Pre Approved Credit Card Application

Verityspinelli

atkinsons wrote: »

Thanks verity
How the guy explained it was when they calculated my salary, my mortgage and other financial commitments that told them how much spare cash I had each month. They also asked how much credit I have available on cards along with loans / credit card balances owed, then calculated it as a % of my annual salary and said they couldn't approve another credit card. I explained I'm not using my credit card limit and wanted to transfer the small balance to % balance transfer to pay the debt off quicker. It's to do with responsible lending, I potentially have £4,000 I could spend then if they give me a credit card and I spend that balance too I might be in real big debt and not afford to make payments.

Sorry Verity, I hope this helps explain a little better.

I think you are right a couple of others on here responded to my post with helpful comments and advice... that it's only 1 lender and don't worry about the hard search. If applying again I should leave it 6 months and just carry on paying it bit by bit in the meantime.

I wouldn’t worry about Barclays they are always shouting out about how Barclaycard are responsible lenders but to be fair I cannot count how many times Barclaycard have slashed people’s credit limit while they have a high debt on their card and then say they are doing it because they are responsible lenders, all they do is put people in a spin trying to get their debt moved around and end up stuck in a high utilisation/too many searches situation. Barclays have been my bank for longer then I can remember but they are the devil I’m sure.

Nobody wants to be paying high interest so if you want to move your debt try somewhere else, you don’t have to wait 6 months you’ve only made one search, I don’t know your full situation but if you try an another eligibility tool that might help, it won’t affect your report and lenders have their own tools on their website you don’t have to use MSE. I wish you all the best, we all have our own unique situations but don’t feel that you are less of an individual because you don’t have as much credit thrown at you as the next man.

Good luck.

Verityspinelli

!!! wrote: »

Nothing to do with being on a high horse.

It’s called being realistic and not dressing everything in unicorns and fluffy candy floss clouds.

People need to hear the hard truth.

That is true Gary but people in delicate situations need a different approach then let’s say your mate up the pub. You don’t know by a post what their situation is or how much suffering they’re experiencing.

When it comes to people who are blatantly trolling you put them in their place and I admire you for that, you can spot a troll a mile off, but people who are likely have real problems should not be treated in the same way.

Willing2Learn

!!! wrote: »

Nothing to do with being on a high horse.

It’s called being realistic and not dressing everything in unicorns and fluffy candy floss clouds.

People need to hear the hard truth.

I think I could be one such person who could be accused of dressing things up in unicorns and fluffy baby kittens.


But I prefer to think of it simply as seeing things from differing perspectives. Because of my work, I automatically empathise and try to offer support. I like to think that I am still objective and truthful with my advice. Neither perspectives are right or wrong, and both have advantages and disadvantages.

Me and my fluffy kittens wish you all the best

callum9999

Verityspinelli wrote: »

I wouldn’t worry about Barclays they are always shouting out about how Barclaycard are responsible lenders but to be fair I cannot count how many times Barclaycard have slashed people’s credit limit while they have a high debt on their card and then say they are doing it because they are responsible lenders, all they do is put people in a spin trying to get their debt moved around and end up stuck in a high utilisation/too many searches situation. Barclays have been my bank for longer then I can remember but they are the devil I’m sure.

Nobody wants to be paying high interest so if you want to move your debt try somewhere else, you don’t have to wait 6 months you’ve only made one search, I don’t know your full situation but if you try an another eligibility tool that might help, it won’t affect your report and lenders have their own tools on their website you don’t have to use MSE. I wish you all the best, we all have our own unique situations but don’t feel that you are less of an individual because you don’t have as much credit thrown at you as the next man.

Good luck.

Reducing the credit limit of people struggling with the amount of debt they have seems like it would be the very definition of a responsible lender. You can't just assume that they'd leave it there untouched as leverage to get another cheaper card.

Verityspinelli

callum9999 wrote: »

Reducing the credit limit of people struggling with the amount of debt they have seems like it would be the very definition of a responsible lender. You can't just assume that they'd leave it there untouched as leverage to get another cheaper card.

That’s your opinion and that is fine, when it comes to Barclaycard I disagree, Barclaycard act in a way which is best for them, they pay no heed to what is in the best interests of the borrower.

If you had a £10,000 limit (which Barclaycard love to give to people) you paid a minimum payment say on your £3000 pound debt for a few months (which they give you an option to do) not everybody knows about the persistent debt problem that it indicates.
You DON’T spend any more on your card, Barclaycard will cut your limit down to £3100 wthout caring what the consequences are for the customer.
I’ve never known any other bank to cut your limit so severely as Barclaycard. So are they really acting in the best interest of their customers? Putting them in a position where they now have a very high debt utilisation problem and are forced into making more then a minimum payment just to stop the charges taking you over your limit. I would say they should be held accountable for the many many people they have actually forced into debt, In fact I would go as far as to say they are the complete opposite to what a responsible lender should be.
A responsible lender is supposed to support the borrower if they experience difficulties, I wouldn’t say that is a fair description of Barclaycard, they don’t act in a customers best interest at all.