BOS student card - credit policy decline

20aday

401kill wrote: »

Just ran eligibility checks for MBNA and Nationwide.

MBNA can't find my details, so cannot quote.

Nationwide quote £750 @ 19.9% APR. Which sounds like it could well be a decline...

I've used the Nationwide 'soft search' facility in the past and I'm pretty sure a return of 19.9% APR is an automatic decline (irrespective of the limit offered).

Capital One also offer a 'soft search' facility on their website.

Earlier on in the year I paid my wages (cash) in at Lloyds Bank and when I told the cashier I was quoted APRs much higher than the 'headline rate' online I was taken into a private room.

I told them I was paid cash in hand and it was suggested to me having my wages paid by BACS.

Candyapple

401kill wrote: »

Just ran eligibility checks for MBNA and Nationwide.

MBNA can't find my details, so cannot quote.

Nationwide quote £750 @ 19.9% APR. Which sounds like it could well be a decline...

Why can MBNA not find your details? That plus the decline at Nationwide (19.9% is insta-decline), Barclaycard, RBS and Halifax suggests that it might be something else amiss on your credit report.

Have you tried sending a SAR to CIFAS?

401kill

20aday wrote: »

I've used the Nationwide 'soft search' facility in the past and I'm pretty sure a return of 19.9% APR is an automatic decline (irrespective of the limit offered).

Thanks for confirming that - thought I'd seen it somewhere before.

20aday wrote: »

Capital One also offer a 'soft search' facility on their website.

Just checked that, they will pre-approve me for a card with 34.9% APR, aimed at those with bad credit...

20aday wrote: »

I told them I was paid cash in hand and it was suggested to me having my wages paid by BACS.

I've always been paid by BACS, so should be OK here.

Candyapple wrote: »

Why can MBNA not find your details?

Not sure, all three CRAs managed to find me using the same details to generate my reports! I wonder if the others are also not finding all the details.

Candyapple wrote: »

That plus the decline at Nationwide (19.9% is insta-decline), Barclaycard, RBS and Halifax suggests that it might be something else amiss on your credit report.

I am getting the feeling that something is wrong and that, perhaps, lenders are not seeing all the info on my file. Can't figure out what though, because the CRAs all seem to hold correct information.

Candyapple wrote: »

Have you tried sending a SAR to CIFAS?

Not directly, but Noddle has a CIFAS section and shows no entries. Do you think it is worth going to them directly?

Candyapple

CIFAS won't necessarily show on your credit files, it depends on what cat marker it is. You would need to send them £10 directly for the SAR to see if there is anything.

Similar thread here and there are lots more on the forum:

https://forums.moneysavingexpert.com/discussion/5279801

Is your address a flat? A new build property? A named house e.g. Roseville? Basically anything out of the order that might mean it won't show up.

401kill

Candyapple wrote: »

CIFAS won't necessarily show on your credit files, it depends on what cat marker it is. You would need to send them £10 directly for the SAR to see if there is anything.

Ok, thanks. I'll put in a request to them then. Anyone else I should also be requesting data from who won't turn up on my file?

If they hold a marker for some reason, what chances do I have of getting that overturned?

Candyapple wrote: »

Is your address a flat? A new build property? A named house e.g. Roseville? Basically anything out of the order that might mean it won't show up.

It's a flat, but has it's own number on the street - no shared lobby or anything.

reclusive46

Candyapple wrote: »

CIFAS won't necessarily show on your credit files, it depends on what cat marker it is. You would need to send them £10 directly for the SAR to see if there is anything.

Similar thread here and there are lots more on the forum:

https://forums.moneysavingexpert.com/discussion/5279801

Is your address a flat? A new build property? A named house e.g. Roseville? Basically anything out of the order that might mean it won't show up.

CIFAS wouldn't show up on a soft search anyway.

Candyapple

@reclusive - there's a section in Noddle entitled CIFAS that the OP was referring to, I know it wouldn't show up as a soft search.

National Hunter is another one:
http://www.nhunter.co.uk/SAR.pdf

If you have a CIFAS marker you will probably need proper legal representation as you will have an almighty fight on your hands to get it removed, if possible because the company who put it there can only remove it. If you cannot get it removed you will not be able to obtain any credit for 6 years.

Hopefully you don't have one, keep us updated and good luck

401kill

Thanks for all the info. I'll let you know how I get on!

Went into Halifax branch today to discuss with a banking advisor, they have offered to review my letter of appeal to Barclaycard to maximise chances of success. Which was very nice of them, considering it's their competitor!

Also re-ran the MBNA check today, think I must have made a typo yesterday (unless something has changed overnight) as it can now find my details - it quotes that I am not eligible for the 6.5% card, but offers 8.9% instead. Since they also have an 11.9% band, that seems like a good result - I might try them in a few months if Halifax / Barclaycard go nowhere.

pcman1985

19.9% APR on nationwide does not mean automatic decline.
My soft search was £2000 and 19.9% for the Select Credit Card and I was accepted.

Might have been because I bank with Nationwide.

401kill

Barclaycard have accepted my appeal. I've received, activated and put a transaction on the card - all seems OK.

I'll give it a couple of months to make sure nothing goes wrong with the new card (and lessen the impact of the 2 hard searches left by BC) before cancelling my BOS student card.

Hopefully that will then remove the CPD marker a month or two after!