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

[Deleted User]

So it looks like you have a very thin file.

Try applying for a credit builder card (Aqua, Vanquis, Capital One etc.) and see if they accept you

Yellow_mango

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

This suggests you are a business owner. That could well impact on BC decision (ie income from dividends / a business may be perceived as less certain as employment income.

A “credit” report, reports on all your credit accounts. Savings and ISAs are not credit accounts, and so not reported.

Candyapple

AF stands for anti-fraud check which is normal.

Your savings and current account balances will never be shown on your credit reports - this is normal. A lender will be able to see your current account turnover (CATO) along with any other info available from outside sources such as National Hunter and CIFAS to check that your info matches (e.g. so if you say you earn £50k but your bank account only ever has £1k in it monthly, there is a discrepancy and will be flagged as such).

https://www.equifax.co.uk/about-equifax/press-releases/en_gb/-/blogs/equifax-incorporates-income-analysis-into-affordability-indicators-to-support-responsible-lending/

If your old Barclaycard is not showing on one file, it may be showing on the other 2 below.

There are 3 credit reference agencies in the UK: Experian, Equifax and TransUnion. Lenders can choose to search 1, 2 or all 3 when you make an application and you won’t know who they use until after they’ve hard searched you.

You should check your credit reports via the free online portals of the above to see what shows on the other 2 files:
https://www.moneysavingexpert.com/creditclub/
https://www.clearscore.com/
https://www.creditkarma.co.uk/

lulaby

Thank You,
when i did the online application, after saying unsuccessful, it mentioned callcredit and borrowing level.
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

Which leads me to think that call-credit part of the check came back with issues(i could be wrong), if they were indeed checking across all 3, otherwise they would have mentioned all 3 names.

Also as you have clarified that savings,isa and other accounts would not make up on my credit file, so unless they have an accurate way of somehow working out all my balances minus the borrowing , the decision could be inaccurate,
so for example, if i add up all my savings - minus the mortgage borrowing, then i would be still be left with positive. This is why as the reason given was borrowing , i just don't understand how that conclusion can be reached by BC as a reason.

So was just not sure how they telly up and combine all 3 agencies in one consolidated.

I think i will have to wait for this letter, hopefully to explain with some details for me to call or appeal them back.

:mad:

Willing2Learn

Just to add weight to the what the others have said. I think you have a 'thin' file (ie not many active credit accounts to show how you manage credit).

Also, as others have said, do go for a manual review. I got accepted on a manual review when I initially had a 'computer says no' decline. So it can be well worth your time perservering

[Deleted User]

Lenders tend not to care about savings, particularly those that offer unsecured debt.

You can tell them until you’re blue in the face that you have £XXXX on savings and they still won’t care.

lulaby

Was your manual review with BC?
Is that same as an appeal

[Deleted User]

Appeal/manual review.
Same thing.

Either way they could still say no and not provide a reason.

Terry_Towelling

Still don't expect them to consider your savings (although mention them, by all means, as it won't hurt). You could have £10K, £50K, £100K or more saved up but, if a card company considered them in your application, you could then blow them on a house, fancy car, canal boat, expensive lap-top, vintage watch, business start-up, sweets or even Cryptocurrency the day after your application was approved.