MSE soft check inaccurate

fuzzgun19

Maybe a poll should be added to this thread, to see how many people are getting inaccurate results with the mse checker?

PeacefulWaters

Cpu2007 wrote: »

I know statistically it's not right to say that the result given by the soft checker are inaccurate as I might be the 10%

So why say it then?

but I'm just wondering whether such a disparity between the soft search result and the actual result it's acceptable.

You are a sample of one. Therefore the statement you make here is ridiculous.

They said there was a 10% chance of getting the card. You got the card. Beyond those facts you know absolutely nothing.

adindas

Cpu2007 wrote: »

Hi everyone

just wanted to let you know that for the past days I have used the MSE soft credit check to see what chances I have to get a credit card.

I found out that is quiete inaccurate so I thought I might just let you know.

I did a soft credit check for the santander 18% interest free cc and came back with 10% chances of getting the card(that's very low so I thought I won't apply for that card)

Then , today I thought I go to the branch and just give it a try even if it will affect my credit score,I'll try and ask them why I got rejected. I went there and got accepted straight away after they did the credit check.

I think there's too much disparity between the soft credit check score and reality in my case. If the soft credit check came back with 50-70% chances of getting the card,it would have been more appropriate.
10% makes me think that basically my chances are close to null.

If you do not have bankruptcy, unsettled defaults, severe in arrears, CCJs then the final decision will depend on the person who interview you.

You know when you sit together with a person in a branch s/he has the chance to scrutinize further and if s/he is in doubt s/he will ask for clarification and you are there to explain.

YorkshireBoy

adindas wrote: »

If you do not have bankruptcy, unsettled defaults, severe in arrears, CCJs then the final decision will depend on the person who interview you.

You are so very far off the mark here it's untrue! And you've been told this before, but still you perpetuate it. Why?


The "person" in front of you is simply 'keying' the application. The computer asks the questions. The person (and I mean no disrespect to any bank staff here) is on, say, £14-16K per annum pro-rata, works perhaps 3 days a week and every other Saturday morning, and has no say whatsoever. Imagine the conversation...


What's your salary?
£10K
Hmmm, the computer might not accept that. Let's say £15K shall we?


How long have you lived at your address?
3 years 2 months
Hmmm, that's not a long time is it? How about I put down 7 years 4 months?


What's your job type?
Manual worker
Hmmm, but you stay fairly clean at work don't you? So let's put 'professional' eh?


There we go [presses submit]
.
.
.
Oh dear, I am sorry you've been declined. Never mind, you look a decent chap so I'll simply override the system for you.

Is there anything else I can help you with today?

wellsy07

Yorkshire boy, brilliant!

Anyways....

To be fair amongst all the egos on the thread

Summary is,

Mse eligibility test is a test for reason and hence no
Trace left on your file.its a theory test of basic info

If thers more than 0% then you've got a chance, however remote.

Theres one way too see......apply(if You know your file You should know
Your chances?)
IGNORE the "credit score" and concentrate on the actual information
Within file, as many have said before me

I personally have found it completely accurate,and have a file
That's got bullet holes from checking

Cpu2007

PeacefulWaters wrote: »

So why say it then?


You are a sample of one. Therefore the statement you make here is ridiculous.

They said there was a 10% chance of getting the card. You got the card. Beyond those facts you know absolutely nothing.

Why am I saying it ?
simply because I'm not talking about statistics here, I'm talking about perception.
As I explained earlier, when I see a result giving me 10%, regardless of the statistics, it puts me under the impression that I have very low or not chance to get the card and I have reason to believe that this happens to many other people.
I'm not trying to criticize the system being used here, I'm simply wondering whether it's a case that it might not be giving out accurate information, reason why I came in here to see whether someone else been in a similar situation.
As someone suggested, a poll might be a good option to see the accuracy of the system as obviously my case alone doesn't stand at all.
I might be wrong but there are chances of me being right as well for the simple fact that if the system gives you a rough idea about the result, it would be good to know what's the margin error in it.

CreditCrunchie

I got 10% for the MBNA card then went ahead anyway and was accepted! Got 90% for M&S & was rejected. I do think it's fairly good overall though. I believe it takes its data from callcredit/ public data, so if that is considerably different from what's on your experian and equifax that would explain the discrepancy.

Herbalus

I don't think it works either, but it won't get removed from MSE. They don't even run it, they've just got their own skin on a tool run by another firm called HD Decisions.

1 in 10 chance seems completely arbitrary to me. If it means that 1 person out of 10 applicants with those details will get the card, then statistics do not mean anything in the CC market, as surely if somebody with those details can get the card, the other 9 people should get it as they have the same details!

It also works with Callcredit, which pulls ratings out of its ears. Whenever I check my report it gives me a 'score' of 2/5 and suggests cards for people with bad credit, yet everything on my file is in perfect order and I was pre-approved by Santander for the top 18 months 0% purchases card last week.

fuzzgun19

I think there are loads of people this hasn't worked for, and it either gives you false hope, or false impression of (next to) no chance.

leeroy2009

id take anything that says with a pinch of salt, it does not know the full circumstances of the applier, it could say 0% chance and yet you could still get accepted on a full application, just like it could say 100% and yet you could be declined on the full application - its not a credit application search, so not to be trusted or relied up on