Barclaycard application unsuccessful - unable to offer rightnow even with decent credit

lulaby

Not sure why , but my barclaycard reward creditcard application online was unsuccessful.

My experian credit scr is 999,loans(0),creditcards(0),mortgages(2)
am homeowner plus a BTL prop.
Never missed a payment or defaulted ever
am with Barclays bank since 2001
I don't have any other loans apart from normal mortgage(12 years) and BTL mortgage(5 years),
(5) Few years ago I used to have creditcards, which I then closed my self as wasn't using them at all.

reason online given
"your current levels of borrowing and expenditure compared to your income indicate that if you take out further credit, you may find it difficult to keep up with repayments in the future."
we use credit agencies like CallCredit 0845 xxx xxx

So I just cannot understand , am I missing something? I haven't got any major expenditure and even my mortgage payments are not high.

Is it worth calling Barclaycard at all ?
Is it worth calling Callcredit at all ?
or forget it and apply somewhere else, but am worried now even to apply.

SnowTiger

lulaby wrote: »

Not sure why , but my barclaycard reward creditcard application online was unsuccessful.

My experian credit scr is 999,loans(0),creditcards(0),mortgages(2)
am homeowner plus a BTL prop.
Never missed a payment or defaulted ever
am with Barclays bank since 2001
I don't have any other loans apart from normal mortgage(12 years) and BTL mortgage(5 years),
(5) Few years ago I used to have creditcards, which I then closed my self as wasn't using them at all.

reason online given
"your current levels of borrowing and expenditure compared to your income indicate that if you take out further credit, you may find it difficult to keep up with repayments in the future."
we use credit agencies like CallCredit 0845 xxx xxx

[...]

Is it worth calling Barclaycard at all ?
Is it worth calling Callcredit at all ?
or forget it and apply somewhere else, but am worried now even to apply.

The reason given for the rejection is generic. It appears you have a pretty thin credit file.

What's on it? Two mortgages and, perhaps, utilities?

A lender wants to see a history of using credit and paying it back.

You could appeal to Barclaycard and ask them to reconsider.

Unless there's something incorrect on your Callcredit (now TransUnion) file there's little point contacting [STRIKE]Callcredit[/STRIKE] TransUnion.

Perhaps apply for a less choosy card? Aqua Reward offers 0.5% cashback and fee-free international use. Downsides: likely low initial credit limit and high APR.

BoGoF

Why did you close your cards?

You should have kept a couple and used them but pay in full every month.

As above, you do not seem to have much on the way of recent credit and the lack of history is probably the reason for the decline. You need to start building a history. Use a credit card eligibilty checker and apply for a different card from there.

And ignore your ficticious 'credit score'. As you have discovered, it means nothing in the real world.

cymruchris

As said - likely as you don't have much going on in your credit history. Nothing wrong with not having much credit - and good that you manage without it - but most banks seem to like evidence of money in/money out - successful payments - credit maintenance and responsibility before issuing a card. That said - if it's your own bank, they'll have access to your current account information, and so should have a clearer picture of your finances. It might be worth a call (although you'll likely get a call centre operative to start with) to ask about options to relook at your application. Just to double check - you should take a look at your reports on the various CRA's to make sure all is recorded accurately.

[Deleted User]

You could call them and ask for a manual review.

You’ve not detailed your salary/income at all.

Your credit score/rating isn’t used in making lending decisions so you should do what lenders do and ignore it.

BC are not obliged to provide a reason why. Lending information is commercially sensitive.

PRAISETHESUN

It won't hurt to get in touch with BC and ask for a manual review - the worst they can say is no. Other then that it's not worth getting touch with the CRAs unless there is incorrect information on your files. If you don't have any success getting your application reviewed I'd suggest using an eligibility checker to see what other cards you may be able to get.

Terry_Towelling

We have had other threads on her about Barclaycard rejections where the disgruntled person, rang up to 'appeal' and was accepted. So, as suggested, give it a go.

Barclaycard has given a reason for rejection and they've seemingly done that on the basis that your outgoings are already quite close to your incomings. Is this accurate or have they got that wrong?

lulaby

i used the experian checker, it told me barclaycard with 95% chance.

[Deleted User]

So you’ve fallen into the 5% not eligible pot

lulaby

My outgoing are very little compared to my in-comings. I take most income as dividends.

BTW I called barclays, they said wait for the letter that i should receive in few days before making the appeal. because the call centre person cannot see these details as its my information.

I also called TransUnion, the person told me to first download the statutory free report, have a look and then call back again before they can discuss the matter any further.
I have just downloaded my statutory reports and here are some points i noticed.
1) Loans&Mortgages : it shows both my mortgages correctly with correct balances
2) OTHER Accounts :
-> it shows all my current accounts. STATUS all OK
but the BALANCE is 0(Zero) in all current accounts. Is this normal, should it not show my actual account balance ?
-> i don't see any SAVINGS or ISA accounts mentioned at all ?
-> mobile and utility are all correct and OK
3) SEARCHES :
Transunion (ID check for credit) for the application day of card
Barclaycard AF check for the application day of card. Not sure what AF means

4) strangely I even had Barclaycard in the past, rarely used which i then closed myself around end of 2015. I don't see any information about that on my credit report at all in the settled accounts.

so if all my current account balances are 0/Zero and no other savings/isa accounts are mentioned with them , not sure how barclaycard are using them to make such decisions.
unless they combine multiple agencies but the decision is made online , so not sure really ?

[Deleted User]

Credit reports don't show savings or current account balances, so that's normal.

Your Barclaycard may appear on one of your other files.

If you have no current credit cards, that is likely to be a reason for decline. Try getting a cardholder down the credit ladder.