Barclays Pre-Approval and Credit Checks

ahd91

Hi all,


My wife was recently declined for a top-up Barclays loan towards the very end of the current one, after already having been pre-approved for a new limit through online banking, and the person over the phone couldn't explain why.


We think there could be two reasons and some advice would be good:


Firstly, my wife's name on the electoral role is in her maiden name, where the bank in her married name so we thought maybe there was an issue there. Having read a bit about it, it seems unlikely that this would be a hindrance - lenders usually check both names?


Secondly, my wife's credit rating is much better than mine. Initially we thought that our financial association was harming her application, but when I checked my report, there is no trace of Barclays ever having looked at it.


My wife uses her Barclays loan for day-to-day living, and her wages go into it, she's never missed a payment in her life and we have very low debt.


Any ideas why Barclays might pre-approve and then decline?


Many thanks.

Foxy-Stoat_3

The pre-approval was just marketing BS so that you apply for the loan.

If it was pre approved with a new limit then it wouldn't of been declined and they would of already carried out a credit check.

intheknow15

Hi I work at Barclays, if you have been 'pre approved' almost all applications will go through. However when you submit an application it takes into consideration all of your financial information at the time of submission. If this has changed then you will be declined even if you had limits at time of application. The limits get refreshed every month and some times immediately. You should of been given an explanation as to why it was declined. If you visit your branch they will have this information. My gut feeling having read your information is that the application was probably not accurately processed or the budget planner did not support the new repayment to our satisfaction again with very basic information.


Its not going to affect your credit scoring as offers with limit do not leave footprint on your file (they have been assessed as within parameters). We don't use pre approved limit terminology within the branch as is online as it is technically subject to all information at time of submission.


Hope this helps you. Again you should visit your branch to get more information.