Baffled by Halifax Clarity Decision

bluenucleus85

So I subscribe to Credit Expert and have been thinking about getting a new credit card for using overseas. I decided to apply for one of the best rated travel credit card out there: Halifax Clarity.

Before I applied, checked my Experian credit score and it's rated excellent at 985 points. No significant warnings or alerts.

However, I've just received a rejection email and I'm stumped. Checked my credit score again - still 985. What on earth is going on and what impact should I expect on my credit file from now on?

[Deleted User]

You've just found out that your credit score is largely made up. It doesn't have any relevance to your credit applications.

In terms of impact on your file, a search will show. The result isn't recorded.

What do your credit files show ? Do you have a solid history of credit management? Any outstanding debts? What are your available limits compared to your income?

If nothing negative, you may just not meet their target criteria.

beefturnmail

The same happened to me and like you my credit record is pretty much perfect, I own my own home with >40% equity, earn > £50k p.a. in a job I've had for > 5 years, never miss payments etc.

I waited 2 weeks and then my wife applied. I would have thought her application would be weaker as she is PT self-employed and earns about £20k per year, but she was accepted. The only reasons I can think of are:

1) My Halifax Reward account was switching out the day after I made the credit card application and I have no other accounts with Halifax\BOS, whereas my wife has BOS current accounts and a Halifax saving account
2) On the application questions where it says 'how much credit would you find useful', I put £10k - way more than I need, but I didn't really think about it. My wife put £3k, which is more like what we will actually need (since it will only be used for spending abroad). They gave her £4k

cjmillsnun

It!!!8217;s fairly simple. Halifax have their own criteria. If you meet it, you get accepted. If not you don!!!8217;t.

The !!!8216;credit score!!!8217; is nothing they or any other lender sees.

chattychappy

Halifax do want to lend to people. So if there is nothing untoward in your credit history, you could ask them to manually review your application. People have done this before and succeeded. If you fail, then they might give you an idea as to what the problem is, though they don't have to.

Have you made other applications recently, and if so, does your "story" match up? Stuff like income isn't considered by Experian, but application information is collated and if something looks wrong you can end up being rejected because of NHunter data (google for further info).

Consider applying for Santander Zero. Works the same way as Halifax Clarity - loading free foreign transactions, loading/fee free ATM withdrawals, just interest from the date of withdrawal. Only significant difference is ATM limit is £300 a day rather than £500 a day. I use both.

dazzaofdagenham

chattychappy wrote: »

Halifax do want to lend to people. So if there is nothing untoward in your credit history, you could ask them to manually review your application. People have done this before and succeeded. If you fail, then they might give you an idea as to what the problem is, though they don't have to.

Have you made other applications recently, and if so, does your "story" match up? Stuff like income isn't considered by Experian, but application information is collated and if something looks wrong you can end up being rejected because of NHunter data (google for further info).

Consider applying for Santander Zero. Works the same way as Halifax Clarity - loading free foreign transactions, loading/fee free ATM withdrawals, just interest from the date of withdrawal. Only significant difference is ATM limit is £300 a day rather than £500 a day. I use both.

What sort of info will hunter have that the credit agencies do not

YorkshireBoy

dazzaofdagenham wrote: »

What sort of info will hunter have that the credit agencies do not

Why not "google for further info", as suggested?

To give you a starter, the post you quoted said "application information", so that would include:

Salary/Income
Time with bank
Time with employer
Job title
Etc
Etc

If you've ever registered with a CRA/requested a credit report (you almost certainly have?), have you ever seen the above examples recorded on the report?

Samsung_Note2

I wouldn't worry to much..even when approved you dont always get the card.

Two weeks ago applied for a second Capital one card as was 100% Pre approved (6 months 0% balance transfer) and obviously passed the decision,gave details of Tesco card for the balance transfer.

Phoned up yesterday to find out whats happening and was told that after the pre approved 100% acceptance and the Decision to allow,they then said i didn't meet internal requirements.

I did tell the lady i found this odd as the current card had zero balance,so wasn't needy for credit...oh well there loss as closed the Card i had with them...lol.

dazzaofdagenham

YorkshireBoy wrote: »

Why not "google for further info", as suggested?

To give you a starter, the post you quoted said "application information", so that would include:

Salary/Income
Time with bank
Time with employer
Job title
Etc
Etc

If you've ever registered with a CRA/requested a credit report (you almost certainly have?), have you ever seen the above examples recorded on the report?

Yes I have registered with noodle....but was wondering what extra info hunter would have over above any cra

bluenucleus85

Thanks for these insights, national hunter looks interesting. Would be really interested to hear instances of how this helped you adjust your application strategy if you've used it.

In my case, I have been earning well into the higher rate for over 5 years. Have 3 other credit cards, held accounts at Natwest & HSBC for donkeys years and have a pretty good personal leverage ratio.

What I'm learning here is that I should potentially invest in a national hunter report, maybe I'll learn something from that and then wait a few weeks then apply elsewhere.

PeacefulWaters

Do you have any existing Halifax accounts?