Credit club: Pre-Approved on Saturday, 'Not Eligible' on Monday?

in Credit Cards
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I signed up to credit club on Saturday with the intention of applying for my first credit card. I saw that I was pre-approved for an Aqua Reward card, and subsequently applied for it (I am yet to hear back from them).

I logged in to credit club today to find that that same card now says I have a 0% chance of a successful application despite the fact that none of my details have changed!

Should I be worried? The whole point of this was to start building good credit, now I'm concerned that the failed application will damage it.

Replies

  • zx81zx81 Forumite
    35K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    Your application hasn't failed yet.

    It probably now says 0% because a) you've already applied so it's telling that there is no point in making another or b) because the eligibility checker is sometimes a bit wonky.

    Either way, nothing to worry about, see what they come back with. One search is either here nor there.
  • T-G-CT-G-C Forumite
    591 Posts
    jb18 wrote: »
    I signed up to credit club on Saturday with the intention of applying for my first credit card. I saw that I was pre-approved for an Aqua Reward card, and subsequently applied for it (I am yet to hear back from them).

    I logged in to credit club today to find that that same card now says I have a 0% chance of a successful application despite the fact that none of my details have changed!

    Should I be worried? The whole point of this was to start building good credit, now I'm concerned that the failed application will damage it.

    The mechanisms used by checkers can sometimes do that, however in reality the card should and will be removed from the list. This is because it can take a little while for either side to update, the 0% reflects the fact that their system cannot generate a likelihood score when you are already now registered as having applied for it.

    When I did a check, Capital One showed on there and as soon as I was approved, it disappeared from the list, some lenders can take longer than others.

    This is no reflection on whether the application was approved or declined. You must wait to hear back before setting on the outcome. I don't know about Aqua Reward, but Aqua Classic has an automated approval system, so perhaps you have been sent for manual review first.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
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