Preapproved for credit card-being considered?

MABLE

My credit score is 811 with Exp and 465 with Equ. but this did not stop Lloyds granting me a loan of £12,000 a few days ago at their lowest rate of 3.9%.

Again the numbers do not add up.

Chrysalis

Whilst been referred to human processing is frustrating, it doesnt necessarily mean a bad outcome.

In dec 2017 I applied for a MBNA 0% BT card, got auto approved but on poorer terms (Reduced 0% period), I rejected the offer.
In jan 2018 I reapplied, I got referred, but then got approved with the full 0% term and also the card had the highest limit of all the cards I have as well.

Chrysalis

Ebe_Scrooge wrote: »

The point being, every lender has their own, very different, criteria. So the score made up by the CRAs cannot possibly be representative of anything.

I can throw this at you, my sister has a score of 400 on the CRA, the CRA correctly alerts my sister that she has a CCJ so may affect her ability to get credit.

She gets turned down for 0% credit of course, and also turned down from reputable loan companies.

My niece has no credit history, this gives her a low credit score, and this also reflects on applications she makes, she struggles to even get a store card.

To say the scores provided by the CRAs is "completely" useless I disagree with, I do agree they not going to paint a full picture, but thats very different to saying they completely meaningless.

Also given I used to work for capital one, I can say some criteria overlaps.