Nationwide Credit Card Quote Issue

warmsnow

creditscoremeansnothing wrote: »

What??? Your reading far too much into it.

Nationwide don't want your business, deal with it and move on. You have plenty of available credit on your other cards so just use those.

Yes. Credit score is meaningless. Tight as a ducks a*se = not a profitable credit card customer. Just a pity not to get the 0.5% cashback.

However definitely interesting three of us in the same situation...

Doctor_Duke

There are others like the Natwest Reward Card better cashback especially if you also open a Reward Current Account as they then refund the £24 annual fee for the cashback card. just make sure you have sufficient direct debits on the Reward Current Account as they give you 3% cashback and this can cover the £3 monthly fee.

[Deleted User]

warmsnow wrote: »

Ignition or Someset La3, did either of you get any further update from Nationwide?

Nationwide appear to have searched my Experian, which GMAC have wrongly got a 5k outstanding on there with missed payments for years and they're not budging. The balance is nowhere near 5k anyway, but I can see why it looks bad, and N/wide can only go on what they see.

Ironically, GMAC report it as partially settled + £0 outstanding to Call Credit & Equifax (and have done for months) but I'm going round the houses with their complaints dept & the ICO to get them to report the same to Experian.

If I apply for Equifax only credit my file looks fine (well as fine as it can be, given the circumstances!), Experian did have a number of mistakes on at the time of application including another high balance default not updated after bankruptcy.

As soon as GMAC sort themselves out and default me properly, I guess I'll be in a fairer situation to assess Nationwide.

It appears N/Wide DID search call credit and probably picked up adverse from there (hence the low limit & high APR), maybe the adviser I spoke to wasn't aware of this - then the search at Experian uncovered 'new' adverse so they declined.

I totally understand this situation now, they can only go on what they see in the 2nd search and they saw a lot of 'fresh' adverse....

HOWEVER, apparently 19.9% soft search = decline. That seems absolutely ridiculous - if they have decided they are going to decline, and are just displaying 19.9% for the fun of it, they should STATE decline on the soft search screen, otherwise it loses all credibility IMO.

I currently can't even get a soft search ('a technical error has occurred'). When I do reapply (Sept - 1 year since discharge & lot of searches drop off) I imagine I'll be given the same 19.9% soft search... it's the subsequent decline/acceptance based on a corrected Experian file which will interesting!!

john1002

To be fair nationwide is a mainstream lender and only just been discharged means you may need to wait a good few years before been accepted, have you any credit builder cards, might be worth trying one of them to build more history post bankruptcy.

Time heals in credit land but slowly.

John

[Deleted User]

Yep, I didn't expect a cat in hell's chance of getting N/Wide to be perfectly honest - it's only when the soft search gave me a relatively low limit I thought I'd give it a go.

If the limit had been say 5k (which I'd expect a normal customer with my salary & history (minus the BR!) to be given) then I wouldn't have gone for it because I'd think that's too high, they've not properly taken BR into account and will decline.

If the limit had been £500, I'd have said that's too borderline, and they'll decline - but for £1,250 I genuinely thought OK, maybe (being a Building Society etc, known for more relaxed mortgage criteria for sub-prime too etc) they are going to give me a chance.

Afterall, I'd personally think someone that's been bankrupt once is less likely to do it again if their circumstances have changed (OR/Courts would hammer you with a BRO straight away!)

If they're going to decline somebody based on BR or any other reason which is consistent across all their files then IMO they should simply state decline/you'd be unlikely to get a card etc.

The OP here (5.5k soft quote then decline) IMO means the soft search isn't doing what it's ment to do *unless* something dodgy is on the OP's Experian file that ISN'T on Call Credit....???

On the phone they did basically say I don't look "too bad" to them and should try again in 6 months once credit file is sorted, as they can only base on what's on there even if I manually appeal, so it's always worth a shot I guess, but I've learnt not to get my hopes up whatever the soft search says!!

*California*

I am getting £1050 @ 19.9%.
Is it worth to continue?

A4445

I just ran a Quote and it said £1900 @ 19.9....i continued and it was approved.

MysteryCredit

I got Nationwide quote £3800 at 19.9..... Declined

Tori_Bellatrix

Somerset_La_La_La wrote: »

Does a soft search not check the credit file at one agency (e.g. Call Credit?).

I thought most soft searches were done via C/C, with the full app being Experian/Equifax (depending on company).

THEN a decline applies only if adverse at Exp/Eq is identified....?

Otherwise, what is the point of a soft search???

I recently got declined for N/Wide, quoted £1,250 @ 19.9% - I've read 19.9% is decline - BUT why not just say decline? Why bait people into a full search?

A soft search should have picked up my adverse and straight declined? Why offer £1,250 (which they say is based on my salary) why not decline?

I can't comprehend their view that it's based (quote from N/Wide: ) *ONLY* on my salary - if that's the case, with no adverse, I could afford a lot more than £1,250 so should have been offered say 5k soft search then decline, I'd understand that.

£1,250 and decline I can't get my head around - either they knew about my bankruptcy and were scoring down, or they didn't (in which case why did I get so low (Bear in mind they gave me 4k years ago as a student too, when my income certainly wasn't good!).

Not bitter that I didn't get it - didn't expect to - just can't understand what's gone on or why cases like the OP's have happened!

I recently applied for a CC from Nationwide (I don't have a current account with them). The soft search came back £1000 at 19.9%. I put in the full application and was accepted and now have the card (but by all accounts, reading from these forums, people offered those rates have previously been declined)

Gavoo7

My 'soft search' came back with a 4750 limit at 19.9%. I didn't proceed as a) I don't like the thought of being rejected b) I don't actually need the card (or credit)