Declined for loan/car finance

ontherightrack

So I've banked with barclays for 4 years now and I have a barclaycard initial CC which I've kept in good standing (not always paid in full but always paid at least 4 x the minimum) its for £800 and I bought car insurance on it and paid it off within the month last month.

I've worked for nearly 3 years and always been paid into my current account, my account is normally around £20-100 as I take money out each week as I prefer to save my money in cash.

I booked an appointment for a loan adviser at barclays we went through my outgoings and then to my surprise she asked me if I has a job, although I've been paid every week in that account.

I said yes so she said "well we have you down here as unemployed so ill change that" as soon as she did that she said I couldn't get a loan as I was unemployed ,but she could appeal in around 3 months as I now have updated my information. Just looking for some advice do I need to

- save money in a savings account so its visible to them
- put it into my current account
- go elsewhere

parksajj

Rate would be bad

What car you want? New used etc. Also whats your savings like & your annual income?

ontherightrack

parksajj wrote: »

Rate would be bad

What car you want? New used etc. Also whats your savings like & your annual income?

i earn 17k a year

looking at a used car but from private seller as usually a better deal

I have around £500 at the moment but im saving around £100/week

looking to borrow £3k over 3 years the same car at a dealer is around 5k

parksajj

You're not going to get a Barclayloan for a Used Car for 3k

You need a credit card.

What's your credit like (not score) but payment history etc.

ontherightrack

parksajj wrote: »

You're not going to get a Barclayloan for a Used Car for 3k

You need a credit card.

What's your credit like (not score) but payment history etc.

im only 20 so limited my barclaycard history is very good and they've bumped my limit upto £1k since my appointment. they've also given me the choice to transfer to my current account for 2% fee and 0% until november.

I'd look at a credit card but the limit for a barclaycard initial is 1200 and im not sure if using two cards for one purchase would be wise

parksajj

I will suggest this.

Go to nationwide and apply for the 15 Months 0% Purchases card (it's black)

Get to the page that says we can offer you... It will say a credit line and the APR rate.

DO NOT CONTINUE.

Reply with the APR and credit limit.

parksajj

If you only go to the bit on the application where it gives you the apr and credit limit it's a soft search quotation.

ontherightrack

parksajj wrote: »

I will suggest this.

Go to nationwide and apply for the 15 Months 0% Purchases card (it's black)

Get to the page that says we can offer you... It will say a credit line and the APR rate.

DO NOT CONTINUE.

Reply with the APR and credit limit.

will this display my available limit and APR with them without making a commitment then?

parksajj

ontherightrack wrote: »

will this display my available limit and APR with them without making a commitment then?

Yep

Just don't click continue with application or it will do a full search :P

ontherightrack

parksajj wrote: »

Yep

Just don't click continue with application or it will do a full search :P

its £500 @ 17.9%

parksajj

You wouldn't get it