How accurate is MSE's pre eligibility checker for credit cards?

BP1987

JKSandy wrote: »

Do you have a HSBC account or credit card? M&S credit cards are a subsidy of HSBC, maybe that's why?!

(I maybe be completely off the mark also)

I have a nationwide flex plus account but only recently opened it so i wont qualify for a nationwide credit card i dont think. i dont know how long to wait before i try applying for one. Im not sure whether to risk applying for a vanquis as 50% isnt really a good chance and i'm not sure howmuch to trust that percentage given that its showing 70% for M&S when i have no credit history. im a bit confused what to do. I dont want apply for stuff if im just going to get rejected but i need to apply for things if i am to inprove my rating.
Anyone know what the easiest things are to get accepted for that will help boost my credit rating?

Tixy

BP1987 wrote: »

Anyone know what the easiest things are to get accepted for that will help boost my credit rating?

Easiest to get in approx order

Credit builder prepaid card
Sim only mobile phone contract
Mobile phone contract
Catalogue Accounts
Sub prime credit cards

But also having a credit history from the top items is not necessarily viewed the same by a potential lender as having a credit history from credit cards/ normal loans / mortgage etc

BP1987

Thanks a lot
I think i'll see about a mobile contract and possibly a catologue, then look again in about 6 months time, i want to get a mortgage in a few years time so i need to start building a good report.

matttye

BP1987 wrote: »

Thanks a lot
I think i'll see about a mobile contract and possibly a catologue, then look again in about 6 months time, i want to get a mortgage in a few years time so i need to start building a good report.

If you get an "O2 refresh" contract (along with a handset) it will report both a loan and an airtime contract.

Just a thought

fuzzgun19

Does anyone actually get a 100% chance using this tool?

Tixy

fuzzgun19 wrote: »

Does anyone actually get a 100% chance using this tool?

No, they'll never guarantee acceptance through a tool like this based on a soft search and such limited information that is put on the checker.
90% is the top % chance it gives.

CreditCrunchie

I did it last month when my electoral roll details still hadn't been updated on my credit files and got 60-70% for everything and a random 80% for M&S (applied and got declined!). After my ER updated this month I did it again and got 90% for some cards, went for it and was accepted. So I'd say it is accurate if you're on the electoral roll.

eskbanker

CreditCrunchie wrote: »

I did it last month when my electoral roll details still hadn't been updated on my credit files and got 60-70% for everything and a random 80% for M&S (applied and got declined!). After my ER updated this month I did it again and got 90% for some cards, went for it and was accepted. So I'd say it is accurate if you're on the electoral roll.

And I'd say that from a statistical perspective it isn't realistic to extrapolate to that conclusion from a sample size of one!

reclusive46

Tixy wrote: »

No, they'll never guarantee acceptance through a tool like this based on a soft search and such limited information that is put on the checker.
90% is the top % chance it gives.

Thats not actually true. I had pre-approved show up on the checker for a Lloyds bank credit card.

bonjan

Tixy wrote: »

No, they'll never guarantee acceptance through a tool like this based on a soft search and such limited information that is put on the checker.
90% is the top % chance it gives.

I disagree: about two years ago my partner got a "pre-approved" (100%) result for the Halifax All In One CC.
That guarantees acceptance as long as you submit the very same information in the application as submitted in the eligibility checker.
Indeed he got the card.