned down.

They may just want to manually review it due to limited credit history or having just applied for another Nationwide product, but all things being in order I reckon you'd have a pretty good chance

You should receive a credit agreement to sign and return in a week or so.

I'm not getting excited quite yet. but.... OMGGGGGGGGGGGGGG!

This will allow me to close down cap1 secure card when I have it for 1 year, along with vanquis and just stick to the decent cards!

I said I wanted to pay it in full each month, can I change this if I get accepted?

rb10

Hunterz1 wrote: »

I said I wanted to pay it in full each month, can I change this if I get accepted?

Yes, you can change your payment amount whenever you like.

Bear in mind that if you do change the DD, it may not take effect until the next statement is produced.

Hunterz1_2

I digitally signed the terms and conditions and agreement, but did not signed my named. I'm praying I get a accepted!

I kind of wished I left it at the 2800 credit limit they offered, but it can't be viewed negative if I knocked it down to 2400..

BugsyBrowne

Hunterz1 wrote: »

I digitally signed the terms and conditions and agreement, but did not signed my named. I'm praying I get a accepted!

I kind of wished I left it at the 2800 credit limit they offered, but it can't be viewed negative if I knocked it down to 2400..

You've defiantly been accepted and would of got the 2.8k limit to.

mrpsmith

Check to see if the direct debit gets set up in your current account; that's a good sign you've been accepted. My DD appeared in my Santander account 2 or 3 days after applying.

BugsyBrowne

mrpsmith wrote: »

Check to see if the direct debit gets set up in your current account; that's a good sign you've been accepted. My DD appeared in my Santander account 2 or 3 days after applying.

Op doesn't need to check his DD's he's been accepted.

mrpsmith

BugsyBrowne wrote: »

Op doesn't need to check his DD's he's been accepted.

We all know that, but he's looking for confirmation of that, and the DD being set up is one more step towards him actually having the card in his hand.

premiere

Went through the Nationwide application.

It did the soft search, came up with the high rate of 19.9% and a limit of £1000.

Had to tick a box to say I had read the Terms and Conditions etc, clicked through submit and it immediately without hesitation came up with a decline after reviewing my credit record (still got a default from May 2007 so not surprised). Can't remember which CRA Nationwide used Experian or Equifax.

If it's going to be an immediate decline after a soft search, then just decline it after that. There's no point in making some acknowledge an 'offer', acknowledge Terms etc etc and then declining.

Hunterz1_2

many thanks guys. Will check internet banking on friday..

do you think I should give NW a call to see if there have any updates? Or should I just hold off a bit!? :P