Nationwide Card Acceptance

mdamusicgroup

Hello,

I recently tried to apply for a Nationwide mortgage which was declined. I looked into it and my credit score is fair (878) mostly due to not having previous sources of credit.

My plan is to get a credit card and pay off each month to help build my score. Im going for a nationwide card as all my other banking is with them, keeps things simple.

The thing is I am worried they will decline me as well, which will then leave a further denial on my credit report making everything far worse.

It seems a bit silly as I would only want a tiny credit limit, have a salary of £50K + per year and have over £40K of savings with nationwide. Are these things likely to help an approval or do they only go on the credit score?

I have completed the online form and they have offered my a quote of £1000 credit limit at 19.9% APR. I understand this is at the low end of what they usually offer and could mean they decline?

Does anyone have any experience of getting approved/declined at those numbers?

Thanks for your help.

Gizmo247

Start with Nationwide as there are no better guarantees elsewhere but perhaps apply in person at a branch.

mdamusicgroup

Would that make a difference, I would have assumed when it comes to it they need to press the same "Credit Check" button no matter if its online or in a branch?

Gels

General opinion on here is that 19.9% with low limit is a decline (although there will always be an exception). Barclaycard have a 'starter' card called Initial and they have a soft search option too:

http://www.barclaycard.co.uk/personal/credit-cards

Failing that it will be Vanquis, Aqua or Capital One to try!

Good luck.

RichL74

Before clicking the apply button, pay £2 to Experian to see what they hold on you.

Not the score, what bits and bobs you may have lurking from your past that you may not be aware of.

19.9% / £1000 has meant decline in the past, but also some people have been accepted on it.

But I would look at your report first of all before clicking that 'apply' button.

mdamusicgroup

Yes I have checked the Experian report, the only negative factor showing up is I have no recently settled credit accounts.

izools

What does this come back with?

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

RichL74

I think the Barclays checker is just cobblers too.

It said I had 90% chance of a Initial card then turned me down.

wizzywig27

RichL74 wrote: »

I think the Barclays checker is just cobblers too.

It said I had 90% chance of a Initial card then turned me down.

Did that too me as well, I complained and they overturned decision giving me £300 limit, 6 months later upping it to £750. I later applied for the lower end platinum (after asking for a rate decrease) they declined me to I emailed in and threatened to leave, they lowered APR to 18.9% which is now the lowest rate card I have, others being Vanquis 59.9%, Halifax 21.9% (21 months interest free BT) and Creation 24.9% (12 months interest free BT)