0% card pre-apply eligibility checker shows 90% and I was rejected - please help!

pawelbmw5

Hi everyone.

I am new to forum but regularly use MSE website for all kind of advice.

I need to buy small old'ish car for my wife and though 0% credit card will be the best option as paying it of within year would be no problem. I already have Tesco 0% which I have used for 14 month and managed to pay it off on time.

0% on Tesco finished in February so I decided to apply for new one. Firstly, as advised, I have used pre-apply eligibility checker on MSE web and got 90% chances on one card (Fluid) and 80% on 4 others. I applied using links provided and was rejected on two occasions (Fluid and RBS). Did not try anymore as I know applying for too many also marks my credit score.

Up to this time I thought my credit score is very good. I am a little bit scared what went wrong and not to sure what to do. Any advice and help would be much appreciated.

Regards

P.S. Credit cards (when used) are always paid on time, mortgage, mobiles, broadband and all other utilities are paid by direct debit so are always on time.

mycvattached

It is very unusual. I used pre-checks several times and has not been rejected. Have you tried to check your credit file. Start from Noddle, its free and get free trial for Equifax and Experian. You could have been rejected for a number of reasons and it is almost impossible to guess what was the problem. Also you have to understand that banks assess you as a potential source of profit and not just as a low risk group.

Check credit file first and look for any inconsistencies such as different addresses, financial associates etc. By the way financial associates could easily create this problem as they would not be checked by pre-eligibility tool.

Cycrow

also, how much credit do you currently have ?
and what is your current income ?

CherlokHomes

There's only one soft search that's worth doing IMO where they actually search the CRA they'll use when credit searching you and that's Nationwides all the rest are poo

LittleMissDetermined

This also happened to me when I applied so I could do a balance transfer, not missed any payments etc and in current employment for 5 years now... I am going to start by checking my credit file as I thought this was good up to now!

One colleague has recently failed a credit check due to 'employer credit status' not sure what this means or even if it's fair to score an individual on the company they work for...

The_Boss

You don't have a fixed credit score - different lenders score you differently.

izools

Pre-applicaiton checkers are never 100% -

My OH was told by the Barclaycard pre-application checker in February he had no chance on any of their cards, but applied anyway, and was given a £6,700 limit on a Platinum card with 0% for 25 months.

Conversely, my mother had looked for a travel credit card and the Moneysupermarket pre-application checker said she had 9/10 chance for loads of cards including Halifax Clarity - applied, instant decline!

Fluid is backed by MBNA who are quite strict, RBS have odd criteria.

They both search Experian.

You might want to try Barclaycard - they search Equifax - this means that a) barclaycard won't see that you've made two applications elsewhere and b) it won't further reduce your credit rating at all.

Barclaycard have their own pre-application checker - couldn't hurt to give it a bash:-

https://letmechoose.barclaycard.co.uk/?source=homepage-rhnav

StuC75

The checkers only rated you at 80-90%, thats not a guarantee that you would actually get it.

Check what your credit rating is looking like, not just the score.

It may be that you have a lot of 'available' credit being the credit 'tart' and picking the best deals.. So you may not match the profile of who they want to make money from..

Maestro.

izools wrote: »

Fluid is backed by MBNA who are quite strict, RBS have odd criteria.

I keep hearing this, but then I read on this very site that they are supposedly a slightly easier lender? They also gave me a card, so they can't be that strict, as I had no credit history 2 years ago.

I'd also be quite interested to see if you have any idea what RBS' criteria might be... as I quite fancy their Yourpoints card eventually.

CherlokHomes

My Missis don't give a Tos* about credit files etc but she wanted to apply for a Barclaycard so she joined Equifax & Experian as she hasn't had a free trial off them before.

Anyway she applied and was excepted for a barclaycard and looked again at her credit files and I was shocked when barclaycard searched both her Equifax & Experian.

I've never seen BC search Experian

LittleMissDetermined

izools wrote: »

You might want to try Barclaycard - they search Equifax - this means that a) barclaycard won't see that you've made two applications elsewhere and b) it won't further reduce your credit rating at all.

Barclaycard have their own pre-application checker - couldn't hurt to give it a bash:-

I cannot thank you enough for this link, I gave it a shot this morning and have been accepted with a limit enough to transfer both card balances and its 27month at 0% so I am set to save at least £1000 in interest fees.

You are an angel :A