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Barclaycard:Rated 70-80% Successful on 'Soft' Search - will I get it???

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Hi guys

Looking to shift some debt onto a 0% Balance Transfer card and have completed the Barclaycard 'Soft' search which says I have a 70-80% chance of being approved.

That is a bit lower than I would have imagined (999 on Experian) and I am worried if I go ahead with the application it may be rejected.

Anyone been in the same boat or got any advice on what the extra 20% of checks might be?

Thanks
Will
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Comments

  • I'd guess you have a 70-80% chance, assuming its their own checker and not the one on here
  • Thanks for replying - Yes it was their own checker.

    I suppose I was wondering what sort of things could put me in 20% worth of doubt with such a good score on Experian?

    I do not want a decline on my file so am a bit cautious about proceeding when I could be declined.

  • That is a bit lower than I would have imagined (999 on Experian)

    Unfortunately, Experian always seem to be reluctant to lend any money at all, despite their apparent confidence in everyone.
  • Unfortunately, Experian always seem to be reluctant to lend any money at all, despite their apparent confidence in everyone.

    Thanks for your post. Sorry if I am being Dim but are you saying that Experian may still advise a card issuer that I am in some way not suitable?
  • Thanks for your post. Sorry if I am being Dim but are you saying that Experian may still advise a card issuer that I am in some way not suitable?

    No.

    Experian will supply factual information about you.

    The card issuer decides what it considers suitable.

    Experian's "we'll give you a number in return for a fee" service is useless as Experian don't lend to individuals.

    Get on the voters' roll, pay your bills on time and life looks after itself for most.
  • No.

    Experian will supply factual information about you.

    The card issuer decides what it considers suitable.

    Experian's "we'll give you a number in return for a fee" service is useless as Experian don't lend to individuals.

    Get on the voters' roll, pay your bills on time and life looks after itself for most.

    Thanks for that Peacefulwaters. i do all of those things.

    One thing that I was wondering was regarding my home ownership situation.
    I own a house but currently do not reside there and rent another place. The rental property is my current main address for banking, electoral roll etc and when asked way my residential status is should I be putting Home owner or tenant?
  • Voyager2002
    Voyager2002 Posts: 16,251 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You might be accepted, you might not. But what do you stand to lose by applying? A few minutes... unless you are about to apply for some other financial product and fear that your credit rating might be damaged by another search.

    In practice: 1. your file would only record that you applied to Barclaycard, not whether or not you were declined; 2. what damages your rating is a large number of applications rather than a single application, regardless of the outcome of that application.

    As posted above, your credit score is meaningless and you should not be wasting money on it.
  • You might be accepted, you might not. But what do you stand to lose by applying? A few minutes... unless you are about to apply for some other financial product and fear that your credit rating might be damaged by another search.

    In practice: 1. your file would only record that you applied to Barclaycard, not whether or not you were declined; 2. what damages your rating is a large number of applications rather than a single application, regardless of the outcome of that application.

    As posted above, your credit score is meaningless and you should not be wasting money on it.

    Well it's free so no money wasted!

    If I do not get the BarclayCard then yes I will be making further applications as I'd like to move the debt to a 0% deal. If I get a couple of declines I'd be heeding down the damaging multiple applications route.
  • Kim_13
    Kim_13 Posts: 3,412 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    It could be that your income isn't far above the minimum required for the card. I don't think the Experian credit score takes into account income.

    I doubt they would ever give out a 100% on their checker as there are bound to still be some who would interpret that as a guarantee of being accepted. 90 is probably as high as it goes.
  • Kim_13
    Kim_13 Posts: 3,412 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    Well it's free so no money wasted!

    If I do not get the BarclayCard then yes I will be making further applications as I'd like to move the debt to a 0% deal. If I get a couple of declines I'd be heeding down the damaging multiple applications route.

    In your situation I would try checkers for other 0% cards first and then apply for the one coming out with the highest score.
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