Credit card eligibility checker - inconsistent results?

danlightbulb

Hi all,

I am investigating a new balance transfer credit card.

Last week, I used the MSE eligibility checker and it said I was pre-approved (100% chance) of getting the Virgin Money 0% fee balance transfer card.

I have come back to it tonight, intending to apply, and the approval chance has moved from pre-approved to 95%.

Everything I entered is exactly the same, and my credit report hasn't changed in that period (no other applications made).

I'm a little annoyed since that was the card I wanted. I'd prefer a 100% pre approved card over any other percentage for obvious reasons.

What's going on?

Rich7111

Virgin money could have changed what they are looking for, credit scoring can change day to day, doesn't always mean it's anything to do with you, it could be simply that they have made a change to what they want, with 95% you are still almost guaranteed approval.

danlightbulb

It doesn't make much sense though, the system itself.

Virgin money are communicating their criteria to the MSE tool, to enable it to determine whether an individual will be 100% guaranteed based on the soft search.

So it stands to reason that if the criteria are fully understood, then any person can only ever be 100% or 0%. Given the criteria are known, how can any other percentage arise?

Arleen

It very well may include randomness just to screw with reverse engineering. In the end, those are just guideline figures, and it doesn't mean that you are guaranteed to be approved at that APR.

MysteryCredit

It can also have to do with small other things that have updated on your report since, whilst you may not have had any more searches since, lets say other things have happened, IE a balance on one of your existing accounts has increased, an account has had a lowered credit limit or anything small and minute like this may have an impact. I wouldnt worry too much, whilst not pre approved, you still stand a pretty solid chance

RavingMad

The virgin website has its own pre approval check which doesn't affect your credit rating, so it says

I was 80% for Virgin on MSE checker and I successfully applied for a Virgin card, with £8200 limit. Don't think I've ever had such a high initial limit before, plus I only wanted to transfer £3k