Minimum Income and Eligibility Checker...

David333

Hello.

I've just used the eligibility checker on the main site, putting in an income of £15,000. The results say that the best offer for me is the Barclaycard at 32 months interest free, but on that results page it says that the minimum income for the Barclaycard is £20,000.

I guess that I have two questions. First, is that a problem with the system? Why would I be recommended a card that I just can't get? Secondly, does anybody know anything about the Barclaycard? Is it correct that the minimum income is £20,000 (I can't find anything on the website)?

Thank you!

greenorange

David333 wrote: »

Hello.

I've just used the eligibility checker on the main site, putting in an income of £15,000. The results say that the best offer for me is the Barclaycard at 32 months interest free, but on that results page it says that the minimum income for the Barclaycard is £20,000.

I guess that I have two questions. First, is that a problem with the system? Why would I be recommended a card that I just can't get? Secondly, does anybody know anything about the Barclaycard? Is it correct that the minimum income is £20,000 (I can't find anything on the website)?

Thank you!

I put in that I was a student on MSE, and it came back that I had a 90% chance of getting a Barclaycard Initial.

You cannot apply for a Barclaycard Initial if you're a student.

Definitely flawed.

YorkshireBoy

David333 wrote: »

Secondly, does anybody know anything about the Barclaycard? Is it correct that the minimum income is £20,000 (I can't find anything on the website)?

http://www.barclaycard.co.uk/personal/credit-cards/platinum-balance-transfer#tabbox2 (see the "best suited for" section)

JKSandy

Try Barclays own eligibility checker.

David333

YorkshireBoy wrote: »

http://www.barclaycard.co.uk/personal/credit-cards/platinum-balance-transfer#tabbox2 (see the "best suited for" section)

That was the section I was looking for. Thanks for directing me to it.

I guess I'll be looking elsewhere!

BadBehaviour

Well I have just tried the Barclaycard eligibility checker and it comes up with "very good chance" or "excellent chance" for all of their cards. My income is only 5K, so is it possible?.

I did manage to get a M&S card with 0% on purchases for 15 months, but I don't get it... I thought my income would be the only factor preventing me from getting a credit card...

thebritishbloke

BadBehaviour wrote: »

Well I have just tried the Barclaycard eligibility checker and it comes up with "very good chance" or "excellent chance" for all of their cards. My income is only 5K, so is it possible?.

I did manage to get a M&S card with 0% on purchases for 15 months, but I don't get it... I thought my income would be the only factor preventing me from getting a credit card...

Possibly, possibly not. A lot of BarclayCards better deals (i.e. 32 month 0%) require you have an income of £20k+ and a good credit history. It all depends on the individual lender, M&S is issued by HSBC so if you bank with them it would probably give you a better chance etc.

BadBehaviour

thebritishbloke wrote: »

Possibly, possibly not. A lot of BarclayCards better deals (i.e. 32 month 0%) require you have an income of £20k+ and a good credit history. It all depends on the individual lender, M&S is issued by HSBC so if you bank with them it would probably give you a better chance etc.

I bank with Lloyds and yes, the eligibility checker said I had a very good chance to get the 32 months 0% cards.

MumOf2

In my humble opinion, these eligibility checkers are a waste of time. I have a balance on a card for which the 0% period is running out soon and was hoping to transfer it to another 0% card. Made checks on specific eligibility checkers and applied for one of the 80% ones. Came back as rejected. Tried another one straight away and it was rejected too. No reason why - good income, spotless credit report. I assume both rejections will now show on my credit report so I'll just pay off the balance in July and put it down to experience.

thebritishbloke

MumOf2 wrote: »

In my humble opinion, these eligibility checkers are a waste of time. I have a balance on a card for which the 0% period is running out soon and was hoping to transfer it to another 0% card. Made checks on specific eligibility checkers and applied for one of the 80% ones. Came back as rejected. Tried another one straight away and it was rejected too. No reason why - good income, spotless credit report. I assume both rejections will now show on my credit report so I'll just pay off the balance in July and put it down to experience.

80% isn't the same thing as 100%, you may not fit the lenders specific criteria.

Being rejected doesn't show up on your report, a search just shows up.

You think you have a spotless report, but if you're holding a high balance, that isn't spotless to some lenders.

MumOf2

thebritishbloke wrote: »

80% isn't the same thing as 100%, you may not fit the lenders specific criteria.

Being rejected doesn't show up on your report, a search just shows up.

You think you have a spotless report, but if you're holding a high balance, that isn't spotless to some lenders.

Thanks for this advice.


MumOf2